Conveyancing Archives - Page 3 of 3

Don’t get caught out with the 1 July 2019 mandates

May 14, 2019

Don’t get caught out with the 1 July 2019 mandates Right now, in NSW, conveyancers and lawyers lodge around 84 per cent of all possible dealings electronically. This includes more than 80 per cent of transfers. We are now just weeks away from the 1 July 2019 mandate—when all mainstream conveyancing dealings must be lodged electronically—whether they are standalone or in combination—for example, a typical property transaction involving a discharge, transfer and mortgage. If you are a practitioner receiving instructions to act on a sale or purchase of property on behalf of a client, it is critical from now to make sure you prepare your dealings for electronic lodgment if you think the matter will settle after 1 July. In these last weeks leading up to this milestone, please do not hesitate to contact ORG if you need support. We will also be out on the road talking to practitioners across regional NSW and in Sydney. And we will continue to update our website with resources and information to support your transition. You can find statistics, including a breakdown of subscriber uptake by area code, on our statistics page. Here’s a few more resources that can help right away: FAQs Training workshops How

The evolution of eSettlements

May 2, 2019

The evolution of e-settlements Despite its increased prominence and continued growth, the sharing economy won’t completely replace traditional economic networks anytime soon. It’s more likely to force existing industries to become more like the collaborative platforms that challenge them, with potential benefits for everyone involved. As the adoption of eConveyancing increases, there is a real threat that some lawyers and conveyancers won’t be able to make the transition and may be left behind. This is due to several factors such as the inability to price competitively, difficulty upskilling resources, a gap in technology knowledge or challenges with adopting new online processes. How can we transform these threats into tomorrow’s opportunity? At InfoTrack we have been thinking about how we can support our clients with answering this very question. SettleIT (in its newest form) has been further enhanced to offer our clients an opportunity to book their e-settlement processing needs via a shared economy of settlement agents.The objective of this service aims to provide all practitioners with an opportunity to continue operating and potentially expand into other areas of practice by accessing professional support on demand, without having to invest in IT or upskilling resources, and without having to be registered with

In the Torrens system, registration (without fraud) is still trumps

May 2, 2019

Three ways you can remain productive and effective when working remotely In the current climate, working from home or away from the office has become a necessity rather than simply making headway towards a flexible working arrangement. Now more than ever, the health and safety of people is leading the way. But even during times like these one big question remains; are we as equally productive at home as we are in the office? Do we get more or less work done working from the comfort of home? Some will argue they are more productive with less noise and interruptions, while others find tasks to complete around the home that distract them from work. So how do we combat this? Here are three tips and tools to ensure your firm can continue to work anywhere at any time, combatting that productivity lag. Think about how you communicate with staff and clients If you’ve been working from home for a while, there might be a sense of isolation from your team. It’s important to use tools beyond email and instant messaging that replicate the feeling of being together. Video programs like Zoom and Microsoft Teams are easy to use and allow

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).

Your seamless settlement and lodgment solution