All real estate transactions will soon be completed electronically

By Michael Mata | 20 Dec 2016
iBuyNew, an online property marketplace, has joined forces with national conveyancing service lawlab to help progress technology it has developed. This new technology will allow homebuyers to secure property online without engaging in face-to-face meetings.

Mark Mendel, iBuyNew’s founder and chief executive officer, said the day when all real estate transactions would be completed electronically was fast approaching, with iBuyNew already processing its first digital contracts for off-the-plan property.   

“It’s only a matter of time before all transactions will take place electronically and people will be securing their preferred property online as they do now with most other goods and services,” he said.  

iBuyNew received a tremendous response to its recently launched online reservations system, which allows homebuyers to reserve their chosen property 24/7 via the Internet.

“We have partnered with lawlab for our online reservation system and are using their collaboration platform Rundl for electronic conveyancing,” Mendel said. “Rundl enables us to make the exchange process more seamless and keep communication streams open for all parties in the transaction.”
“Buyers no longer have to wait for a real estate office to be open to put down a deposit on a new property,” Mendel said.

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