Digital Biometric Signature
How to Use Digital Biometric Signature for Real Estate Agencies?
September 1, 2023
The real estate sector is one of the fastest-growing and paper-dependent sectors. Documents such as Lease Agreements, Exclusive Listing agreements, assignment contracts, or inspection forms are still managed with paper documents. filling out and signing processes of these documents take a lot of time for consultants and property owners.
Preparation, printing, and signing of contracts and forms increase costs. In addition, scanning, transferring, and archiving are both costly. Employees spend a lot of time dealing with these processes. Eventually, it increases the workload and reduces productivity.
In addition, all, documents often get caught in the distance barrier during the signature process. This can directly lead to portfolio loss. A simple signing process can reduce your revenues.
However, the rapidly digitalizing world has started to give direction for the solution of these problems in the real estate sector. It is possible to speed up and simplify time-consuming and costly document processes with an electronic signature solution such as a digital biometric signature.
A digital biometric signature, which is a digital alternative to the wet signature, is an advanced-level electronic signature. It is formed by behavioral data such as speed, acceleration, pressure, coordinates, etc., collected via touch screens while signing. This data is locked on the document as unchangeable and verifiable in front of the court. A digital biometric signature makes the process faster and more secure while allowing for remote signatures.
To make it compliant with ISO 19794 and ISO 32001 a legally valid timestamp that is provided by Qualified Trust Service Providers is added to documents after each signature and also IP address, phone number, signing device brand/model, and other log data collected at the time of signature. Eventually, all these embedded behavioral data, timestamps, and log data make the PDF document legally binding evidence.
In the real estate industry, the digital creation of documents such as exclusive listing agreements and assignment contracts makes the process faster. With the legally valid signatures, you will receive digitally, you will not put your customers into the troublesome processes caused by paper and you can increase your customer satisfaction.
At the same time, you can minimize the listing documents that you cannot sign due to distance and thus portfolio losses. You can turn your documents into legally valid evidence by collecting signatures from a large number of people in seconds. In this way,
Processes are completed faster and parties spend much less time on signature. As you make your work more productive, you can shift your focus to growth and new markets.
In addition, wet-signed documents must be physically stored. In these cases, the risk of loss and damage to documents increases. On the other hand, you can safely store your documents signed with a digital biometric signature in the digital environment. While the person is signing, more behavioral data can be collected in the digital biometric signature compared to the wet signature, making the biometric signature more reliable at the point of verifying the signature.
Besides digital biometric signature solutions, you can eliminate the need for paper at the point of creating contracts with the tools by which you can create digital copies. Thus, you end the costs and workload caused by paper such as printing, scanning, and archiving. In addition, since your documents are transmitted digitally only to the signatories, you eliminate the risk of your papers falling into the hands of unauthorized persons.
You can use applications such as Inspakt to create your documents digitally and sign them with a digital biometric signature during the processes you carry out in the real estate industry.
You can try Inspakt for free and start digitally creating and signing your documents right away.
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