REINSW is often alerted to new products on the market that appear to make an agent’s job easier. However, many of these products often achieve the opposite.
Apps: friend or foe?
There are apps in the market today that allow agents to send residential tenancy agreements to be signed by the tenant and witness electronically.
However, Clause 5 of the Electronic Transactions Regulation 2017 (NSW) excludes electronic signatures for documents that require a signature to be witnessed.
“It is important that agents are aware of efficiencies and additional services they can deliver to their clients,” says Tim McKibbin, REINSW CEO.
“However, technology is moving faster than legislation, which means by using these apps, agents are in breach of legislation – often without even realising it.
“Importantly, Government has recently announced legislative reforms are on the way to enable witnessing of documents electronically. This is a giant step forward for the industry.”