InfoTrack, Author at SettleIT

Top benefits of the sharing economy for your business

May 2, 2019

Top benefits of the sharing economy for your business A sharing economy is an economic system in which assets or services are shared efficiently. In May 2019, Forbes quoted a study by PWC predicting that the sharing economy is projected to grow from $15 billion in 2014 to $335 billion in 2025. Common recent examples of Airbnb, Uber, and Netflix show that the sharing economy offers the opportunity to mix up established industries and has the advantage of opening new revenue streams and reaching customers who might not have been interested in the company’s products or services beforehand.Sharing isn’t quite a new way of life but technology and ease of connections through the digital world have boosted accessibility and convenience offering the ability to seek things out and obtain them easily. In many ways, sharing is something we’ve always done, you scratch my back, I’ll scratch yours. But now, with the sharing economy in the digital age, it may be the perfect opportunity to foster the growth of your business. What are the top benefits of the sharing economy for your business? 1. Get professional support on demand. Need It Today, but not tomorrow? General practitioners probably don’t need a full-time

eConveyancing terms and acronyms

April 30, 2019

eConveyancing terms and acronyms Industry terms and acronyms eSettlements Electronic settlements refers to conveyancing transactions settled via a platform electronically. eConveyancing Electronic conveyancing refers to the end to end workflow in property exchange. CAF Client Authorisation Form enables a practitioner to act on behalf of a client by signing and approving documentation. VOI Verification of Identity is an identification process that supports the e-Conveyancing compliance framework. ARNECC Australian Registrars’ National Electronic Conveyancing Council, a body comprised of the Registrars from all Australian States and Territories. Digital Signature Encrypted electronic data intended for the exclusive use of a particular person as a means of identifying that person as the sender of an electronic communication or the signer of a document. ELNO Electronic lodgement network operator, the party operating the electronic platform. The first ELNO in Australia is PEXA. MOR Model Operating Requirements, the rules governing the relationship between the ELNO and the land title registries. These are the requirements on which the NSW Operating Requirements are based. MPR Model Participation Rules, the rules governing the relationship between the ELNO and subscribers, participants in the system such as lawyers. These are the rules on which the NSW Participation Rules are based. Representative A lawyer

eConveyancing – it’s real and it exists today

April 9, 2019

eConveyancing – it’s real and it exists today eConveyancing has been talked about in Australia for over 10 years and the conversation has typically revolved around electronic settlement. The terms e-conveyancing and e-settlements have been used interchangeably, but e-settlements are only one part of the wider e-conveyancing system. The last several years have seen a significant evolution in technology available to the conveyancing industry and it’s time to broaden the scope of our discussions. Electronic conveyancing is meant to bring the industry into the digital world and improve processes, but there’s no denying that the changes that have come along with it combined with the downturn in the property market and increasing competition have put serious pressure on practitioners. Our clients have told us time and again that they’re being expected to work faster while dealing with constant change and mounting risk. That’s why we’ve been working with our clients and industry stakeholders to build technology that is integrated, easy to use and improves upon the manual process. We are the first technology provider to develop a comprehensive end-to-end electronic conveyancing solution that integrates with over 30 practice management systems to increase efficiency, mitigate risk and improve client experience. When

Five sales tips for legal and conveyancing practitioners

April 5, 2019

Five sales tips for legal and conveyancing practitioners The perception of ‘sales’ from people not directly involved in sales tends to be that it’s a scary practice that they want to stay well clear of. Salespeople sometimes have a reputation of being pushy, overconfident and arrogant. However, today the most successful salespeople are trusted advisors to clients and potential clients. In an increasingly challenging property market, it’s important to look at ways to differentiate your firm and find ways of winning new business. Below are some sales tips that can help you or your firm win new business without coming across as pushy, arrogant or annoying. 1) Follow up every enquiry promptly. A great way of following up a telephone discussion or meeting with a potential client is to send them a follow-up email/ quote/ proposal promptly. This should articulate what you discussed, the services that you offering to them and why they should trust your firm to undertake this work. 2) Call to ask for the business. This doesn’t have to be pushy, you are purely asking them if they have any further questions and whether they are ready to proceed. 3) Listen to your client. A mistake even the most experienced salesperson falls

Why Title Insurance is important in the age of eSettlements

February 26, 2019

Why Title Insurance is important in the age of eSettlements Insurance… there are so many different types. You always hear about that one guy who claims he slipped and fell off his own roof and got some massive settlement by dredging every cent he could from his house insurance. But that’s not the only kind of insurance we have. We also have car insurance, contents insurance, life insurance, accident insurance, disability insurance, public liability insurance… the list goes on. But what is Title Insurance? Not many people have even heard of this one, but it is becoming far more necessary as we move into an e-settlements era. Title insurance is a form of insurance that has always been available to prospective purchasers of property in NSW and is a risk management tool with benefits that seem almost too good to be true. Why do I need Title Insurance?Properties come in many shapes and sizes: houses; units; townhouses; and vacant land. They’re all unique but share one thing in common, a “Title” … or “Certificate of Title” In previous years/decades/centuries. This involved getting a physical, printed title that covered your land & any interests on it (like mortgages, leases, other encumbrances).

5 facts about Old System Searching

February 21, 2019

5 facts about Old System Searching We sat down with Mark Groll, InfoTrack’s Old System Searching Specialist and one of only three people in NSW who can do all aspects of Old System Searching to learn more about the process. Mark has been investigating NSW land titles for over 40 years and often liaises with the land titles office to make improvements to Old System Searching. His reports are regularly used in court and stored as evidence with the land titles office. 1. What kind of information can you find through Old Systems Searching? n the past, investigations were mainly conducted for the sale, purchase or refinance of a property, in most cases investigating the title back 30 years’ in time to identify a good commencing point. Unfortunately, these types of old system searches have decreased over the years as more properties have been converted to the Real Property Act Title even though it’s risk not to do them.Despite the decrease in certain types of Old Title searching, the need for investigating Old System Title has actually increased over the years, spurred by the following types of investigations. Locating and identifying lands and terms and conditions of rights of way, easements and covenants that benefit

Top 10 tips to settle effectively in Queensland

October 11, 2018

Top 10 tips to settle effectively in Queensland The settlement process is the last leg when dealing with property transfers, and although it may seem like the light at the end of the tunnel for your clients, it can go very wrong, very quickly. There are many factors to settling effectively, and if any number of them are overlooked, it can make things difficult for your agent to get all the information they need to ensure that there are no hiccups or delays. Here are some basic tips to follow to help your agent settle effectively and conclude the final steps in transferring property. Tip 1: Give your agent specific details When engaging with an agent, it is crucial to advise exactly what is required for the matter. Whether your agent will need to attend to stamping, registration of priority notice, collection of cheques, etc. Also, your agent will need the settlement details including time, date, venue and which party the agent acts for in the transaction. This sets the foundation to settle effectively, and if any of the details provided change, you must advise your agent at your earliest convenience. Tip 2: Know all the documents that are required

Top benefits of the sharing economy for your business

eConveyancing terms and acronyms

eConveyancing – it’s real and it exists today

Five sales tips for legal and conveyancing practitioners

Why Title Insurance is important in the age of eSettlements

5 facts about Old System Searching

Top 10 tips to settle effectively in Queensland

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