When did you first start using a online document management system? For me it was 12 years ago when I first got into the business. Our local associations banded together to put our contracts online. Many Realtors were hesitate to use it, but being new to the business I couldn’t understand why anyone would want to use the pre-printed forms with those nasty carbon copies.
Slowly but surely, people came along. Everyone saw the benefits – you could easily go in and make a change if before signing the client decided to change their numbers, etc.
But eSignatures are a completely different matter. We are 17 years after the federal law that made these signatures legal. So why according to the 2012 survey that came out yesterday of Members of NAR, just 13% use eSignature?
On March 21 this year, NAR held a half day eSignaure summit coordinated by staff members Melanie Wyne and Bill Gilmartin. Representatives from FHA, Bank of America, Wells Fargo, and other organizations were there. Much of the conversation revolved around REO transactions and the sentiment that they weren’t allowed. The banks want to change this. They want Realtors to know they should be able to accept digital signatures and they want to study where the fault points are. So it sounds like things are going to get better. But let’s make sure NAR and others stay vigilant.
It’s 2013. Every transaction should be able to use eSignatures if the client approves. Let’s all work together to make that happen.
