REIA President Adrian Kelly believes the permanency of electronic transactions outlined in the federal government's JobMaker Digital Business Plan should lead to positive outcomes in property and other areas.

“The amendments required, whilst simple, will improve efficiency and productivity in transactions within the property industry,” he said.

“As one of many stakeholders promoting the acceleration of digital technologies that are contactless and more efficient, we believe virtual meetings and electronic documentation will also make it easier to do business and transact property which all real estate stakeholders.

"Documents will be able to be validly executed without having to physically print and sign the same hard copy."

The REIA has also backed the Australian Banking Association’s calls for jurisdictions to follow suite to join the digital economy.

“State and territory laws should be consistent and enable consumers to conduct a range of property related activities including mortgages,” Mr Kelly said. 

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