Goal setting and KPIs for 2022 can look quite differently among real estate professionals, depending on the role. To a transaction coordinator, a top goal may be to find a system that can help better organize and manage tasks, while a broker may want to recruit smarter in the new year.
Regardless of the objective, most have time and money savings as an end benefit. One of the best ways to accomplish both, regardless of your role, is to integrate timesaving apps with your real estate transaction management system to complete transaction tasks faster and more efficiently.
Without question, the pandemic fast-tracked tech adoption in the real estate industry. Seemingly overnight, agents who were once bound to paper processes moved to digital platforms to communicate, show homes and transact. Consumers also began to demand faster, more digital options.
Fortunately, over the past two years, dotloop introduced two new integration partners, Earnnest and Notarize, to help facilitate a complete remote transaction. Both of these apps are helping to revolutionize the digital transaction by turning once-manual, cumbersome processes into virtual, time-saving tasks that can be accomplished in a fraction of the time.
Rather than wait for deposit checks to clear the bank or chance delays in the closing process, more agents are making the move to Earnnest, which bypasses the mail entirely and avoids wire fraud by using a digital transfer of funds.
With Earnnest, the agent simply connects their escrow holder with the app and sends the buyer a request to pay their earnest money digitally through the Earnnest app using a secure, bank-level encrypted digital transfer. The process eliminates checks and wire transfers, and it takes only a few seconds.
Once the funds leave the buyer’s account and before they hit the escrow account, Earnnest does a thorough “good funds verification” to ensure that the process runs smoothly and there are no payment delays. Both the agent and client receive email receipts once the funds deposit.
Another easy way to save significant time in the new year is by replacing in-person notarizations with the dotloop/Notarize integration. In less than four minutes, clients can review, sign and notarize real estate documents faster than the conventional means of sending a notary to the client.
When in-person meetings aren’t possible or necessary, the dotloop/Notarize integration provides the ultimate convenience. In a few clicks, the client virtually connects with a notary and completes the notarization in as few as 15 minutes. Once the documents are notarized, they instantly sync with dotloop.
After comparing several notary services, Transaction Coordinator Emily Campos of RE/MAX Concepts, Des Moines, Iowa, says her team found Notarize “the smoothest one of all by far.”
According to Campos, the integration offers a welcomed convenience for all. For the transaction coordinators, Notarize gives them flexibility in managing their day and allows them to send links from home versus having to come into the office everyday. In addition to the convenience and time savings, Campos also appreciates the app’s front-end ID verification process, which confirms the signer’s identity using Notarize’s proprietary ID verification tools.
“This makes me feel better because when we’re signing in person, honestly, I don’t know that I would be able to tell a fake ID from a real one. The sellers like it too. It gives them peace of mind to know that there are steps in place to protect their identity,” she says.
For the agents, they’re finding clients love the time-saving convenience. In fact, Campos says 60-70% of the sellers she services are on board with the remote online option.
The Dotloop Notarize integration empowers your clients to review, sign and notarize real estate documents from anywhere without needing to meet in-person.
And for brokers and team leads, the dotloop/Notarize integration can even help recruiting efforts. As RE/MAX Concepts Director of Agent Services Bekah Kentfield notes, “We try to be a full support brokerage, and this is just another great example that we can offer our agents. Best of all, it’s seamless to them — they don’t have to do anything on their end, which is always a benefit.”
This integration can be used to notarize:
To date, 35 states have passed remote online notarization legislation. Using Interstate Recognition, a notary in a RON-approved state can serve signers with a U.S. SSN anywhere globally, as long as the notary remains compliant with the commissioning rules of their state. Check your state laws for more specific information.
Make sure to catch the next blog on “Resolution #3: Onboarding New Hires,” in which we’ll show you how Dotloop Pro can help streamline the agent onboarding process, saving time and minimizing errors that arise from manually filling out and transcribing forms.