Paperless Path Starts to Catch On
August 18, 2010
NEW YORK CITY-Completing a real estate transaction can be a veritable paper chase of forms and documents. However, the industry is becoming more receptive to collecting and viewing the information in the digital domain, Titlevest’s Bill Baron tells GlobeSt.com.
"There are certainly plenty of people that are technologically savvy," says Baron, founder and president of the locally based title insurance agency, which developed the ACRISasap tool in 2005 and earlier this year launhed the Interactive Online Report. "They sleep with their Blackberrys and live on the computer. Other people are a little slower to embrace technology. As people become more comfortable with technology, they’re more likely to use some of the services that might have been less popular years ago."
ACRISasap, intended to help real estate attorneys save time in dealing with the city’s labyrinthine Automated City Register Information System when it comes to filing E-tax forms on property transfers, was patented earlier this year. The more recently launched IOR, which can be used on desktop and laptop computers, lends itself especially well to the iPad, Baron discovered recently.
The tablet-computer format has proven useful in a number of real estate-related applications, such as conducting searches of listings databases or using the Sketches tool for marking up property photos on the go. Baron say it happens to be a good match with IOR as well, although he didn’t develop the software with that format in mind.
While the paperless approach to title insurance transactions is one that Baron hopes attorneys, brokers and other users will embrace, "in some respects we're still ahead of the curve," he says. "There is still a large segment of attorneys that like to look at paper reports, and unless they specifically request that we don’t, we will provide paper reports with each order. We would prefer not to; it's a cost saver and it's better for the environment, but we recognize that people still prefer to receive paper."