Real estate auction platform Gavl has launched new features on its app giving real estate agents the ability for their buyers and vendors to sign contracts electronically and complete deposit transfers. From watching and bidding on the auction, to completing the transaction elements of a property purchase, Gavl is the first app of its kind in Australia and NZ to be the one stop digital solution for auction real estate sales.
Gavl (gavl.com) is the world’s leading real estate platform for auction livestreaming and bidding technology. Since its launch in November 2016, it has streamed more than 10,000 auctions and achieved 6 million auction views from 52 countries, allowing buyers from all over the world to bid and buy at auction. Now, Gavl has extended its offerings to be a transaction app dedicated to the real estate industry.
Gavl uses a trusted and convenient third-party software integration that verifies over one million identities globally every month, to deliver a compliant method for customer onboarding and verifying identities. This is by integrating comprehensive global data sources, fraud detection and biometric verification.
Once a potential buyer is registered, ID verified and approved by an agent they are able to bid on the respective auction. Should they win the auction, Gavl can then facilitate electronic contract signing and deposit transfer, without a piece of paper or cheque in sight.
For the signing of contracts, Gavl utilises Docusign to assist agencies in in distributing the required legal sale documents for electronic signature. Relevant parties and remote buyers and vendors can benefit from the flexibility and efficiency in completing documentation remotely.
Following a contract being signed and the sale being finalised, agents will no longer need to rely on a cheque or a bank transfer to be made, which are at risk of deposit fraud scams or customer chargebacks, as Gavl allows them to collect a deposit from a buyer directly into their trust account through another third-party integration – used by the likes of Jetstar and Sportsbet. Both parties are provided an immediate receipt of the deposit transfer.
Co-founder of Gavl, Joel Smith, says: “The additional tools that Gavl provides on the app will ensure buyers and agents experience a smooth and convenient process. Having every step of the sales transaction done digitally from beginning to end, makes it accessible for potential buyers in any location. By including these new features, Gavl has become the one-stop shop to complete auction transactions.
“We’ve partnered with absolute leaders in their respective industries to allow us to offer secure, legal and simplified digital solutions which not only solve the problem of a vendor or buyer not being there in person to complete an auction sale, but provide a more efficient and secure process in general. We understand how much is done through smartphone apps these days, so we’ve made the entire auction transaction process completable on your phone.”
To watch the full journey to auction purchase, completely via Gavl, click here.