How Virtual Transaction Rooms Can Benefit Your Real Estate Business

Virtual transaction rooms are online databases that display sensitive information during high-stakes deals. These systems are typically used often in mergers and acquisitions, but they can also be used to assist due diligence procedures and legal conditions, financial audits and quit or real-estate planning processes.

When used properly will allow all parties to review documents, exchange information and gain access to them during a transaction without the need to meet in person. While there are many different software tools and programs that allow businesses to carry out a transaction such as a virtual room (VDR) is one of the best options for storing and sharing files with multiple users.

While VDRs are found in a variety of industries, they’re particularly useful for companies involved in high-risk processes which require sharing of documents. Investment banking procedures such as IPOs, capital raising and M&A require massive information sharing and the appropriate virtual transaction space can keep all stakeholders in sync and productive, while not exposing sensitive information.

Contrary to traditional transaction rooms VDRs offer expanded options for sharing and editing file formats. While traditional transaction rooms only work with PDFs and proprietary formats VDRs can be easily connected to productivity apps for business like Google Docs. This allows employees to access their preferred applications within the secure virtual workspace.

For real estate agents, this means they can populate their regular real estate forms with relevant information stored in the VDR. This reduces the number of steps they’ll need to complete and ensures everyone is on the same page throughout the transaction. Real estate professionals and deal managers can invite buyers and sellers to sign documents in VDRs on their own. VDR using any device, provided they pair up with a fantastic eSignature solution that is pre-integrated into the platform.