Conveyancing – where is the value?

The conveyancing marketplace, like most industries, is make up a of a wide cross section of service levels.  From Cheap and not so cheerful through to High End Law firms the breadth of pricing reflects the different cost structures behind the respective firms.  Add to that a silent epidemic of undisclosed commission structures between referrers and conveyancers or practitioners and the customer is at at significant disadvantage in being able to make an informed decision.

Information asymmetry between the consumer public and the legal profession has for years been the basis of which services have been delivered. In the industry this is referred to as ‘smoke and mirrors’.

But with the uptick in online resources and a self help approach adopted by the consumer public it is our belief that customers want more than transparency, they want understanding. Especially in something has big as the purchase or sale of a home. We believe people make Good Decisions when they are given the information on which a rational and measured decision can be made. And so it is with conveyancing.

First and fore most at Think, We don’t perform rocket science. We do however bring significant experience and knowledge to the table that benefits the consumer.  Be it a rigor, that the process is well managed, a structure that the ensures compliance, a steady hand when the process is off track or compulsion – when the other side is misaligned with a favourable outcome for our client.  If we didn’t, it would only make sense for potential clients to do their own conveyancing (which, it doesn’t!  You can read more about that HERE).

What an individual conveyance needs is a structure, but where the value is in the handling of exceptions.   I often describe to outside stakeholders that conveyancing is like herding sheep, a continuous effort is required to direct an outcome with all parties moving in the same direction.   IT is as much art as it is science.  Ask anyone who has been through the process before and they will be familiar with the importance however of this being well executed, especially around the time of settlement.  Whilst at the time someone instructs a conveyancer they may not be thinking about settlement, this should be your guiding light.

Many haggle over the price of conveyancing services, but in the end, by retaining on overworked and under resourced practitioner settlements fall over and the COSTS of delay are expensive!  My Mum described this as false economies. Never has this been truer than when retaining the services of a Conveyancer.

So, if you are uncertain or unsure, start with this. You are looking for an ADVOCATE. Someone to represent your interests. Someone who cares enough about you in the transaction that they give the Contract review or preparation the veracity it deserves in order that you are properly protected. If a potential firm does not live up to this HIGH expectation, then keep looking – or you may as well do it yourself. Why? Because there is little or no value being brought to the table by a processor, that brings neither thought nor concern to the transaction.

A few good guiding principles to remember when you next need to engage the services of a conveyancer:

1. If they were difficult to get a hold of when you made the initial inquiry… run! It will only get worse and your needs will only get greater.
2. If they don’t take the time to explain the process to you at the outset and you remain with the question – WHY DO I EVEN NEED A CONVEYANCER? This is not the right firm for you. You must know the value they bring.
3. If they are SUPER cheap, be careful of the sting in the tail. If its too good to be true it probably is. It is important that you take advice only from someone who is insured and makes full and transparent disclosure to you at the beginning.
4. Ask, if the referring agent is getting a commission. If they didn’t tell you upfront…. You know you are not their highest priority. This wont do.
5. Consider VALUE or money over Cheapness. There is not need to pay excessive amounts of money, but with the right advocate there is a way to ensure what money you do spend is Well spent and you are well protected.

Read more at Think Conveyancing.

 What you need to Know about the writer.

Christopher (as his Mother still calls him!) is an avid reader and online contributor, with an inexplicable affection for Coca-Cola, real estate, Japanese micro housing, design, food, coffee and Pinterest.  He wishes he understood more about twitter, was as fit as he ‘thinks he is’ and spoke more languages.  All things he is trying to change.

Holding degrees in Accounting, Law and Marketing Christopher tries not to take himself or his subject matter too seriously. He is a leading spokesman and consumer advocate of the Conveyancing Industry in the media and online, having founded ThinkConveyancing.com.au and grown it to be the No.1 Conveyancing Firm in Australia according to independent sources.
BRISBANE | SYDNEY | MELBOURNE | PERTH
Contact Details
Ph: 1300 932 738
info@thinkconveyancing.com.au