Electronic agency agreements

The world is digital, and your agency agreement should be too. Thanks to an ingenious suite of state and federal legislation in Australia and New Zealand known as the Electronic Transactions Acts this is possible.

An electronic agency agreement makes pro-forma paper and handwriting obsolete as it enables property owners and real estate agents to transact online. Using Vendorable, vendors submit the key details of their property and advertise the availability of a real estate sales opportunity. Real estate agents then bid for that job with their key information such as commission and marketing costs. They can also include any compliance information they may be required to provide to the vendor (such as a list of recent sales in support of their appraisal or guides about agency agreements prescribed by legislation). The vendor then compares bids from agents and appoints. Upon appointment the vendor and agent have entered into the agency agreement. Vendorable makes this possible through its Agency Agreement Rules contained in its click-wrap Terms of Service.

The presentation of information in the digital medium makes comparing cost and service propositions simple. At Vendorable we passionately believe that this is the way forward when it comes to appointing real estate agents. And with the ability to instantaneously appoint once you’ve decided on your agent, Vendorable puts you a step ahead.

Harry Lehmann