Within the notary community, it's generally accepted that remote online notarization (“RON”) was always going to be the way of the future. With 23 states, including Kentucky, legalizing RON, the writing was on the wall.
Forward-thinking notaries (like the kind who belong to the Kentucky Notary Network 😉) have been preparing for its adoption for a long time now. One glance at a Google Trends search tells you all you need to know.
The Virus Gives Us No Choice But to Think Safety First
When COVID-19 hit in early March of this year, the acceptance and adoption of RON became greatly accelerated. Several states that had not previously enacted RON legislation issued emergency orders allowing its implementation. These measures went largely unnoticed by many, but were necessary to keep the economy from collapsing further than what it already has.
People still need to buy and sell houses, land and commercial property, but they were not able to sit down at the conference table in a crowded room to close a real estate transaction. Turns out, the answer was with us all along.
In today's society, there is no safer way to close a real estate transaction than with remote online notarization.
Banks and lenders, title companies and realtors all must come to the realization that our “new normal” has to consider the health and safety of their customers. Gone are the days of a handshake, a hug even if you live in a small town like I do. Finding ways to accommodate buyers, borrowers and sellers is not easy, but at the Kentucky Notary Network we like to solve problems instead of complain about them.
Remote Online Notarization is Convenient
Now that the safety box has been checked, let's see if RON makes sense in other ways. And guess what? RON is sounding more like the answer every day.
With a remote online notarization, the construction worker doesn't have to take off work to close a loan. Your truck driver can stay on the road. The parents with a busy schedule can sign early in the morning. The retired couple won't have to leave home to get a mortgage or reverse mortgage even. People enjoy closing from the comfort of their couch (see photo below)!
With one set of documents for signature, the process is more efficient and reliable as well. Trees everywhere are very grateful and loan signing agents with a disdain for fax-backs are equally thankful.
A RON Closing is Affordable, Maybe Even Less Expensive
The factor in the equation that makes remote online notarization a slam dunk of a decision is the cost. While many large platforms that hire notaries charge on a per notarization fee, that's far from the case with an independent notary like our members are.
We've done our homework and found a platform that lets us do our job and doesn't charge an arm and leg to do so. We're more than happy to pass that savings on to the banks and lenders so that in the end the consumer wins too. Once the “it's too expensive” objection has been removed, offering RON closings to your clients suddenly makes your company look smart, considerate and cost-conscious.
In business they say the proof is in the printout. For loan officers, the proof is in the loan estimate. Compare this sample loan estimate and our services to the one you're currently offering and call us after that light bulb comes on. 💡Loan Estimate Page 2
Safe, Convenient and Affordable is a Great Combination
Nobody expected the pandemic, but here we are. Companies that pivot and find ways to accommodate and serve their customers by considering health, busy schedules and their pocketbook are going to not only survive, but thrive. Thankfully, we were prepared for remote online notarization and because of that, we're here to help.
If you'd like more information on remote online notarization and how it can help you and your company, feel free to contact us at +1 (833) GOT-NOTARY. That's 833-468-6682 and our professional phone service will point you in the right direction.