February 17th, 2011 at 10:28 pm
As you know, electronic signatures are becoming more and more common in real estate transactions.? While there are many good things about this new practice (ease of obtaining signatures, reduction of storage costs), there are concerns that we should all be aware of.? Below is a link to an article written by Bob Hunt in Realty Times addressing some of these issues, both good and bad.? Pay close attention to the concerns he identifies at the end of the article.? I think Mr. Hunt is especially correct to identify the diminishing “face time” agents have with their clients as a result of getting electronic signatures.? As most of you know, I strongly believe that managing your client is a big part of your job. That “managing” consists of, in large part, educating the client about the transaction and making sure they understand the documents they are signing.? If you are getting electronic signatures, and therefore not seeing the client, are you explaining the documents as completely as you should be?? Obviously, using electronic signatures and doing a good job explaining documents are not mutually exclusive.? However, it does become harder and you should remember that the explanation and advice given to your client is part of your duties and must be accomplished someway, no matter how documents are signed.? As always, let us know if you have any questions.? Thanks.
http://realtytimes.com/rtpages/20110215_goodthings.htm
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