As the COVID-19 crisis continues to shut domestic and international borders, what happens when you are selling a property to buyers outside of your state or country? Under current conditions, it’s highly likely they can’t meet you in person to view the property or sign paperwork.
You may choose to complete matters like this digitally with virtual house viewings, remote verification of identity and electronically signed documentation. However, what solutions can you use to get the job done? Here are some solutions:
Identifying your clients from a distance
When beginning a property matter, you will need to verify the identity of your client. But when borders are closed and you can’t meet them in person, remote, digital verification is the way to go. InfoTrack offers WebVOI which provides the Australian legal industry with secure video identity verification giving you confidence your clients are who they say they are. WebVOI securely emulates face to face identify checks and during COVID-19, usage of WebVOI grew 260% as lawyers and conveyancers could not complete identity verification checks face to face.
John Ahern, CEO of InfoTrack, said “The original purpose of remote WebVOI was to create workflow efficiencies for firms and help them keep their matters moving forward when clients were on holidays or couldn’t make a face to face meeting . But now, more than ever before; lawyers, conveyancers and banking and finance professionals are relying on remote WebVOI so they can stay safe and maintain business as usual.”
Amanda Spencer from Bridge Legal, an InfoTrack client, said “Our clients are time poor and many can’t readily get to a post office, given the current environment. Using WebVOI was a relief that we could get through the verification of identity process quickly and efficiently, whilst putting our clients at ease.”
Contactless, secure property exchange
One leading innovation that is keeping property funds and documents secure is Securexchange. Securexchange is a complimentary service designed to allow lawyers, conveyancers and real estate agents to securely operate their business from anywhere in the country. It safeguards any important documents relating to a property transaction and the funds transferred.
While you may be tempted to communicate important documents and account details via email and SMS, unsecured methods of communication such as this unfortunately leave transactions vulnerable to deposit theft. The property industry has become a huge target for hackers who are intercepting communications and impersonating agents to redirect deposit funds into their own accounts.
Securexchange users Sargeants Geelong and Bellarine Conveyancing said, “We realised that with this increase in fraud cases, we needed to do something more to protect our clients and keep their mind at ease. Once we implemented Securexchange, many clients expressed how appreciative they were that we took the initiative to keep their property funds safe and secure, whilst helping them feel confident to transfer large amounts of money. Securexchange has impacted our business in three ways:
- It enhanced our reputation
- It has become a selling point to new clients
- It gives both sides peace of mind that transferred funds are safe and secure.”
Real Estate Agent Michael Garside of Harcourts Dapto in NSW said, “We have found Securexchange to be excellent. No more worries of getting bank details correct and it has also made the process easy whether we are sharing our bank details or obtaining clients details. The setup is easy and customer service brilliant.”
Sign documents without needing to meet in person
The newest feature of Securexchange allows electronic signing of important documents in a secure environment. This means you can be sure your documents are only being viewed and signed by the relevant parties. During COVID-19, electronic signatures via InfoTrack have increased 130%.
Signed documents are time and date stamped with information about what device documents are viewed on. This gives you confidence that it is your client’s who are actually signing.
With the increase in fraud cases, property lawyers and conveyancers need to protect their clients and give them confidence to complete and transfer private documents and large amounts of money.
Until October 30, 2020, Securexchange are offering their clients who complete an Electronic Contract of Sale via Securexchange, the opportunity to go in the draw to win a 50 inch TCL Smart TV and Google Home. The more electronic Contracts of Sale completed in Securexchange, the more entries in the draw you receive.
Maintaining social distance but still doing your best to continue business as usual is a key challenge for lawyers and conveyancers during COVID-19. Your own and your client’s safety is of the utmost importance. Smart technology solutions are available to support you. InfoTrack’s suite of cloud-based products have been built for lawyers and conveyancers to use anywhere, anytime ensuring their firms remain productive and efficient. To find out how you can keep your matters moving forward, get started with InfoTrack today.