Nowadays, everything is going digital. Document management software like eFileCabinet is taking filing systems and rendering them paperless. Telecommuting and teleconferencing are both popular trends in the business world. Even signatures and the act of signing off on contracts have been digitized.

These trends are possible because of the rapid growth and evolution of technology, but they are popular because they make businesses more productive and efficient. You convert your office to paperless because it saves on printing costs and makes filing systems easier to navigate. You allow telecommuting and teleconferencing because they enable you to have small office spaces, lower rent costs, and reduced travel budgets. And you make it possible for clients and customers to sign contracts and other documents electronically because doing so is quicker and more convenient for the client.


The Sales Psychology Benefits of Electronic Signatures

Virtually any sales-related industry can benefit from e-signatures to boost customer convenience and increase close rates. There is a particular element of sales psychology at work here. When customers have to print out a document, sign it, and send it in via mail—or worse, meet a sales representative in person to sign a sales contract—they begin to second-guess their purchasing decision. The barriers of time and effort cause the customer to question how much they really want to make the purchase in question, which can sometimes result in that customer getting cold feet or just changing their mind.

When you allow your customers or clients to sign contracts or other documents electronically, those barriers of time and effort are cut down to virtually nothing. You send a contract and request an electronic signature and your client signs the document and sends it back: the entire process can be finalized within about 10 minutes turnaround time—leaving no extra time for silly sales psychology to mess up your deal.


Digital Signature Technology in Real Estate

Real estate companies especially can benefit from implementing digital signature technology within their organizations. As notes, “signatures have been the bane of a real estate professional’s existence for generations.” The good news in real estate is that, generally, not using e-signatures doesn’t necessarily mess up close rates. Clients who have made the decision to close on a house have typically already thought it over in so much detail that they aren’t going to back out just because it takes a little more effort to sign the necessary documents.

With that said, real estate is one of the industries where signatures represent the biggest hassle. Purchase agreements to close on the house typically require the buyer to sign in a dozen or more places, to approve everything—from disclosures of information from the seller to the final sale price. Usually, the buyer, the seller, and the real estate broker will meet at the house to go over the paperwork and sign everything. However, if anything goes unsigned—either by mistake or by design—it’s the real estate agent who ends up wasting time trying to get in touch with clients or driving around town to get the necessary signatures.

As such, real estate agencies face a high opportunity cost if they choose not to adopt a digital signature technology. Pen-and-paper signings take longer and require significantly more effort—not only making things more difficult for customers and clients, but also stifling the overall productivity of any given real estate agent.

Indeed, when a realtor has to track down parties to sign forms or schedule meetings when all parties can be present for a signing, that’s time that they cannot devote to working with other clients, scheduling more showings, and closing more houses. No one wants to interrupt their day to sign documents or deliver those documents to their intended recipients. The result, for real estate agencies, is delayed closings. Add the costs of using services like FedEx to mail documents to clients (when necessary), and it becomes apparent that continuing to use pen-and-paper signing methods just isn’t worth it on any level.


Try out eFileCabinet for Electronic Signatures!

Is your real estate agency looking to trim the opportunity cost of using pen and paper for getting necessary signatures? If so, eFileCabinet can help! More than just document management software, eFileCabinet also offers built-in integration with RightSignature to meet your electronic signature needs. Send contracts, purchasing agreements, and other documents to your clients using our SecureDrawer client portal. Your clients can review the paperwork, provide their electronic signatures, and send the documents back—all in a quick and secure fashion! And since the SecureDrawer client portal is considerably more secure than email, you never have to worry about those documents falling into the wrong hands or being read by anyone other than the intended recipients.

Interested in learning more about SecureDrawer, RightSignature, or eFileCabinet in general? Click here to read more.