The next high-tech development related to real estate sales will be truly paperless transactions, including the acceptance of digitized and encrypted signatures. Closing of a home sale could be accomplished in less than 15 minutes when the entire processing is handled electronically, according to a report carried on the National Association of Realtors website.
“Paperless transactions are growing in number and popularity with brokers and consumers,” said Realtor and real estate educator Saul Klein. “They are particularly popular with younger brokers and consumers, those under age 40. However, considering the problems we now face with the economy, it will probably be five to 10 years before these systems will be universally used.” Klein is a past president of NAR.
My thoughts: What’s taking so long to implement this idea.
Do you think your next real estate transaction will be paperless?