Real estate is one of the industries with the most legal paperwork flying from buyer to seller.

Buy or sell a house and expect to sign and have notarized over 10 pages of legal docs.

Once the paperwork is signed and notarized, what’s the process for filing and storing the documents after the deal is closed?

This and other burning questions are why document automation in real estate and secure storage of documents is so important.

Automating your real estate documents is not always one of the first agenda items on list, but it should be.

Staying organized and centralizing your documents is crucial if you want to stand out and get more deals closed.

Let’s dive into how document automation can streamline your processes as a real estate company, real estate agent, or real estate broker – to help save you time and money, and enhance client satisfaction along the way.

Key takeaways:

• Document automation for real estate involves leveraging digital systems to manage and organize property-related paperwork efficiently.
• By adopting automation, real estate professionals can minimize errors associated with manual data entry, reduce costs linked to physical document storage, and ensure seamless collaboration among stakeholders.
• What is automation in real estate? It enhances compliance with industry standards and legal requirements, facilitating faster transactions and enhancing overall productivity.
• Choosing the right real estate document automation software, such as PandaDoc, can significantly streamline workflows, optimize document management, and ultimately help real estate professionals close more deals effectively.

First things first, what the heck is automation in real estate?

Document automation in real estate refers to the automated management and organization of property-related paperwork and records using digital systems – ensuring secure and efficient access, retrieval, and management of documents throughout their lifecycle.

Document automation for real estate helps to:

Minimize errors often associated with manual data entry

When you implement a document management system at your company, you help ensure information is consistent and up-to-date.

Say goodbye to the old way of storing documents

Automation in real estate reduces paper usage, storage costs, and administrative expenses associated with managing physical documents.

Ensure everyone has access to important documents

Real estate document storage enables quick and secure access to documents from anywhere, improving collaboration among stakeholders such as agents, buyers, and sellers.

Helps your team stay compliant

Software used for real estate paperwork helps maintain regulatory compliance by organizing and managing documents according to industry standards and legal requirements.

But why should I use document automation for real estate?

Picture this scenario: You’re about to catch a flight when a client calls about a property they’re eager to make an offer on.

Prior to a world in which you use software to organize your real estate files, you’d need access to a fax machine or wait until you were back in the office to finalize the paperwork, gather signatures, and get the documents notarized.

Today, with automated document systems like PandaDoc, you can handle everything from anywhere, swiftly and securely.

Smart capabilities like document storage, virtual data rooms, and remote notary services, not only enhance efficiency but also transform how agents manage their workflow.

Instead of being tied to desks or offices, you can engage with clients wherever they are, seizing opportunities in real time.

Sure, there’s a bit of a learning curve, but once you get the hang of it, automating your real estate documents with a few taps will have you wondering how you ever managed without it.

So how exactly does automation for real estate documents save me money?

Document automation isn’t just about saving money; it saves time too. Real estate agents, brokers, and teams can use the power of automation to avoid costly mistakes.

Navigating the complexities of real estate transactions involves a ton of calculations.

Fortunately, real estate software solutions like PandaDoc streamline these tasks, allowing you to instantly drop in pricing tables using plug-and-play templates, so that complex analyses transform into swift, reliable results.

When you have a quick turnaround and deadlines, being able to pull these numbers together fast can make or break a deal.

But…what’s the best way to organize real estate files?

Now that we’ve covered the cost savings benefits of real estate automation, let’s move onto how to organize these files once they’ve been created.

How you approach organizing your real estate files will largely depend on the size of your company and budget, but these points will remain constant no matter what:

1. Create a centralized digital repository

Utilize a centralized digital repository provided by document automation platforms.

This repository acts as a single source of truth for all your real estate documents, accessible securely from anywhere with an internet connection.

Whether it’s contracts, property listings, client correspondence, or financial records, everything is stored in one place.

2. Determine your folder structure

Establish a logical and consistent folder structure within the repository.

Create main folders for different categories such as “Properties”, “Contracts”, “Client Communications”, “Financials”, and more.

Within each main folder, further subdivide into specific folders for different properties, clients, or transaction stages.

