Digitization is not stopping at the real estate industry. Anyone who wants to digitize real estate transactions today will benefit from greater efficiency, transparency and speed. A paperless sales process not only reduces costs, but also improves the customer experience. In this article, we show how companies can implement digital real estate sales in five practical steps. The aim is to be able to fully digitize real estate transactions. Legally compliant, efficient and future-proof.

The first step towards digitization is the structured recording of all relevant property data. A digital property file ensures central data maintenance, easier accessibility and less susceptibility to errors. It simplifies collaboration between estate agents, owners and service providers. Standardized interfaces allow data to be transferred automatically and integrated into all sales channels. In addition, intelligent databases allow property information to be evaluated quickly. This facilitates the analysis and prioritization of property offers.

Digital processes must be legally compliant. Electronic signatures make it possible to sign confidentiality and brokerage agreements digitally. Fast, secure and legally compliant.1 The prerequisite is the use of qualified signature solutions that meet the requirements of the eIDAS Regulation. In this way, real estate transactions are digitized without incurring legal risks. In addition, digital archiving systems can be integrated to store documents and decision-making processes in a traceable manner and keep them available in the long term.

Integration into digital real estate platforms is essential. This is where supply and demand meet in real time. PropTech solutions considerably simplify lead generation in real estate.2 Modern tools provide support in addressing target groups, tracking interested parties and automated communication. This makes digital real estate sales the new practice. CRM systems and analysis platforms can be directly integrated via API interfaces to efficiently manage sales channels.

A paperless sales process also includes the marketing phase. Virtual viewings with a 360-degree view save time, reduce coordination effort and increase the closing rate. Digital tools for live tours and online communication make contact more efficient. Customers can view properties from the comfort of their own home before an on-site viewing takes place. This allows estate agents to plan their capacities in a more targeted manner. The use of AI-supported image analysis also enables better pre-selection and presentation of properties.

At the end of a fully digitalized sales process is the automation of central transaction processes. Modern workflow systems take over recurring tasks such as the evaluation of exposés, DCF calculations, location analyses and ESG checks. If you want to digitize real estate transactions, you have to think about these processes holistically and consistently. Supplementary modules - such as for automatic credit checks or AI-supported red flag analyses - ensure additional efficiency, security and transparency throughout the entire transaction process.

Companies that digitize real estate transactions gain clear competitive advantages. A digital sales process increases the closing rate, reduces administrative costs and improves customer satisfaction. Those who rely on PropTech and digital processes now will position themselves for long-term success in real estate sales. Digitalization is not a fad, but a new business reality. Companies that invest early on will secure sustainable growth and a stronger market position.

Sources:

1. Noerr LLP. (2023). Elektronische Signaturen in der Immobilienwirtschaft: Verträge rechtssicher digital unterzeichnen. Noerr Insights. https://www.noerr.com/de/insights/elektronische-signaturen-in-der-immobilienwirtschaft---vertraege-rechtssicher-digital-unterzeichnen?
2. bkbn.com. (2023). Die Immobilienbranche mit Prop Tech und KI revolutionieren. bkbn Blog. https://bkbn.com/de/blog/die-immobilienbranche-mit-proptech-und-ki-revolutionieren