Archive for the 'Paperless Real Estate' Category

February 19, 2019

Has a lack of property survey ever delayed your deal from closing? If so, you’re not alone.

A property survey can be immensely important — even more important than the deed, say some.

While not all lenders require property surveys, if you are dealing with one who does you know that it’s necessary. But what can you do if you don’t have, or can’t find, a survey?

The long answer might be to arrange for a new surveyor to come out, but this can get expensive and time-consuming — especially when you are waiting on a deal to go through and the survey is the last piece you need.

The short answer is simple: access it online!

GeoWarehouse has existing historical surveys available online in our e-store. If a survey for the property in question is available, you’ll be able to obtain it at the click of a button for much less than it would cost to get a new one.

Even if your lender doesn’t require a survey for the deal to close, it’s still a good idea to see if a historical copy exists.

According to the Toronto Star, a 2015 study by the surveyors at Protect Your Boundaries showed that of 1.2 million freehold residential properties in the GTA, an estimated 49% have significant boundary issues, most of which would not be covered by title insurance since they involve fences, hedges, and retaining walls.

Plus, if an issue comes up at the last minute, you’ll want to be prepared. The same Toronto Star article references a vendor who owned a house on the wrong side of a street, and one who owned the wrong half of a semi-detached house.

These may seem like extreme cases, but it is often better to be safe than sorry — particularly when it comes to closing a deal.

Obtaining a property survey can just be good due diligence. And accessing it online makes it so easy to do that you’ll want to make it part of your regular process.

Access your property surveys today through the GeoWarehouse e-store. If you don’t have an account, call us at 1-866-237-5937 or visit www.geowarehouse.ca.

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There are many advantages to being a paperless real estate professional. And with electronic real estate technology, it’s easier than ever.

Traditional handwritten signatures can be an inconvenient process. You might find yourself scanning and faxing paperwork back and forth between agents. Electronic signatures can significantly improve your process.

  • It will save you money – you’ll be using less paper, less ink, and less staff resources.
  • It will save you time – there will be less back-and-forth between agents and parties.
  • It is safe – most electronic signature software is tamper-proof and permanent.
  • It preserves the quality of official documents – you’re probably familiar with how faxing documents (especially multiple times) can reduce the legibility of text.
  • You can close deals faster.
  • It complements other electronic real estate technology (more on this in a bit).

If you’re re-entering the real estate market, electronic signature technology is one of the most convenient new tools available. Many deals today are done over email – even money can be transferred electronically. Electronic signing allows you to offer more accessibility to your clients.

There are some great real estate tools available made specifically for electronic signing. DocuSign is one example. Whether you’re buying, selling, or refinancing, DocuSign helps centralize all of your real estate documents, and get electronic signatures to complete agreements faster.

As we mentioned above, going digital can complement other real estate tools in your arsenal. When you can organize and store most client data electronically, you can sync it with your other client databases and create a sturdy data system for finding new real estate leads, marketing opportunities, and more.

Paperless real estate technology is changing the game. Take GeoWarehouse for example. Our tools are completely accessible online, including property reports with information from the Province of Ontario Land Registration Information System (POLARIS), Parcel Registers*, condo status certificates, and more.

Contact us today to learn more about our services. Visit www.geowarehouse.ca.

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real estate salesComing into the real estate industry as a new real estate sales professional you would be remiss not to realize how competitive an industry you are entering and that efficiency is king. The beauty of being new to the industry is that you can bring fresh ideas to the table about how you go about your daily activities. When we talk efficiency, we mean efficiency in a specific context: the ratio of the useful work performed by a machine or in a process to the total energy expended or heat taken in.

The most effective way to do this is by doing more electronically. From marketing to administering your deals.

On the marketing side, the playing field has been leveled. In the past those with smaller marketing budgets had difficulty competing with the seasoned professionals with big budgets for bench ads, calendars and sign advertising. These conventional marketing mediums have just about been eclipsed by the emergence of social media. Through social media you can market yourself and listings, establishing a vast network of connections – all electronically. Digital marketing through social media or even through real estate specific platforms – both available online and through mobile apps – increase your exposure and a client’s accessibility to you.

