The hangover effect of “The Great Resignation” on the conveyancing industry

In late 2021, Australia started to experience effects of what was coined “The Great Resignation”.

A US phenomenon which saw, in August 2021 alone, 4.3 million people in the US leave their jobs. This included workers from frontline jobs to senior executives. Australia caught onto the trend, and in November 2021, the Australian Bureau of Statistics reported that almost 10 per cent of the Australian workforce quit their jobs in 2021 – 1.3 million people. Within the legal industry, Real Estate Business reported on an Australian conveyancer shortage, and record levels of demand for their service.

Pressures on conveyancers

Many conveyancers draw satisfaction from helping people achieve their dream of owning their own home. However, the heavy administrative burden of the job out-weighs the benefits. When weighed down with tedious and monotonous tasks, it doesn’t make use of the inherent skills of a passionate conveyancer, such as good problem solving, communication skills, the ability to multi-task and a customer-orientated focus. When paired with a tumultuous few years in the housing market, unpredictable trends, changes in government and interest rates, it’s no surprise that the industry is suffering, resource-wise.

Daniel Petrucci, General Manager of SettleIT has seen first-hand the mounting pressure on conveyancers over the last few years. “There has been enormous change in the industry, particularly as electronic conveyancing takes centre stage. Between changing mandates and heightened client expectations, it’s important that conveyancers feel supported and empowered. In order to maintain workers within the industry, workplaces need to pivot and ease some of the burden, to retain staff and attract new talent.”

Easing the burden

To allow solicitors and conveyancers the opportunity to focus on more of what they love, InfoTrack developed SettleIT, to ease the mounting burden of administrative tasks associated with lodgments and settlements.

SettleIT provides a full end-to-end post-exchange conveyancing service, which allows professionals to maintain control of their client relationships. Whether SettleIT is used as part of a firm’s standard process or simply when cover is needed, the full settlement and lodgment process is handled by an experienced and dedicated, Australian-based legal and conveyancing team.

Despite conveyancers and solicitors being more valuable than ever, they are not more available than ever. It’s important to protect and nurture the core of the role, which is to advise and guide clients through the process of buying or selling a property.