How Virtual Transaction Rooms Can Benefit Your Real Estate Business

Virtual transaction rooms are online databases designed to display sensitive details during high-risk business transactions. These systems are typically used often in mergers and acquisitions however they can be used to assist due diligence procedures and legal conditions, financial audits and quit or real estate planning processes.

If properly used when they are used correctly, these software platforms allow all parties to access, review and exchange documents during the course of a deal without the need to meet face-to-face. There are a myriad of software tools and programs that let companies complete transactions, a virtual data room (VDR) is one of the best options for storing and sharing files with many users.

While VDRs are found in a variety of industries, they’re most useful for companies going through high-risk procedures that require document sharing. Investment banking processes like IPOs, M&A and capital raising require a massive amount of information sharing. A suitable virtual transaction space can keep all stakeholders active and connected, without exposing sensitive information.

Unlike traditional transaction rooms, VDRs board portals offer greater ability to share and edit formats of files. While the majority of transaction rooms use PDFs or a proprietary format for files VDRs are able to easily integrate with business productivity apps like Google Docs, making it easy for employees to access their preferred apps within the secure virtual workspace.

This feature allows real estate agents to update their real estate forms with information from the VDR. This can reduce the number of steps they have to complete and keeps everyone on track throughout the transaction. When combined with a great e-signature solution pre-integrated to the platform, like DocuSign, real estate professionals and deal coordinators can effortlessly invite buyers or sellers to sign and review documents in the VDR from any device.