SOUTHFIELD — It’s long been said that real estate is the last industry to remain entirely local and paperwork-heavy, with too many obstacles to going digital.
Woodward Asset Capital is looking to change that perception as well as the reality of how real estate is transacted. “Tomorrow’s buyer is ready to do this digitally,” says WAC president Ronald Jasgur, a licensed broker, realtor and leader of the Michigan real estate industry. “There is no reason the real estate sales of the future won’t be digital.”
In the last quarter of this year and into the year to come, WAC is using the same technologies that built OfferSubmission and VerifiedShortSale to create software solutions for the real estate space, digitizing as much of real estate sales as possible. Perfect for relocation companies, real estate brokerages, REO to rental investors, builders and other similar entities, the cloud-based, software solutions WAC is creating will allow users to negotiate sales, guide transactions, ensure compliance and reduce risk digitally and virtually.
The technology is a variation of VerifiedShortSale, an award-winning software which enables servicers handling short sales to move transactions along more quickly, efficiently and without becoming susceptible to fraud.
“We are finally moving toward a truly paperless transaction in real estate,” says Jasgur. “One byproduct of the housing crisis is that sales transactions, especially those involving distressed assets, have increasingly become a digital transaction. Brokers, buyers and sellers are comfortable negotiating sales online in a secure environment. We’re not just talking about esignatures anymore.”
Both OfferSubmission and VerifiedShortSale were developed to prevent fraud, speed transactions, increase pull-through and ensure greatest recovery for banks. The solutions work in tandem with any servicing or asset management software to provide robust negotiation tools, increased transparency and a real-time digital audit trail, reducing risk and liability for all parties.
In December, WAC will release Purchase Pipeline, a web-based acquisition and transaction management system for institutional investors, REITs and hedge funds and REO to rental firms that provides the necessary tools to acquire individual properties nationwide.