Buying and selling real estate in the time of the COVID-19 coronavirus pandemic can be a challenge.
Fortunately, it can also be an opportunity.
For savvy real estate professionals, selling homes during COVID-19 can become easier than ever before. With new technologies such as virtual home buying, real estate transactions can still run smoothly even despite the challenges of social distancing. Commercial real estate representatives can also find opportunities to do even better, despite the current economic challenges.
Fortunately, real estate professionals do not need to feel overwhelmed. For those who are afraid they might be unable to deal with the new way of selling homes and properties during the COVID-19 pandemic, there is an answer.
Professional document management can be a big help.
What Are Document Management Solutions?
A document management solution is a professional technology service that helps businesses and organizations maintain, update, and keep track of digital files and records. It can also be used to help manage paper files, as well as scan, digitize, and track them.
Integrated document management solutions offer many benefits, from secure cloud storage to mobile access of documents – an especially important element for real estate agents who are constantly on the road.
The right document management solution can also make it easier to maintain compliance with government and industry rules and regulations – the solution provider takes care of keeping up with all of that for you.
With disaster recovery, backup, and digitization capabilities, document management can help busy real estate agents stay focused on sales rather than wrangling with technological issues or document access problems. Document management solutions are also a great way to facilitate real estate transactions virtually.
How Document Management Solutions Can Help Real Estate Agents During COVID-19
Here are some reasons why now is the time to get set up with a document management system:
Housing Sales Are Ongoing Despite the Pandemic
When the initial coronavirus lockdowns occurred in the United States, real estate sales of course slowed or stopped outright. But as early as June of 2020, real estate markets started to reactivate, in part fueled by people looking to buy homes after being cooped up in small city apartments during the COVID-10 lockdown.
For real estate professionals who sell homes outside of America’s largest cities, in particular, ample opportunities to make new sales may abound. The best way to be prepared for this sudden influx of new home buyers is the right document management solution.
Closing and Other Paperwork May Need to Be Done Remotely
Gone are the days when open houses could just lead to a bidding frenzy on a home for sale. Now, real estate agents have to schedule clients in advance to show a home and keep plenty of gloves and disinfectants at hand to stop the spread of COVID-19. Virtual home buying is the new normal.
While some document signing may still be done on-site in very controlled conditions, these previously paper-bound transactions can often be done remotely – more easily and more safely. Whether for residential or commercial real estate, document management solutions can help.
Particularly for commercial real estate transactions, which can require a significant amount of paperwork, virtual closing and signing can be a huge boon.
Document Management Allows Agents to Track Their Documents Regardless of Their Origin or Format
One of the other big benefits of a document management system is that it helps real estate agents keep track of documents easily. Through smart indexing of files and search capabilities, the document management solution can organize everything from audit files to property management documents.
Don’t underestimate the costs of misplaced real estate documents, especially in the commercial real estate world. They can cost upwards of $120 to $220 to locate or reproduce.
Document management systems also enable secure cloud access for files. This can help real estate agents set up what amounts to a “virtual office” that can go anywhere. Seamless workflows can help with document preparation and sharing across disparate platforms and devices, including laptops, tablets, and mobile smartphones.
Document Management Facilitates Virtual Home Buying for Real Estate Agents
Document management solutions are the right way for real estate agents to transition from the pre-COVID-19 way of selling homes and commercial properties. To create a truly virtual home buying experience, consider implementing a document management solution. At Virginia Business Systems, we are experts in document management systems for real estate agencies and representatives. We would be happy to assist you.
Virginia Business Systems is a premier provider of high-quality document management solutions for real estate businesses. For more information about a customized solution for your real estate firm, contact us today.