3. Standardize document naming conventions

Implement clear and standardized naming conventions for your documents.

Include relevant details such as property addresses, client names, transaction dates, and document types.

For example, “123_Main_St_Contract_2024-06-24.pdf” ensures clarity and ease of retrieval.

4. Don’t forget about metadata tagging

Leverage metadata tagging capabilities offered by automation systems.

Attach searchable keywords, tags, or attributes to each document to enhance discoverability.

This allows you to quickly locate files based on specific criteria like property type, transaction stage, or client name.

5. Maintain version control

Maintain strict version control to avoid confusion over document revisions.

Document automation platforms often include version history tracking, ensuring that you can access previous versions if needed and clearly identify the latest updates.

6. Manage access permissions carefully

Ensure that team members, clients, and stakeholders have appropriate access levels to safeguard sensitive information while promoting collaboration.

Encryption and secure authentication protocols add an extra layer of protection.

7. Set up automated workflows

Outline workflows for document creation, review, approval, and distribution.

Define workflows tailored to different types of documents or stages of transactions.

Automation reduces manual errors, accelerates processes, and keeps everyone on the same page.

By standardizing how you organize your documents, you can stay on top of project management, do your job faster, minimize administrative burdens, and focus more on client relationships and deal-making.

At this stage, you may be wondering, do I have to do all of the organizing and project management myself?

The answer is no! There is world-class real estate automation software available to help you do all of the above with ease.

Top 4 real estate automation software to help you close more deals

Best for agents: Monday.com

The monday.com platform offers a centralized solution to efficiently manage contacts, interactions, and property listings.

Key features include setting up a Properties board for managing listings, visualizing properties with Maps, automating workflows to save time, syncing contacts to properties for contextual insights, and creating personalized task management boards.

Users can leverage Views and Dashboards to gain comprehensive insights and track performance metrics.

The mobile app facilitates on-the-go access and updates, ensuring flexibility and responsiveness.

With monday.com, real estate professionals can optimize their workflows, enhance productivity, and make informed decisions for business growth.

Best for brokers: Brokermint

Brokermint provides a comprehensive transaction management system designed to streamline and automate real estate transactions.

Key features include tailored checklists for managing documents and communications, robust eSignature capabilities for secure form handling, and proactive notifications to ensure deadlines are met.

The platform also includes audit and compliance tools for effortless record-keeping and broker reviews.

Additionally, Brokermint offers insights into buyer offers and provides a centralized hub for monitoring transaction progress, ensuring efficient closings and enhanced operational visibility.

Brokermint aims to modernize brokerages by offering customizable solutions that simplify transaction management and optimize back-office operations.

Best for teams: Dotloop

Dotloop integrates intuitive features such as eSignatures, document editing, and online storage to streamline transaction processes and ensure compliance.

Dotloop offers tailored solutions for agents, brokers, and teams, facilitating tasks like transaction tracking, commission calculations, and document management with real-time updates and mobile accessibility.

With high customer retention rates and top-rated mobile app satisfaction, Dotloop stands out as a comprehensive solution for efficient real estate management.

Best overall: PandaDoc

PandaDoc offers a feature that makes it stand out from other platforms. PandaDoc Rooms revolutionizes real estate transactions by providing a collaborative platform for streamlined document management.

From lease agreements to purchase contracts and inspection reports, PandaDoc automates workflows, ensuring efficient processes and exceptional client experiences.

It integrates seamlessly with existing systems like Salesforce and offers features such as notarization of documents online, secure eSignatures with audit trails, and customizable templates for faster document setup and reduced errors.

PandaDoc is highly rated in the real estate industry for its ease of use and comprehensive document solutions.

I’m sold…what’s next?

Simplify your real estate document storage. Find what you need faster. Get more deals done. See how PandaDoc works for you.

Sign up for a demo and change the how you organize real estate files forever.

Disclaimer

PandaDoc is not a law firm, or a substitute for an attorney or law firm. This page is not intended to and does not provide legal advice. Should you have legal questions on the validity of e-signatures or digital signatures and the enforceability thereof, please consult with an attorney or law firm. Use of PandaDoc services are governed by our Terms of Use and Privacy Policy.