Future-proofing Real Estate Documents Goes Beyond Digital

The early stages of the pandemic saw a global surge in offices vacating or reducing occupancy as people started to work from home (WFH) to curb the spread of coronavirus. Afterall, we are all in it together.

 

2022 comes around and as WFH orders have remained in place for the best part of two years, many have seen their leases expire. But as organisations start to map their return to work in the coming months, and people look to recalibrate their life, finding a space which enables collaboration between people, culture and technology (and successfully leasing) somewhere will become tricky to navigate remotely.

 

Research by the Property Exchange Australia (PEXA) revealed that the Australian property market produced an overall higher quality service and efficiencies offered by electronic conveyancing over traditional paper-based settlement systems. 

 

It’s a constant juggle for any role that involves documents being created, and as an industry that traditionally relied heavily on paper-based processes, real-estate was no stranger to misconduct. Anyone who is involved in project management knows that documents evolve throughout the numerous stages of development before the final version is reached. It may undergo various revisions, comments, sharing, redrafting – it’s a headache. 

 

Although the pandemic pushed the sector to be more innovative, with electronic documents, it’s not unusual for documents to be duplicated, and you end up with five “final” versions floating around your network. Without streamlining this process, it will only result in discrepancies between agreements. Not only will this make your foundation invalid, but also erode levels of trust and transparency between parties due to inconsistencies.


Moreover, these documents are highly confidential. Especially with the prevalence of remote working, many are operating within different network environments, potentially sharing different versions of a document. It is necessary to ensure everyone is confident, satisfied, and in agreement with the final version.

 

Having version control is critical to ensure that all parties involved are viewing the latest version of a document. In using a secure, digital document signing platform, it will help keep an audit trail of any changes made, who has seen the document, and whether or not specific individuals have approved, with a timestamp. As this creates a more streamline process, it allows for the agent to spend more time giving the customers the personalised service they expect.

 

Implementing a decentralised digital document solution will help simplify, minimise and keep the process tangle-free. Dedoco is the only blockchain-enabled digital document signing platform, which means that it is tamper-proof and no-store. The automated and digitised signing process integrates existing platforms with trusted, verifiable and connected documents, allowing agents to easily send between parties for signing and returning of agreements.


Not only does having version control on a digital system help you streamline processes, but it adds a level of environmental, social, and corporate governance. According to Paperless Productivity, one tree can only produce 17 reams of paper on average, and would take about 100 years to grow. Dedoco has helped more than 11,400 documents to be digitally signed instead of being printed, which has directly contributed to minimising the negative environmental impacts of a paper-based organisation. Not to mention also saving costs for businesses at the same time - ADP once reported that a paperless office saves around USD$80 per employee in a year. 

 

You can be confident that in using Dedoco’s platform that delivers trusted, verifiable and connected documents, the information and documents will be managed exclusively by the agents and parties involved. Nothing can be altered without the acceptance of the agent, guaranteeing peace of mind in addressing security challenges and avoiding pressure from all involved. This will further save operational time and resources that agents undergo in the process of checking and verifying agreements, while boosting trust and transparency through all stages of developing a document through verification of signatories and confirmation of any changes, so everyone can be confident with the process.

 

If you’re interested in discovering how you can better manage your digital document processes and innovate the way your organisation operates, visit https://www.dedoco.com/ or drop us a message at https://www.dedoco.com/contact-us/.