Industry NewsTechnology

Forms auto-populate, but can agents explain them?

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As the industry moves to becoming paperless, the new technologies are exacerbating a problem that has existed for years: agents failing to make sure their clients understand the contracts they are signing. Are you taking the necessary steps to protect your clients? Your clients have found the perfect house but there are already two offers on it. They're in a hurry to submit an offer, so you take out your iPad, pop open the zipForms version of your purchase contract, and auto-fill the contract. The buyers digitally sign the contract, you obtain their deposit check, and you email the offer to the listing agent. The entire process took a little over five minutes -- isn't technology grand? I have been interviewing managers and broker-owners regarding the major challenges they're facing with new agents. Every broker and manager I have spoken with has cited the same problem: A substantial proportion of all agents have failed to master the fundamentals of the business. Not only ...