August 18, 2023

How innovative technology is supporting faster and safer property transactions

One of the most rewarding milestones people can experience is buying their own home. Whilst this is an exciting time, it can often be overwhelming with logistics throughout the transaction process. With documents to be signed, funds to be transferred and communicating with multiple stakeholders, we explore how innovative technology is supporting faster and more efficient property sales.

Digitally connecting a property sale

Professionals in the property industry now have access to advanced technology that supports collaboration and transparency throughout a transaction. Securexchange is a digital solution that has transformed the way stakeholders involved in the sale of a property come together in one secure workspace. The platform is highly efficient and connects key people that are usually detached, so sales can be completed with greater visibility and quicker than ever before. Securexchange is a simple tool that can be accessed on the go, supporting an enhanced and user-friendly experience for all involved, but specifically with clients in mind.

Making a property transaction more efficient for real estate agents

Securexchange has many benefits for agents, making the sales transaction a more seamless experience. All real estate agents using the platform can:

Create a workspace in Securexchange.
Request a Contract of Sale from a lawyer or conveyancer to commence a transaction.
Invite the accepted property buyer into the platform and share the Contract of Sale. Purchasers can then share this with their legal representative for review.
Share trust account details for deposits and additional documents, which may be required.
Send documents for signing, such as the Contract of Sale.
Exchange the Contract of Sale once all parties have signed and it is ready to be dated and exchanged. Agents can also send a copy to the property seller’s legal representative to date and exchange.

Earlier this year, an upgraded version of Securexchange launched, initially in New South Wales with other states to follow. In addition to the platform’s standard features, New South Wales real estate agents can:

Request a Contract of Sale as soon as the agency agreement is signed for a property to go on the market, which is slightly earlier in the process than the original platform.
Invite potential buyers into the platform to make an offer on the property. Agents have full visibility of all offers made through Securexchange.

At this stage, potential purchasers can also invite their legal representative into the workspace to review the Contract of Sale, which has already been prepared. Agents can review all offers that have been made and can see whether an interested buyer has shared the contract with their legal representative. This supports the assessment of the best offer and most serious buyer to put forward to the seller, simply by a click of a button.

Making a property transaction more efficient for legal representatives

Whether you’re a lawyer or conveyancer representing the buyer or seller of a property, Securexchange makes the sales transaction process more efficient for legal representatives.

In Securexchange, the legal representatives of a property seller can:

Create a Contract of Sale and share this with the real estate agent.
Send necessary documents for signing.
Exchange the Contract of Sale once all parties have signed and it’s ready to be exchanged.

Legal representatives of the property purchaser can:

Review the Contract of Sale on behalf of the purchaser.
Request bank account details for outgoing funds.

A positive client experience is priority, therefore it’s ideal to consider using modern technology so this exciting milestone can be completed in a simple, more efficient and seamless way. In addition, Securexchange also provides premium protection from cybercrime and guarantees fund transfers, so all parties have peace of mind throughout a property transaction when using the platform.

Protect yourself and your clients with Securexchange

Securexchange is powered by InfoTrack, a land registry approved information broker.

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