Lux-sign is the Luxembourg’s e-signature platform tailored to the real estate sector that was launched in mid 2022 from a fruitful collaboration between kodehyve, Chambre Immobilière and LuxTrust, powered by Amazon Web Services.
The company
Founded in 2004, the Luxembourg-city based real estate agency NEW IMMO is a leading agency managing a portfolio of properties across the country. They specialise in sales on plan for future completion, ancient properties sales as well as property leasing. They are leaders in property leasing and in the top 3 for property sales among the country.
They are a tech-savvy team of 20 persons with a dozen of real estate agents always keen on adopting new technologies if it could benefit all their stakeholders. NEW IMMO’s team uses the e-signature across all their activities for diverse purposes, such as the signature of property sale contracts or rental agreements, it is even used by the leadership for official internal documents. They are one of the first and the most consistent users of lux-sign. “We truly believe that e-signature has become a standard in the industry and that every professional will have to adopt it at some point.”
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The challenge
NEW IMMO’s agents were spending a lot of time on the road to meet clients and to handle the administrative side of the business such as signing contracts. Taking care of formalities was very time-consuming and inefficient for the realtors, without even mentioning the environmental impact of being in a car all day.
“When our agents are on the way, they are missing opportunities and cannot focus on their core activities.”
Besides, the turnaround time was high to get the transaction finalised and get all the documents gathered and properly signed.
Having identified all those paint points and as a technology-enthusiast team, they were one of the first real estate agencies in Luxembourg resorting to the electronic signature for their daily activities. This was a few years ago, and when the covid pandemic hit, they onboarded all their clients on an e-signature solution. They first opted for a generic e-signature solution that was not tailored to the real estate industry and did not perfectly fit their needs and workflows.
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The solution and benefits
Lux sign is enabling all NEW IMMO’s users (i.e. clients, partners and leadership) to manage and approve documentation online in a secure, transparent, and collaborative manner while also ensuring that all required legal information is provided.
Proximity, accuracy and service
It was an obvious choice for NEW IMMO to opt for lux-sign upon its launch as it was a solution dedicated to real estate. What is more, they have a strong willingness to work with local partners and they highly appreciate the closeness provided by a Luxembourgish solution such as lux-sign, as well as the customer service lying behind. “When the made in Luxembourg solution dedicated to real estate was launched, we were given the opportunity to adopt it and we feel that all the agencies in Luxembourg can benefit from lux-sign.”
Userfriendly and tailored to real estate
“We can see lux-sign is a sector-specific e-signature platform designed specifically for the real estate industry, taking into account our workflows. This saves us a lot of time and gives us more agility.” The users can upload their own contracts and templates and customise their signing flow to streamline their signatures processes. “We do not use the pre-approved templates embedded in the platform since we have already built our own templates, but we see a crucial benefit for smaller agencies to have access to these templates guaranteeing them legal compliance.”
Compliance & security
Because no one skimps on security when it comes to real estate transactions with substantial financial stakes, NEW IMMO were looking for a solution that ensures the highest standards of security and protection for both parties. Even if they never had any troubles, they would rather benefit from the strongest protection for themselves and their clients.
E-signature solutions are not always clear on their legal compliance with existing regulations. Therefore, one of the main reasons NEW IMMO decided to opt for lux-sign is the eIDAS compliance and the multi-layered security provided by the platform through holistic audit trails - guaranteeing the traceability of all changes made and steps taken when managing documentation.
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The outcome
NEW IMMO now signs most of their agreements via lux-sign. The team and their clients’ have smoothly onboarded the platform and they have signed more than 100 agreements within the first two months of usage.
Customer satisfaction
For most clients, the digital solution was welcomed with open arms. They are delighted with the experience provided by the electronic signature, they can now sign their documents from anywhere they want and do not have to travel.
For elderly people who are sometimes uncomfortable with technology, NEW IMMO’s team is committed to supporting them in adopting those new solutions. "Last week, my colleague went to visit one of our clients in her 90s, she taught her how to use lux-sign, they had a good time together and now she is able to use the platform independently. "
Furthermore, the high security and compliance standards provided by lux-sign reassure the clients, as they know they are protected from signing unsound agreements.
Offering a delightful customer experience is a priority for NEW IMMO, as it is a guarantee of quality and ensures customer satisfaction and loyalty. “NEW IMMO strives to be the market leader on property leasing and sales by leveraging the latest technology to offer the smoothest customer experience, so adopting such a solution was aligned with our long-run vision.”
Time saved & efficiency gains and lower environmental impact
Using lux-sign not only saves crucial time to the realtor team but it has also considerably reduced the turnaround time of getting a document signed.
This time saved allows the team to focus on their core business, making them more efficient and profitable. Beyond improving profitability, it contributes to making their business more sustainable by reducing their emissions and paper consumption.
