Real Estate

Remote Online Notarization: What you need to know

Prior to 2020, the real estate industry spent years imagining what the world might look like once critical transactions were digitized. Well, now we know. The end-to-end digital experience has arrived and it’s even better than we imagined. And we aren’t going back.

As the category pioneer and leader, Notarize completed the country’s first legal online notarization, online real estate closing, online mortgage, online will, and online auto sale. We’re at the forefront of bringing trust to life’s most important transactions.

For six years, Notarize has traveled the country advocating for remote online notarization with state and federal legislators. At every turn, we said that it’s a critical option for those who need it. But when COVID hit in March 2020, remote online notarization became an essential service overnight. Realtors, lenders, and title agents were challenged like never before and were forced to reimagine every aspect of how they help their clients find and purchase a new home. With Americans moving at unprecedented rates during the pandemic, digital closings were the transformative solution for Americans looking to safely purchase and sell real estate, whether they’re moving across town or across the country.

Necessary now—and in the future

What’s clear from the rush to digitization out of necessity is that digital closings and remote online notarizations are here to stay. 2020 proved the concept that people want to go digital because it’s faster and more convenient, but also because it’s safer and more secure—and dare I say delightful—for you and your clients.

It’s not enough to have a great marketing team, a great way to advertise, or a dedicated network of clients. The most successful real estate agents will play a vital role in connecting the entire real estate process; from the home search to the notarization at closing.

Unsure where to start with RON? Here’s what you need to know

1.25 billion documents are notarized in the US each year, and it’s a cornerstone of the real estate closing. Remote online notarization is a fully digital experience that mirrors the traditional notarial act. A signer appears before a notary on a video call, and together, they complete, sign, and notarize the document. Each video session is recorded and retained along with an audit trail of the transaction. Signers only connect with a notary after completing several additional security measures, including personal identity challenge questions and credential analysis of their government-issued ID.

RON is closing the ‘last mile’ of the digital transaction. Leveraging RON will empower you to offer the customer experience that your clients – and the industry as a whole – will soon demand.

Here’s how you can get started:

  1. Rally your team. RON doesn’t just impact your business—it affects your entire mortgage ecosystem. Embrace a highly collaborative and communicative game plan where you and your partners can support one another as you grow into your digital offerings.
  2. Do your homework. There are a handful of vendors whose products support RON, and no two solutions are the same. Take the time to find a partner who cares about your success.
  3. Stay “in the know.” Like other aspects of real estate, the RON landscape is constantly changing. Vendors, underwriters, and legislators play an important role in the future of RON, so be sure to keep an eye on their priorities by staying informed.

At Notarize, we’re seeing the rush into RON, with more than 100,000 realtors, title agents, and loan officers now on the Notarize platform, with more onboarding every day. Not yet notarizing online? Today is a perfect time to digitize this vital step in a closing. RON is bringing everyone to the closing table and transaction room of the future – you need to be sure to meet them there, too.

If you’re interested in knowing more about RON and how to implement it in your business to get deals done faster, learn more from Notarize here.

Notarize is the first platform to enable people to sign and notarize documents online, 24/7. From adopting a child to buying or selling a home or car or making financial plans for the future, Notarize’s trusted products and services are digitizing and rewiring industries to bring trust to life and business’ most important moments and make them more convenient, secure, and verifiable. Trusted by the industries they partner with, Notarize was the first platform approved by Fannie Mae, Freddie Mac, and countless title underwriters and national banks. Notarize has chaired the standards-setting groups for the Mortgage Bankers Association, American Land Title Association, and others. 

What's your reaction?

In Love
Not Sure

You may also like

More in:Real Estate

Leave a reply

Your email address will not be published. Required fields are marked *