Industry News

Paperless real estate transaction rolls forward

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

SAN FRANCISCO -- Great strides are being made toward the paperless real estate transaction, but standards must be developed so different transaction managers can talk to each other, a panel at Real Estate Connect 2005 in San Francisco said today. The goal, panelists said, is for all the players in the real estate process – the broker, the real estate agents, the buyers and sellers, the mortgage providers and the settlement office – to handle the documents and procedures electronically. This would bring down cost, time and hassle. Developing standards is key to that process, panelists said at the conference, which examines innovation and technology in the real estate industry. "Exchange of data is important," said Josh Sharfman, CEO of the California Association of Realtors' Real Estate Business Technologies subsidiary. "If we are able to establish standards, if I adopt the standard then my product will work with all transaction managers." Expanding on the concept, Kelly Pa...