Important Information Regarding Use of Electronic Signatures

Important Information Regarding Use of Electronic Signatures

Thursday, March 24, 2011

Recently, the California Association of REALTORS® (CAR) introduced a new member benefit (zipLogix Digital Ink™). Questions have arisen regarding the use of electronic signatures. The following is a brief summary of the law regarding the use of electronic signatures. It is by no means all inclusive but merely provided to highlight a few issues REALTORS® need to think about.

1. Consent to use electronic signatures from both the buyer and seller is required in advance, prior to using electronic signatures in transactions, even if only one party is not using electronic signatures.

2. Although consent can be oral or inferred by conduct, it is better that agreements be memorialized in some type of writing, particularly in light of Article 9 of the Code of Ethics. If you are involved in a transaction where electronic signatures are proposed, have evidence of consent in writing, even if only confirming emails.

3. Not all documents allow for electronic signature. Wills, codicils, trusts, certain loan documents, and many notices including eviction are some examples of those excluded by the California laws regarding electronic signatures.

4. There may be authenticity issues with electronic signatures, so good documentation is strongly recommended.

5. Standard of care issues are important. REALTORS® have some obligations to go over documents with their clients. REALTORS® need to develop standardized cover letters or checklist to provide what was sent, what was discussed, and so forth. It is really no different than if the meetings were face to face or over the telephone. The difference, of course, is that there could be some temptation to do things quickly. REALTORS® must remember that pursuant to Article 13 of the Code of Ethics they are not lawyers, but there is still some obligation to make sure clients understand what they are signing, particularly as it applies to a transaction as large as the sale of a family residence.

In conclusion, REALTORS® need to be careful not to allow this amazing new benefit to replace good, solid professional care. (CAR has published a Q&A on Electronic Signatures in May 2010)

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About erolbayraktar

Erol Bayraktar, BRE 00179251 Manager Coldwell Banker Previews International Irvine Erol Bayraktar brings with him a broad background as branch manager of the Coldwell Banker Quail Hill – Irvine office. Erol is an Orange County native and began his real estate career in 1994. Erol’s success and extensive experience in selling homes in the luxury market proves to be a cherished resource for Coldwell Banker agents. He has earned numerous top-producer awards with the successful completion of more than 100 transactions. Erol has an extensive track record of helping his agents achieve top producer status while utilizing his internet expertise, personal coaching, training and business development. He works constantly with agents to develop marketing materials and advertising programs that differentiate themselves in the marketplace and generate income-producing leads. He values the benefits that technology can provide to agents in order to help them become more efficient and more productive. “I constantly strive to take our sales associates and office to the next level. It is my goal for our customers to continue to be extremely satisfied with the services we provide through our professionalism, market knowledge, personal attention and complete family of services experience. It is my goal to help others enjoy the same levels of success that I have been fortunate to enjoy!” Coldwell Banker Quail Hill – Irvine agents benefit from a manager who is available 24/7 to assist with any situation. Erol provides backup for his agents with various situations in which they need advice or support. Prior Sales Manager Prudential California Realty Yorba Linda Erol Bayraktar brings a broad background to the job of managing an office. His Experience includes a track record of success in real estate as well as helping agents achieve top producer status as sales manager and trainer using his expertise in personal coaching and business development. Having grown up in Yorba Linda, Erol began his Real Estate career in 1994. Since then, he has constantly striven to work in the Luxury markets and higher end price ranges. Erol has been recognized by his former companies for his outstanding production in the luxury market. He has listed and personally sold homes up to $4.4 million dollars and managed listings for his team up to $11 million dollars. Erol’s extensive experience in selling estate homes will prove to be a wonderful resource for Prudential’s agents, who already have a strong presence with Fine Homes in Yorba Linda and across North Orange County. Rich Cosner, owner of Prudential California Realty, is thrilled to welcome such an exciting addition into his Prudential family. “Erol is a knowledgeable and very professional addition to our management team,” says Rich. “His experience in the high end price ranges makes him a perfect fit for our Yorba Linda branch. I am confident that his experience and background will be a tremendous advantage to our agents in our Yorba Linda marketplace!” Top Producer Experience As a native of Orange County, Bayraktar applies his impressive local market knowledge to his practice – which has earned him numerous top-producer awards and has ensured his successful completion of more than 100 real estate transactions. After spending the past two and a half years focusing on Luxury Estate Sales with the McMonigle Group, Bayraktar now brings his unwavering commitment to client service and proven sales talents to Prudential California Realty. Coaching & Training Agents for Success Erol is equally thrilled to work with Prudential California Realty and the Sales Associates in the Yorba Linda office, who have already been recognized as the top ranking real estate office for the area for all of 2009. “I look forward to taking the sales associates and the office production to an even higher level. It is my goal for our customers to continue to be extremely satisfied with the services we provide through our professionalism, market knowledge, personal attention, and complete family of services experience. I have always wanted to be in a leadership position where I can help others enjoy the same success that I have been fortunate to enjoy!” Availability 24/7 Agents in the Yorba Linda Office benefit from a manager who is available 24/7 to assist with any situation. Erol provides back up for his agents with various situations in which they need advice or support. A Passion for Excellence in Business Development, Technology and Marketing Erol works constantly with his agents to develop marketing materials that differentiate themselves in the marketplace and generate income-producing leads.

Posted on March 25, 2011, in Uncategorized. Bookmark the permalink. Leave a comment.

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