Updated: May 1
In the world before COVID-19, real estate lawyers acted as fraud fighters and gatekeepers for the bank. They ensured real estate teams and agents would have smooth transactions, by their in-person services.
Like many of us, they found themselves adjusting to how they practice, changing our office settings to working remotely and videoconferencing, which was foreign to most of us.
Real Estate Lawyers have had to adapt after years of long resisted adaptation to moving law businesses online. In some area’s lawyers still have to physically hand over the key to their new home, when the coronavirus hit, all of this was a disrupted mess.
Because all of this is still so new for real estate lawyers, I talked to Reuven Gorsht, an investor and advisor, all about the legal help you can find online with the changing times we’re finding ourselves in. He’s also a member of the team at Deeded, which is founded on online closings for a simple and easy experience.
Their team of experienced legal professionals, entrepreneurs and technologists aid in making sure their users have the best closing experience in the real estate industry.
They grew tired of seeing a closing process with confusing steps, legal speech that no human can possibly understand, and the limiting working hours of law offices that require a consumer to work around the lawyer’s schedule and location.
With his experience in the real estate law world, we knew that Reuven Gorsht would be a perfect fit for our Everything Legal Ultimate Mastermind.
From preparing yourself to securing your business, this article will cover everything you need to know about the new process of online Real Estate Lawyers.
Preparation always meets opportunity. We were built for a digital age. We’ve invested in a future that turned out to be now. It’s why we feel so prepared to serve you during these difficult times and beyond
“Mindset is crucial, It’s a great time where preparation does meet opportunity, there is a great silver-lining at the end of all of this,” Gorsht says.
There is always a silver-lining, regardless of how long something lasts, or the magnitude of its impact. From a business standpoint, we’re all equal. Whether you’re on top of your game, or you’re just starting to play, COVID-19 has been an equalizer.
“Boris Johnson and Prince Charles are not immune to this, neither are we and neither is the impact of the disruption we’re currently faced with. The silver-lining in this is that we all have the time to take this pause and use it to reinvent ourselves and our businesses,” Gorsht says.
Taking Legal Online
Deeded, the Canadian program based in Ontario, brings the closing process online, to work with modern consumers and the ongoing digitization of real estate transactions.
Only weeks after launching, Deeded’s vision would become the reality, when real estate and mortgage transactions need to be closed. The trying times we find ourselves in, caused by COVID-19, has made the entire industry adapt to accommodate a new reality.
“We’ve gone all virtual to secure closings by video,” Gorsht says about the online program. “Everything has been disrupted, everything is up in the air. From a closing perspective, even to make transactions happen, we’re highly reliant on many different people to help the process.
This is where technology, streamlined processes, and real estate teams shine.
Talk to your Real Estate Lawyer
“Anyone transacting nowadays needs assurance, the number one most important thing you can do for business right now is to talk to your real estate lawyer,” Gorsht says. “You want to ensure that clauses are put in place and ready to support you in any potential incident that occurs.”
We’re being very innovative right now, conducting our businesses online. The right clauses can help us be protective of our time along with our face-to-face time.
Ontario remains under a state of emergency, and real estate agents have a duty to minimize direct physical interaction. Embracing digital technology is essential in order to reduce the risk of COVID-19 transmission.
● Using virtual tours instead of in-person viewings
● Using electronic documents and signatures
● Using electronic funds transfers
● Communicating with clients via email, apps, and video conferencing, instead of face-to-face
This comes back to making choices. There are a lot of people staying home. Even though we’re considered an essential business, it is not business as usual.
You don’t want to be a contributing member to this virus, but we all have our businesses and obligations we have to tend to, so choose responsibly and take your business online, and always social distance.
SOURCE: Kathleen Black Coaching & Consulting Inc. 905-725-6224 / Toll Free 1-844-866-5222