A digital signature software platform already popular in the US is now available to real estate agents in Australia, with its local distributor confident it will cut the amount of time spent by industry professionals on administrative tasks.
Earlier this week, RP Data announced it had signed an exclusive agreement to distribute DocuSign technology to mortgage and real estate professionals in Australia and New Zealand.
“Together, RP Data and DocuSign are helping customers achieve the benefits of the fully digital business,” said Graham Mirabito, CEO of RP Data.
Agents can use the technology for, among other things, authorities to act, rental agreements and sales contracts. Signatures are made “on the glass”, he said, with the signed contracts - which can be most types of documents, including PDFs - returned via email.
Documents can’t be submitted unless all the required fields have been filled in, virtually eliminating the need for workovers, Mr Mirabito said. Agents can also monitor which clauses their customers have signed and when.
Mr Mirabito added that another benefit of DocuSign technology was that it could be used by mortgage brokers and conveyancers.
“This will allow us to extend the link between real estate agents and the mortgage industry,” he said, something he felt was currently lacking.
Earlier this month, NSW announced plans to allow the electronic transaction and settlement of land, further entrenching the move towards paperless transactions.
Mr Mirabito told Real Estate Business that a global standard for electronic signatures seems to be emerging, adding that one reason RP Data chose to partner with DocuSign was because the company operates in more than 180 countries.
“DocuSign empowers real estate professionals to streamline transactions, stay organised and productive while on the go,” Mr Mirabito said, adding that he had used the technology himself when purchasing a property in the US, where the technology is endorsed by the National Association of Realtors (NAR).
“Ultimately this will create a better experience for homebuyers, sellers, investors and people renting," he said.
“As the trusted global standard for eSignature, DocuSign is a tremendous opportunity for our customers. Worldwide, electronic signature capabilities have become a ‘must-have’ for businesses who want to remain competitive, and DocuSign’s secure, cloud-based solution works exceptionally well among our offerings.”
Mr Mirabito said RP Data was speaking with a number of real estate groups from next week, although the company had engaged stakeholders within the industry before finalising the deal with DocuSign.