The announcement this week of the Federal Government’s JobMaker Digital Business Plan has been welcomed by REIA President Adrian Kelly, who believes the small amendments, including the formalisation of electronic documents in real estate transactions, will lead to a simplification of the industry.
“The amendments required, whilst simple, will improve efficiency and productivity in transactions within the property industry,” he said.
“As one of many stakeholders promoting the acceleration of digital technologies that are contactless and more efficient, we believe virtual meetings and electronic documentation will also make it easier to do business and transact property with all real estate stakeholders.
“Documents will be able to be validly executed without having to physically print and sign the same hard copy.”
REIA have also called for states and territories to follow suit.
“State and territory laws should be consistent and enable consumers to conduct a range of property related activities including mortgages,” Mr Kelly concluded.
