Boost Document Security with E-signatures In Real Estate

Pen and paper process has become obsolete now. It is because paperwork is being done in electronic form. The process becomes simpler and quicker when you digitalize documents using signature online.

That’s why e-signatures are becoming increasingly popular. These are now in use in all business verticals, including real estate. The industry deals with its fair share of paperwork involving property sales, bids, etc.

Paper documents are widely being dominated by their electronic counterparts to lower costs. A real estate office involves documents to be transferred through many different departments. Therefore, shifting to electronic versions reduces confusion and time.

What is an E-signature?

Digital signature tool eSign Genie securely performs electronic signatures on documents. The technology ensures the documents are signed by the correct person. It eliminates any possibility of sender claiming the document is tampered after e-signing it.

Therefore, an e-sign boosts the security of real estate documents. So, you can rest assured that you are secure with these tools.

The process is done using an electronic fingerprint that acts. A coded message and connects the signer's identity to the document.

E-signature and security in real estate

“Why should real estate industry switch to electronic paperwork?” This question must be popping up. Many issues have engulfed the real estate industry. These include property scams, fraud, illegal transfer of property, blackmoney, etc.

So, one need not spend their valuable time, resources, and energy dealing with these. It makes it easy with e-signature technology. It ensures safe and secure deals in the real estate sector.

Here is why you should employ e-signatures in real estate to enhance security.

Why are e-signatures beneficial for ensuring security?

The onset of digitalization cyber crimes is hacking that is on the surge. So, realtors are becoming vigilant about protecting their clients’ confidential information. Thus, maintaining security of exchanged documents is a top priority for the real estate sector.

Besides, the documents are less likely to be read, forged, destroyed, or intercepted in transit.

The real estate company should use encryption technology to verify signature online. This ensures security of documents for any software glitches.

You should look for e-signature that includes a comprehensive audit trail. This will serve as an evidence to legally verify the e-signature. Also, it will provide details about every step of the signature process.

Also, independent e-signatures adhere to published, international standards, and hence the signed document is considered valid forever.

How do e-signatures work?

The technology behind signature online is called PKI or Public Key Infrastructure. With the PKI technology, these tools offer solutions to real problems.

PKI is an internationally recognized encryption verification technology. It has set the highest and most verifiable standard for digital signatures. So, it helps to identify a person or a corporate body digitally.

PKI employs asymmetric key cryptography for creating a digital signature. The public and private keys in the key pair are mathematically related to each other. It is practically impossible to calculate one key from the other.

The public key is used to verify and encrypt the document. A private key is used to sign and decrypt it. So, encrypted data is put over a digital document to make sure that it is authentic.

A Certification Authority then certifies the key pair before confirming. It also verifies a person’s identity requesting a certificate. Therefore, it helps forming a ‘Digital Identity’ for that person.

Can e-signature in real estate be trusted?

In this competitive market, industries are leaning on digitization and going paperless. Therefore, companies need a credible technology for securing signatures for legal document.

For this, the software provides signatory a private key that they must keep safe with them at all times. It is then employed to encrypt the algorithm involved. This encrypted data is then uniquely associated with the signed document in the form of an electronic fingerprint.

Also, a timestamp is generated at the moment of signing, which serves as historical evidence for creating the signature. This is important to prevent any malicious activity in the document. Any changes made in the digital document after this recorded time will make e-signature in real estate invalid.

Therefore, digital signatures by eSign Genie can be trusted. It is now recognized and accepted by the international governments as legally binding.

What are some loopholes?

Every technology has some drawbacks. Although e-signature in real estate is more advantageous, you must know the loopholes to make a better choice.

• The underlying technology for digital signature can become obsolete over time.
• It is not free as there may be costs involved while purchasing digital certificates from trusted authorities.
• Signature verification software required for digital certificate transactions can contribute to additional charges.
• Different countries have different standards of digital signature across the globe which may be incompatible with each other. Thus they can make the process of sharing and transmission of digitally signed documents complex.

Conclusion

Now you are aware of the security features offered by signature online. So, both you and your clients can have peace of mind knowing that the signed documents are safe. Also, the security will not be compromised by any malicious activity.

Employing eSign Genie technology, you can significantly reduce the processing time of documents. You can also save money on stationery supplies like paper, ink, postage, scanning, faxing, and transportation of documents physically.

Moreover, E-signature in real estate will allow the industry to contribute to a healthier environment. The industry will have less trash in landfills, as it will significantly reduce the usage of paper.

So, what are you waiting for? Hurry and introduce e-signature solution in your real-estate business today to lead others in this competitive market.