The Real Estate Institute of South Australia (REISA) embarked on an aggressive adoption of electronic documentation many years ago which is paying off in dividends now.
Three years ago the REISA stopped printing or selling its documentation in hard copy and is now leading the way with its adoption of the REI Forms Live platform’s Docusign process. REI Forms Live platform – that is used widely around Australia – has been linked to Docusign to make the process seamless. South Australia is the first State to adopt it and the industry is loving it – along with their property clients.
“It remained important that REISA walk the talk and not send mixed messages to its membership by continuing to sell hard copies of agreements in South Australia,” CEO Greg Troughton acknowledged.
In South Australia digital signatures are accepted for both sales and management agreements and recently REISA have seen over 30 members using DocuSign to deliver and execute agreements online and get them returned in a secure fashion.
“This is not the big “D” disruption that gets bandied about too much in the real estate world – what it really means is delivering services in a new way that an old customer now wants.
“Our members can now send an agreement to an investor half way around the world and know it is safe and secure. Members love the convenience and we can already see the word of mouth spreading throughout the SA real estate profession” Mr Troughton said.
According to the REISA, the Docusign process is the equivalent of having an Armaguard vehicle turn up to the agency, have that Armaguard courier deliver the documentation, obtain a signature and return it with confidence that what was sent is received with confidence.
“Whilst it remains critical that real estate agents continue to deliver face to face service to their clientele, where it is not possible they can rely on sending documentation with confidence” Mr Troughton said.
South Australia may seem an unlikely leader in real estate innovation but it’s good to remember that the universally recognised best in practice Torrens Title system was born there.