In deal administration, the real estate industry has been inherently burdensome on the paper side. Between contracts and agreements, listings, sales comps and the myriad other collateral a real estate sales professional may bring to a meeting, more can now be done electronically.

Meeting a client at your office

  • When a client comes to your office to meet have 2 things ready:
    • GeoWarehouse loaded on the computer – to quickly view property information with the client (either their property, or properties they would like to see)
    • ViMO loaded on your tablet – if the client wants to engage you, you can electronically prepare the listing or representation agreement and sign it electronically
  • Rather than copying identification and other material the client provides – scan it!

Meeting your client on the go 

The old way – purchase:

  • Pre-prepare representation agreement
  • Meet the client
  • Have the client sign initial agreements re: representation
  • View properties of interest – take photos if necessary
  • Go back to the office, research the property, if there is an offer to be made, prepare the offer
  • Meet the client again to sign the offer
  • Email or fax the offer to the other side

The electronic way – purchase

  • Ask the client for properties they may be interested in seeing and research some of your own
  • Attend the appointment armed with sales comps for the properties you will be seeing in the event your client is interested
  • Meet the client – ensure you have your tablet
  • Prepare the representation agreement on your tablet and have your client sign it electronically
  • On the road the client spots a property for sale that wasn’t yet appearing online
  • Using your ViMO app on your tablet, stand in front of the property and using augmented reality, snap a photo that reveals all property related information
  • You check ViMO app to see if the other real estate sales professional is online, and they are – you send them a message and they send you the lockbox key
  • You show your client the property and they love it – you message the other side to expect an offer shortly
  • You prepare the offer electronically and transmit it to the other side using ViMO

…. And the rest is history….

So as a new real estate sales professional you can see that investing in technology and investigating online tools for real estate sales professionals both online and through mobile apps will make you more efficient and prepared to compete the seasoned pros.

GeoWarehouse and ViMO let you do far more, on the go, in real time. Efficiency is easy with these two. Find out more at www.geowarehouse.ca and www.myvimo.ca.

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March 25, 2015

paperless real estateThe benefits of going paperless are vast, so why do so many struggle with implementing a plan to take the paperless journey? Taking the journey will not be possible without a roadmap or plan to get you from your starting point to your destination point.

A large part of this plan is going to be the technology you will deploy to take your brokerage paperless. Now, within a brokerage you have many different people who perform different tasks and are at different skill levels where using technology is concerned – all of which will have to be considered in your planning. All team members – administrators, real estate sales professionals and any other stake holders – should have input.

Before going paperless it is prudent to look at your brokerage departmentally. Have stakeholders meet to discuss different aspects of their department and where paper plays a role.

  • Administration may benefit from apps that assist with document organization, transmission, storage, payroll, creation of marketing materials, etc…
  • A real estate sales professional may benefit from all of the above as well as apps that assist with marketing, researching properties and clients as well as performing due diligence.
  • A marketing person within a brokerage may benefit from apps that enable them to market the brokerage and listings digitally.

If we were to fit it into a process, the process may look something like this:

Make the decision to go paperless → Gather stakeholder input → Research technology → Evaluate vendors of technology → Prepare plan to integrate into workflow → Put the plan into place

By involving real estate sales professionals in your brokerage as well as other professionals who work in the brokerage you achieve their buy-in as they are a part of the plan. You will also be positioned to identify real estate sales professionals who have limitations as far as technology hardware – this enables you to make recommendations to get them up-to-date.

Your plan may want to include:

  • Technology – Departmental apps to support going paperless.
  • Integration – Getting the apps installed an integrated.
  • Training – A plan for training to get all team members up to speed on the apps being used and how they will use them.
  • Communication – Communication, communication, communication. While you will have gone a long way by engaging your team as far as their awareness of the plan to go paperless, some team members may not be as engaged as others so routine communication about your plan is recommended.
  • Support – Once going paperless you must continue to support your team by staying on top of the latest apps to ensure that you are using the most current technology, and as apps evolve, offer ongoing training and support to teach your team how to maximize their app use.

Going paperless can be tough, be stand up to the challenge with a plan. GeoWarehouse can help. Visit us online today at www.geowarehouse.ca.

 

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