ASX-listed McGrath Estate Agents is among a growing number of real estate agencies using a new technology that simplifies and modernises the processing of residential tenancy agreements.
The new platform is called FLK IT OVER and it enables residential tenancy agreements to be signed on the phone.
Founder Andrew Colagiuri said that the platform has taken off smartly.
“Since its launch earlier this year, FLK IT OVER has been used to sign 5,500 property leases, with over 400 property managers now using the technology,” the founder said.
“FLK IT OVER is a digital platform enabling tenants to sign leases via their smartphone. The agent sends tenants a link via SMS then FLK IT OVER takes the tenant through the lease conditions, requiring tenant approval at various stages and a signature at the end on the screen of their phone.”
He said that the platform is Google-compatible.
“This technology, first available in NSW, has just launched in Queensland and is now compatible with Google Home, so tenants can ask Google when their lease ends, when rent is due and who the emergency plumber is without getting off the couch.
“You can also let Google know you want to talk to your property manager and an email will be sent requesting them to call. Gone are the frustrating days of the tenant having to chase their agent.”
Mr Colagiuri said that the smart tech has modernised the process.
“It’s all about using technology to enhance and streamline communication between real estate agents, tenants and landlords, something which hasn’t happened in decades.
“It’s even helping the environment as the process is paperless, so no need to use 50 A4 sheets of paper that’s normally needed for each lease.
“So far, FLK IT OVER has saved 35 trees (275,000 sheets of paper), reducing costs for agents, and freed up their time to concentrate on other work instead of chasing lease signatures.”
Mr Colagiuri said that FLK IT OVER was recently awarded The AMY Award for Utility - Product, ahead of Qantas, Lendi, UNICEF and Alexa.
Head of property management at McGrath Rob Fearnley said that his company is embracing the innovative technology.
“McGrath strives to be at the forefront of emerging technologies in our industry and we are extremely excited to partner with FLK IT OVER.
“Their technology offers the perfect combination of simplicity and innovation for us to ensure we offer our tenants an amazing experience and helps enhance our customer service offering.”