How to Move Your Entire Real Estate Business Into the Cloud

Tips and Tools for Organizing Your Real Estate Files

If you’re still relying on physical documents and other files to run your real estate business, it’s time to usher things into the 21st century. And thanks to cloud computing and storage, it’s easier than ever before.

The What and Why of the Cloud (for Real Estate Professionals)

In the most basic sense, cloud storage refers to online “space” where data can be stored.

“This online space resides across multiple remote servers housed inside massive data centers, built on virtualization technology, which means that storage space spans across different servers and possibly even multiple locations,” Cloudwards.net explains.

But the beauty of cloud storage, from a user’s perspective, is that everything can be accessed in a singular location – regardless of location or device. In addition to perks like simple usability and universal accessibility, the cloud offers real estate professionals advantages like.

• Enhanced security. When you’re reliant on physical paper in a filing cabinet, there’s always the risk that a fire, natural disaster, or theft could compromise your business. And even when files are stored on a device – such as a laptop – you run the risk of losing data if the device crashes or is stolen. With the cloud, your data is served across redundant servers. This means you never have to worry about your data being lost (even if one data center collapses).
• Low cost. Cloud storage is cost-effective in the sense that it eliminates the need for expensive hard drives, backups, printers, ink, and filing systems. Just pay a small fee for a good cloud storage solution and you’re all set.
• Synchronization. With cloud storage, it doesn’t matter where you are or what device you have – you’re able to access all of your files 24/7/365. You could be on your smartphone while showing a property or on your spouse’s laptop halfway around the globe and you’ll still have access to all of your files.

4 Tips for Moving Your Real Estate Biz to the Cloud

Not sure where to begin with transitioning your real estate business into the cloud? Here are some helpful suggestions for getting started:

1. Find a Cloud Storage Solution

The first step is to find a good cloud storage solution that works for you and your needs. With plenty of options to choose from, you’ll have to consider which factors are most important to you.

Typically, real estate professionals think about pricing, user experience, proof, and security.

2. Develop an Organization System

On its own, a cloud storage solution will keep your files safe. It will not, however, automatically organize files for you. (At least not well.) It’s up to you to figure out what sort of organization system you want to use and then implement it into your cloud environment.

For example, let’s say you’re a real estate investor with rental properties. Your organization system might consist of one master folder for each property.

Then, within this folder, you have subfolders for lease agreements, applications, contracts, loan documents, and accounting statements. Then any time there’s a new file, you just slip it into the appropriate subfolder.

3. Use Electronic Signatures

If you’re moving to the cloud, you might as well go paperless. Assuming you operate in a jurisdiction that does not require wet signatures, the easiest way to do this is by switching over to electronic signatures.

When combined with cloud storage, this allows you to keep 100 percent of your documentation digital and streamlined. This means less emailing, faxing, scanning, copying, and printing.

4. Download Apps on All Devices

Once you have your system set up, it’s time to ensure you have around-the-clock accessibility. The best piece of advice is to download your cloud solution app onto all devices (including your computers, tablets, and smartphones).

It’s also a good idea to memorize your ID and password so that you’re able to log in even if you aren’t on one of your own devices. (Just make sure you have a secure connection!)

Get Your Head in the Cloud

Real estate professionals who don’t transition to the cloud over the next 12 to 18 months will face a distinct disadvantage – when compared to peers who have made the move. Now’s the time to recognize the need and make the change. It’s not nearly as difficult as you might think, and the benefits are clear.

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