How Soon Before You Are In Your Pajamas During A Closing?

By
Real Estate Mortgage Broker with Eric J - Dream Home Financing

 

The year is 2010 and you can do all of your holiday shopping online, get your e-mails, phone calls and manage your contacts from a hand held device.

 

So, why are we coordinating closings for when all parties can get into the same room? He are using Active Rain to help with our networking and marketing efforts but then have Fred Flintstone’s pterodactyl manage the closing and the documents. Even the contracts are still hand written in many instances. Hold onflintstones while I rub two sticks together to keep warm.

 

I know some of us have experience using e-signatures, but it is the exception and not the rule. In addition, it is used for only a portion of the process and the individuals need to be in the room with the closing agent.

 

e signThe future is all electronic and from remote locations. How many people have used a service such as Go To Meeting? It is essentially a webinar service where you have someone leading the meeting (ie a closing agent). The leader can give control of the screen to any individual on the conference so that person can click on the necessary areas of the presentation. Meanwhile, all are also dialed into a conference call number so they can speak.

 

Once this becomes main stream, you can roll out of bed, grab your coffee and log in to participate in the closingwhile still in your pajamas. Buyers and sellers can close from work without having to take a day off. It can happen while they are on vacation, on a business trip, etcpajamas

 

 

This is not to say that we should take the face to face transactions away. It just offers options which can help improve the entire process.

 

Who else is ready for the future?

 

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Topic:
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Rainmaker
380,167
Elva Branson-Lee
CDPE - Atlanta Real Estate & Short Sale Agent
Solid Source Realty GA

Eric, I already do so much of my business in my pajamas, that I actually find it fun to get dressed and go out to the closing.  You know, it's kind of a celebratory occasion, after all. I enjoy seeing my clients' faces when everything is finally settles and the keys change hands. I dress up, even put on a little make-up,  because if not then, when?

January 30, 2010 09:00 PM
Rainmaker
477,123
Melinda (Mel) Peterson
The Naked Blogger 541-659-1620
Real Estate Cafe LLC

Now there's a thought... enjoy my morning muffin and mocha in my comfy pjs while talking with my clients on Skype or GoToMeeting.  Yeah, I like it!

January 30, 2010 11:32 PM
Rainmaker
115,271
Kim Dove
Realtor - Jacksonville FL
Watson Realty Corp

Sounds good to me. The only thing is the amount of potential fraud that could go on.

January 30, 2010 11:35 PM
Rainmaker
133,700
Eric J
Eric J - Dream Home Financing

Yeah coffee and a closing while you are on a beach in the Bahamas !!  Kim, there are many ways to fix the fraud issue. For example, the closing agent can (in advance) mail out (or e-mail) a letter with a unique code to each of the individuals. Then, when they log in, they provide that code plus SS# and other personal information to log in. It is not that hard.

January 31, 2010 06:00 AM
Ambassador
1,042,455
Ellie McIntire
CDPE, Howard County Homes for Sale
Ellicott City Clarksville Howard County Maryland Real Estate

Ha, some of the agents I have worked in a transaction with look like they are still in their PJ's at the closing table.

That being said, I actually enjoy the interaction when the seller and the buyer get to meet at the table.

January 31, 2010 07:11 AM
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Rainmaker
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Eric J

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