Optimizing Real Estate Transactions

With the internet age upon us, all industries are working on optimizing their processes for maximum effectiveness and efficiency. We’re now coming to a point where businesses that fail to adapt are beginning to lose out - no matter how prestigious they may be.

One industry where this is certainly the case is real estate financing. Reports show that there are around 23.2 million Americans who have a personal loan, with a large percentage of this being for mortgages.

And with Gen Z now deep in the workforce, going online is more important than ever before for real estate transactions.

Both of these deal with very different aspects of your business. But with both applied, you’ll find that you’re one step ahead of your competition.

Digital Loan Applications

Have you ever tried waiting in line at a bank?

Everyone who has done this knows that it is long, inconvenient, and something you’d stop doing immediately if you had a choice.

Well, guess what? With the internet around, digital loans are now becoming mainstream. And for good reason!

Digital loans can be done online from start to finish. The applicant fills out a form with how much they need and their personal and income details, and then they send any required documents to the lender all without leaving their couch.

On the other end, the lender receives the details, analyzes them, checks the credit score and any other relevant information, and approves or rejects the loan. In more modern setups, lenders can even use machine learning to help make a decision.

If approved, the money transfer is done online, and even the payments are done online as well. The lender and the borrower never have to meet in person. This is not only more convenient, but the entire process is a lot faster than traditional loan applications as well.

Secure Printing

As much as modern technology has improved workflows, it has also introduced a new set of challenges. One of these is security.

One of the weakest links in most organizations is their printing system. Everyone knows hackers try to break into computers and access files stored on hard drives and the cloud, but many people neglect to secure their printers.

When it comes to loan servicing printing, there is a lot of sensitive information hackers can collect by getting into these printers.

The good news is that securing printers isn’t too difficult. A few simple tweaks make it very difficult for hackers to get in:

• Using passwords for shared printers
• Limiting access
• Constantly updating printer software
• Deleting printer history
• Using an activity monitor on your printers

Again, it’s not difficult to secure a printer. However because so many organizations are unaware of the risks, they fall victim to hackers through their printers.

Ready to Optimize Your Real Estate Transactions?

Real estate financing is an extremely competitive industry. With more and more people looking for personal loans, more businesses are opening up. And with more businesses opening up, those who fail to adapt will soon have to close their doors.

There are several other ways that you can optimize your business, but these two are a great place to start.

Digital loan applications bring in clients who otherwise would’ve never shown up at your doorstep, while secure printing ensures that your business is secure and your client’s confidential information is safe.