How Document Scanning Services Help Real Estate Agents Manage Vital Records

The real estate industry has been growing rapidly because people are always seeking ways to invest their hard earned money. The demand for houses, apartments, offices and additional properties is also increasing along with the growth in population. This has led to the generation of large volumes of paper records in the real estate sector that are difficult to handle and process. Digitizing and maintaining accurate records in real estate sector can speed up operations and ensure that everything is done according to the set rules and regulations. With digitized real estate records, it is possible to store, retrieve and share the documents online with utmost ease and speed. Eliminating paper-based documentation has also made it possible for the industry to go green. Many realtors are now recognizing the advantages of converting their paper based records into its digital format. Working with a reliable provider of document scanning services can help real estate agents convert all their vital records into digital format.

Real estate brokers deal with a large number of paper documents on a daily basis,  including sale and rental agreements, mortgage contracts, lease applications, bank paperwork, and more. This high volume of paperwork can lead to misfiling of property documents and can also take valuable time away from quality time spent searching through huge stacks of documents. Key real estate records that can be digitized include:

  • Sale Deeds
  • Rent Agreement
  • Sale Agreement
  • Possession Letter
  • Sublease Agreement
  • Payment Receipt
  • Property Tax receipt
  • Lease Agreement
  • Allotment Letter
  • NOC
  • Completion Certificate
  • Occupancy Certificate
  • Rent Agreement
  • Encumbrance Certificate
  • Lease contract
  • House Rental Contract
  • Tenant Lease Agreement

Every year, up to 30% of real estate papers and forms go underutilized due to policy changes or the fact that they are no longer relevant for future use. Clients increasingly expect digital forms from realtor businesses to avoid wasting time. When it comes to document security, digital storage outperforms manual storage. When digital documents are lost, an automatic backup of the information is created, giving customers and businesses peace of mind that their data is safe. Only authorized individuals have access to digital files and it is also fire and theft safe.

Digitization helps to prevent misfiling and human errors and also automates the workflow seamlessly. By digitizing their documents and data, real estate firms can prevent waste of paper and aid the environment on a massive scale. All of the folders on realtors’ desks include crucial information about properties and customer paperwork and converting them into digital format allows realtors to easily organize their data.

Four Steps to Digitize Real Estate Records

  • Make an inventory of your existing and missing data in relation to your goals. This will help you to figure out which data sources are available and how to find the ones that aren’t (for example, retrieving missing consumption data directly from your supplier’s user account).
  • Combine and sync all of your data into a single solution to make information more accessible. This will help reduce time spent on analyzing it.
  • Make your data more trustworthy by evaluating its quality based on its source and ensuring that you have all of the information you need before using it.
  • Cross-reference and analyze your existing data using appropriate tools to meet your objectives. Develop an energy management approach, regulatory compliance, ESG reporting, responding to a request from your Property Manager, taking voluntary initiatives to improve the extra-financial performance of your assets, and so on.

Real estate papers are among the most sensitive documents out there. These documents include contracts, deeds, mortgages and other legal paperwork that need secure storage and management. Using filing cabinets, filing rooms and warehouses to store documents can become a hassle for real estate companies when it comes to retrieving the information needed. With a digital database, they  can maintain all their records with ease. Digitization will make it easy to organize the entire portfolio of real estate properties and categorize all the information based on various parameters like location, building type, etc

Real estate companies have started to realize the importance of digitizing their real estate records. By scanning real estate documents, these documents can be stored electronically in a digital format. Digital files can be retrieved through a simple search in seconds as opposed to searching through file cabinets which can take hours or even days. The process of digitizing real estate records can be carried out efficiently by a document scanning service provider.

1 thought on “How Document Scanning Services Help Real Estate Agents Manage Vital Records”

Leave a Comment