Why have only a small percentage of real estate transactions gone paperless?
The prospects for technology streamlining certain aspects of our business and enhancing the entire process are glowing. However, challenge that we face is that the tide of consumer habit moves slowly. Adoption and change on the part of real estate professionals appears to be moving even slower. Agents do not like change for change sake. At this point in time, even with lots of work and creative energy directed towards the paperless transaction, it is still in its early stages and clearly not eliminating any costs. The transaction is still not interactive with all the other components; mortgage, title, appraisal and inspections. Even though the technology is there, the notion of a paperless transaction that can be quickly communicated or transmitted to various components of the transaction has not been realized. As we move forward with companies providing one-stop shopping (those having all the key components of the transaction in house), the opportunity of seeing more of the paperless
