Selecting the Right Document and Transaction Management Solution

Realtors no longer have to spend precious time making sure nobody missed a signature or driving across town to send an expensive FedEx package. Instead, significant productivity gains and expense reductions can be achieved by the use of electronic signatures for most transactions. While the benefits of going digital for document and transaction management are indisputable, Realtors need to be selective by asking some of the important questions listed in our Technology Guide before choosing a service provider.

For instance, what security features does the document and transaction management provider offer? E-signature technology allows clients to easily complete purchase, sales, and financial documents from their computer or mobile device, but some companies are vague about exactly who can see or share the documents. Clients share highly sensitive personal and financial information and it is the Realtor's duty to ensure document security. The best electronic document and transaction services employ an encryption technology such as Secure Socket Layers (SSL) to prevent any unauthorized individuals or malicious third party services from accessing the information.

In addition, the document and transaction management service provider should ensure that documents are tamper-proof through signature validation. For real estate transactions, it is important that documents are marked with time-stamped audit trails showing identity of individuals who accessed the documents and which device they used. Some companies also offer two-factor authentication that either probes the client to answer a secret question or texts a code to their mobile phone, which can further safeguard document access. Should an agent ever face a legal question, the proof of access timelines can protect the validity of the signatures.

But a Realtor's responsibility to their client goes beyond assuring document security during online transmittals—and that's why selecting a document and transaction management service that delivers comprehensive technical support is crucial. In this respect, two companies in particular stand out. Form Simplicity and its sister company Tech Helpline are known for delivering exceptional end-to-end agent service with 24-hour support before and after product implementation.

And, they are not just experts on their particular product. Tech Helpline will guide agents through any issue involving all the agent's technology, including Windows or Mac operating systems, smartphones, and numerous hardware products such as data storage devices.

As  Eric Forsman, Vice President of Technology Services at Florida Realtors, explained in a news release, "Form Simplicity and Tech Helpline, because they are Realtor-homegrown, have a built-in advantage over products built by third parties and industry outsiders. Both Form Simplicity and Tech Helpline deeply understand what brokers and agents need for their technology solutions. That's how Florida Realtors has been able to create both a best-in-class, lead-to-close paperless transaction solution, and the most popular tech support firm in the real estate industry."

From sharing and tracking documents to digital storage--in the cloud and the office--Realtors must keep security at the forefront of their transactions. Comprehensive technology support from a document and transaction management solution can make all the difference in managing a secure and smooth workflow.