Sandra RS

So many people that I know personally and care a great deal about were driven to purchase a home in the last couple of years because they thought it was a good investment. Many of them shared the sentiment that if they hadn’t done so, they would “miss” their opportunity to ever purchase a home. Many saw real estate values soaring out of their reach of affordability and felt compelled to act before it was “too late.”

A sense of urgency hung in the balance because they saw people all around them profiting from their real estate gains. To make matters worse, Real Estate Gurus were touting get rich schemes. Guys like Robert Allen with his no money down tactic- that landed him in Federal Prison in the mid 80’s for tax evasion, was suddenly back in vogue and so was Robert Kiyosaki; his Rich Dad Poor Dad book was one of the best selling books in America along with a score of other real estate related books at the time. As many of you already know, he was shown to have done very little real estate investing or posses any other investing experience. He made most of his fortune through becoming a “guru.”

Owning real estate was positioned at the time as the best investment that you could make, because it could never go to zero unlike a stock, making the reference to the last bubble in recent memory. The sense of urgency compelled some of my friends and acquaintances to take out mortgages they clearly couldn’t afford and, worse yet, loans they barely understood. This was further compounded by the willingness of the mortgage industry to lend money to these people who could not afford it- the word “subprime” was born during this time. The lenders too were drinking the same "Kool-Aid" that many shared- homes would forever increase in value.

Looking back, it’s as if people went from investing in tech stocks in the early 2000’s to real estate in the mid 2000’s. During the real estate boom, I remember everyone talking about Real Estate much like they did about tech stocks in the late 90’s. From boom to bust; unbeknownst to many, the money was just following the next bubble.

My husband and I purchased our home right before the real estate boom in 2000 and sold a significant portion of our positions in our 401 (k) for a down payment; which were heavily loaded with tech stocks (as most mutual funds were at the time) right before the Dotcom crash in order to buy our home. I am no psychic and I’m not going to lie to you and tell you that we timed the market, it was just coincidental, we just didn’t get caught up in the frenzy that is now affecting so many we know and love. We both just finished business school; we have our MBA’s in finance, and are just now getting into Real Estate. I hope that our timing serves us well.

I have started real estate as a second job to supplement my income and make more money for my growing expenses. You see, I have two daughters on their way to college and found that I needed a way to earn extra money for their textbooks, tuition, and board. Fortunately, my husband is a real estate broker and I have signed up under his broker’s license to start my business; he offered me a generous split and hired me on the spot!

I have found that a lot of the work that a 21^st century real estate agent can be accomplished online. I currently use California Association of Realtor’s Winforms online to write contracts on my computer and even incorporate Docusign; which allows my client’s to digitally sign from their computer. I have been able to email plenty of offers from my clients over to the listing agents in this manner. It also saves me a lot of time while at my full time job. This sort of efficiency has enabled me to juggle both careers.

I am relatively new to real estate but find it amazing that many of the agents never even knew about digital signatures and are surprised to see RPA’s (Residential Purchase Agreements) emailed over to them in .pdf formats along with the supplemental paperwork, such as prequalification letters, account statements, copy of deposit check; which I scan and convert to .pdf format.

I’m not sure if it’s just the area I work in or what, but many of these agents seemed surprised when I email them my client’s offer along with digital signatures. One agent demanded that I get “real” signatures and to fax over the offer (in lieu of email); even though I told him that by Federal law electronic signatures cannot be denied. In fact, according to Federal law, “a document or signature cannot be denied legal effect or enforceability solely because it is in electronic form.” He wouldn’t have it and I reluctantly complied and “efaxed” him the documents that he requested.

Efax has been another digital godsend. I use it retrieve fax corresponds over to my computer and it automatically converts documents to .pdf format. I also get both a text message and an email letting me know of incoming faxes. These tools have allowed me manage my time to devote a sufficient amount of attention to both careers. I have to give my husband credit for his training and direction. I am grateful that these tools are available in today’s real estate world. How do you make your business run more efficiently through the use of technology?