With the rise of fraudulent documentation and other concerning practices, the property industry is vulnerable to fraud and scams. Whether you need to verify the identity of your sellers, landlords, or tenants, there is no question that Australian real estate professionals need a secure and compliant method in order to reduce risk, prevent fraud, and streamline their operations. Leading agents are finding that using a digital VOI platform like Scantek not only enhances their security measures but also saves them valuable time and money. 

So, whether you’re a sales representative, a property manager, or the licensee of your business, let’s look at five key ways Scantek’s digital VOI solution is helping real estate agents just like you to meet their compliance requirements and improve efficiency.

1. Reduced Paperwork and Manual Processing

Traditional methods of identifying the parties in a real estate transaction vary greatly. Perhaps in your business, you view your client’s ID and then make a note in your file to confirm it’s been done. Or maybe you’re satisfied if you receive a text message with a blurry document to hold on file. Whatever the process you follow, there is no doubt that there are some administrative burdens, as well as a significant risk that your clients are providing false, fraudulent or otherwise non-compliant documents. 

Every week, we speak to real estate professionals still unwittingly relying on unsafe and unprofessional methods for receiving sensitive documents, such as email or SMS. These channels are not secure and leave sensitive information vulnerable to interception or data breaches. Furthermore, simply sighting a document opens up the risk of accepting fake or fraudulent IDs, as there’s no way to verify the legitimacy of what’s being provided. 

With identity theft on the rise, consumers are becoming more aware of cyber-security risks and expect their professional partners to adopt more secure practices. By continuing to use outdated methods, not only are you putting your clients at risk, but you may also damage your reputation as a safe and trustworthy professional.

With Scantek’s digital VOI solution, the entire process is secure and streamlined. ID documents are captured digitally and securely through our platform, meaning they are never stored on your or your client’s device. Upon receipt, documents are accessed via our secure portal and not stored on your local device, reducing the risk of data breaches. 

For a property manager, this could be the difference between accepting a suitable tenant who will look after the property as their own compared to someone impersonating another party to use the property for illicit purposes.

For sales representatives, verifying a seller’s identity with a digital VOI system ensures that records are received securely and verified properly, protecting your business from reputational damage. 

Real estate licensees benefit from a reduced administrative load, allowing them to focus on more value-adding activities within the business.

2. Improved Security with Biometric Verification

Security is a paramount concern in today’s property industry landscape. The risks of identity fraud and document forgery are ongoing, particularly when dealing with property sales and lease agreements. We have heard of countless cases where sellers or prospective tenants have tried to provide false identity documents, potentially exposing agents to fraudulent activity that could have serious legal implications.

Scantek’s Digital VOI solution addresses these concerns with advanced biometric facial recognition. Our technology requires the person uploading the documents to capture a live selfie of themselves so that it can be compared to the images of the person on the ID documents. In addition, biometric checks include liveness detection, which prevents the use of static images or pre-recorded videos as fraudulent identities.

For property managers and sales reps, biometric verification ensures that landlords and sellers are legitimate, reducing the risk of false ownership claims, and for prospective tenants, it ensures their identity is genuine and not linked to prior rental fraud or damage. This significantly reduces the risk of leasing properties to individuals with fraudulent histories or persons with illegal intentions.

From a licensee’s perspective, having this level of security in place means that every transaction is completed with confidence, knowing that compliance regulations have been met and the chances of identity fraud have been dramatically reduced, ultimately protecting your business and reputation.

3. 24/7 Availability

A digital VOI solution like Scantek offers round-the-clock availability. Traditional in-person verification methods require clients to visit the agent’s office during regular business hours, which can cause delays, especially if clients have busy schedules or, alternatively, have the agent meet them outside of business hours, often at their own inconvenience.

Scantek’s digital VOI solution allows sellers, owners and tenants to complete their verification from anywhere in the world at any time (day or night). This 24/7 availability means successful tenants can verify their identities outside of office hours, allowing property managers to move forward with lease agreements more efficiently. Similarly, sellers can complete their verification process without needing to schedule an appointment or risk their identity being stolen by emailing copies. This reduces friction for both the client and the agent.

For licensees, this flexibility increases operational efficiency. It reduces bottlenecks in the client onboarding process, meaning transactions can move forward more quickly, all while maintaining security & compliance.

4. Automatic Record-Keeping

For real estate professionals, staying compliant with their state’s government regulations is crucial. Typically, and depending on the jurisdiction they’re operating in, one of these requirements is identifying their clients. How this is done varies by state, but in any case, where people’s personal ID documents are concerned, there is always the risk of data loss or error when managing physical documents manually. 

Scantek’s digital VOI solution automates record-keeping. Our verifiable summary report is available to real estate professionals for auditing purposes, and all sensitive information is deleted from the platform after agents have had the opportunity to review it. This reduces the risk of non-compliance while also saving agents the time they would otherwise spend maintaining paper files.

For licensees, automatic record-keeping ensures that the business adheres to regulatory obligations, reducing risks related to compliance and protecting the business from potential penalties.

5. Enhanced Client Experience

Today’s consumers expect efficiency, convenience, and a seamless experience.  Scantek’s digital VOI solution offers just that. Clients can complete their identity verification from the comfort of their home, without needing to travel to an agent’s office. The platform is intuitive and user-friendly, guiding clients through the process step by step, which leads to greater satisfaction. Scantek’s team is readily available in the unlikely event that a seller, owner or tenant encounters technical difficulties completing their ID check.

For real estate agents, particularly those dealing with sellers, this streamlined approach enhances the client’s overall experience, making them more likely to recommend the agent’s services in the future. Property managers also benefit from this, as prospective tenants can complete their verification remotely, expediting the lease agreement process.

