As many of you know, effective 1 October, practitioners In Victoria must lodge certain conveyancing transactions using an Electronic Lodgement Network (ELN), unless they qualify for an exception.
A recent InfoTrack web poll of legal and conveyancing professionals in Australia revealed that although the majority plan to tackle the challenging transition to processing settlements in-house, 11% plan to use an agent to complete their settlements, 15% are too busy to deal with the changes that come with the mandate and 7% plan to stop doing conveyancing work altogether. What is your plan?
We are currently travelling around the country with CONNECT18 to speak with conveyancers who have confirmed that these new regulations and processes are generating increased pressure and risk. “There is a real call for help to deal with these changes which our clients feel have been thrust upon them,” says InfoTrack CEO, John Ahern.
As the market leader of searching and settlements services in Australia, we see InfoTrack’s role as championing your needs and supporting you through this transition to digitisation.
InfoTrack has a highly experienced network of settlement staff across Australia that serve over 7,000 clients and process an average of 200,000 settlements per year. This is why we have released SettleIT – a breakthrough settlement service that will take pressure off conveyancers who are struggling to come to grips with the new regulatory regime.
SettleIT combines the knowledge, expertise and service of our settlements team with our innovative technology to take some burden off your shoulders.
Our General Manager, Product and Innovation, Lee Bailie, says “We’ve created the SettleIT service to offer an accessible and affordable alternative in handling the settlement processing in-house. Conveyancers don’t need to change how they’re running their practice or register for an ELN, they simply provide us with their instructions and documents, and we determine whether it can be lodged manually or electronically. The conveyancer approves all critical steps along the way and receives real-time updates while we work in the background to process the settlements and ensure that everything is running smoothly on their behalf. As our clients would be used to pre-mandate.”
James Ryan of Speirs Ryan is one of the early adopters of SettleIT and has told us that it is essential to his business to keep in constant communication with his clients. By using SettleIT, Speirs Ryan have been able to reallocate some of their administration team that was focused on the process steps of settlements to spending more time assisting and updating clients through the conveyancing process. SettleIT has already enabled their business to focus on what their clients need most – professional advice.
SettleIT is immediately available to Victorian practitioners. If you need help with the transition to e-Settlements, please get in touch today at 03 8609 4750 (VIC) or 02 9099 7490 (NSW).