Consumers are understandably scared of identity theft, with the constant news reports about data breaches.  The power of being able to promote data privacy and security as a point of difference for one’s business also cannot be underestimated.  Licensees benefit from this increased client satisfaction, leading to repeat business and positive word-of-mouth. Happy clients also mean fewer complaints, ultimately reducing operational risks.

Enhance Your Real Estate Transactions with Scantek’s Digital Solution

As regulatory demands and security threats continue to rise, adopting a digital VOI solution is a necessity for all real estate businesses.  Scantek’s solution offers Australian real estate agents a host of benefits, from saving time and money to enhancing security and improving client satisfaction. It provides an efficient, secure, and client-friendly solution that meets the needs of sales representatives, property managers, and licensees alike.

Partnering with Scantek ensures you’re staying compliant, protecting your client’s sensitive data, and creating a smoother experience for everyone involved in your real estate transactions.

For more information on how Scantek’s digital VOI solution can benefit your business, contact us today to schedule a demo.

Already in 2024, we have seen numerous attempted property frauds across the country. One of the most recent in WA was used as a case study at the 2024 REIWA Innovate Conference. The Verification of Identity (VOI) process was pivotal in uncovering and preventing this fraud attempt and so many others.

It can be tempting to assume that the VOI process will be completed by someone else later, either the lender or the conveyancer. However, the dual-check system that operates across much of Australia in various forms is designed to significantly reduce the risk of property fraud. Given their close contact with vendors early in the sale process, real estate agents play a crucial role in this. 

Earlier this year, the Department of Mines, Industry Regulation and Safety (DMIRS) issued a bulletin to Western Australian real estate agents, reinforcing the necessity of rigorous ID checks, especially when the agents cannot meet the sellers in person. Trish Blake, Commissioner for Consumer Protection, further echoed this message at the 2024 REIWA Innovate conference.

At Scantek, we understand the significant regulatory obligations of real estate agents. So, to help ease the burden, we’re committed to providing simple, effective solutions to ensure compliance and reduce risk. Our advanced ID verification technology offers a straightforward way to meet your vendor ID obligations and protect both your business and your clients.

The Importance of Dual ID Checks

VOI obligations in the property sector all boil down to fraud prevention. But when one party assumes another will handle all necessary ID checks, they risk compromising this protective measure. The DMIRS bulletin linked above highlights the critical need for dual checks, where both real estate agents and conveyancers have a role to play in independently verifying the vendor’s identity. Without these identity checks, scammers (who are getting smarter every day) could well be successful in defrauding legitimate property owners.

Why Sighting ID Documents is No Longer Enough

The recently attempted fraud referred to in DMIRS’ bulletin serves as a stark reminder that simply sighting a vendor’s ID documents is not sufficient. Fake ID documents are becoming increasingly realistic, and without back-to-source validations, there is a significant risk that a fake ID may pass as legitimate. 

Acting Commissioner Tim Banfield emphasises that identity validation checks are a mandatory part of the sales process in WA. Failure to adhere to these checks can lead to prosecution and severe damage to an agent’s professional reputation. Similar requirements exist across the country. 

In fact, the WA Code of Conduct states that if agents or representatives have doubts about the authenticity of an ID document, they are required to verify the document with the issuing authority. In other words, confirming the document’s legitimacy using the Australian Document Verification Services (DVS), a process which is not possible to complete if you simply sight the document.

What You Can Do to Ensure Compliance & Security

Using Scantek’s ID verification technology is a simple and effective way to ensure compliance with industry standards and reduce the risk of fraud. Our industry-leading solution is designed to help real estate agents perform the required ID checks quickly, easily and securely. 

Here’s how Scantek can help:

1. Efficient Verification Process: Our user-friendly portal allows agents to initiate and complete ID verification quickly and accurately. Verify vendor’s identities without cumbersome paperwork, saving time and reducing administrative burden.
2. Advanced Security Features: Our technology utilises biometric and back-to-source DVS verifications to ensure the authenticity of ID documents and liveness checks (especially important when you cannot ID your vendor in person). 
3. Compliance with Regulatory Standards: Scantek’s digital ID solution is designed to meet the requirements set forth by regulatory bodies across Australia. By using our platform, real estate agents can ensure they are fully compliant with their relevant industry regulations.

Here are Some Practical Steps for Real Estate Agents

To align with best practices and regulatory requirements, it’s suggested that real estate agents adopt the following steps:

• Meet Sellers in Person: Whenever possible, meet the seller face-to-face to verify their identity. Scantek’s In-Person verification tool is perfect for these situations. If an in-person meeting is not feasible, arrange a virtual meeting or use an Australian Embassy Office if the seller is overseas.
• Ask Qualifying Questions: Pose questions that only the true owner would know about their property. This can include details about when and for how much they originally purchased the property, what local government area it is in, and how much the property rates are.
• Verify Documents: Ensure all documents are signed correctly and match any previous records. As mentioned, fake IDs are becoming increasingly realistic, so it’s critical that they’re validated by the issuing authority. 

Working Together to Safeguard Australian Property Ownership

Real estate agents play a critical role in preventing property fraud. Typically the first point of contact, they are uniquely positioned to build relationships with their vendors. By performing rigorous identity checks and leveraging technology like Scantek’s ID verification platform, agents can ensure compliance, enhance security, and protect their reputations and clients.

Here at Scantek, we’re available to support you every step of the way. Our technology simplifies the ID verification process, making it easier for you to meet regulatory requirements and reduce the risk of fraud. For more information on how Scantek can help your business, contact us today.