Now, 94 per cent of eligible conveyancing transactions are being completed electronically in NSW. This figure is close to 100 per cent for Victoria.
As the adoption of e-conveyancing increases, some lawyers and conveyancers 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 opportunities?
The Eventful Group’s “2019 Legal Innovation Report” found that 48% of Australian firms surveyed expressed their biggest challenge to driving innovation and using new technology internally was ‘getting enough time and resources away from business as usual’ to make a change.
Yet new technology doesn’t need to be complex. It’s about bringing people together to learn and use technology in a smart way to foster ideas and opportunities.
For many, learning a new system to conduct e-settlements has been time consuming. If you find yourself inundated with administrative work due to mandated e-settlements, you can use a partner to handle the administrative aspects of your property transactions, once the contract goes unconditional.
Many practitioners now use electronic services and smart technology to help them navigate e-settlements. SettleIT allows you to share the load on the administrative aspects of conveyancing, post unconditional contract exchange. With one click, you can book a SettleIT agent who will act under your instructions and provide a personalised fixed-price service.
SettleIT consists of a highly experienced network of settlement staff that serve over 8000 clients and process an average of 200,000 settlements per year. All this is due to smart workflow automation technology.
Why use SettleIT?
- Efficiency: Handle more volume with less outlay and cost in resources. Have a trusted solution whilst away or on holidays.
- ELNO: The entire settlement is managed on your behalf, accommodating either PEXA, Sympli or manual services.
- Time: No longer spend your time on the phones with banks and utilities. All adjustments are calculated for you.
- Low Cost: A single fixed fee disbursement is deducted at the end of the matter from the settlement proceeds. There is no fee to re-schedule cancelled settlements
- Control: You have complete transparency, control and sole authority from beginning to end.
- Security: All bank account details are phone verified before transferring funds as well as the use of Securexchange
- Integration: User friendly interface also offering complete integration with LEAP and Smokeball
After using SettleIT, Michelle Walker of Baxters Solicitors in Queensland said, “My settlement went very smoothly with the assistance of the SettleIT Team. They were patient and helped get my matter across the line.”
How SettleIT works:
SettleIT allows you to share the administration load, post unconditional contract exchange. By reducing the load of administration tasks, you can focus on the more skilled facets and increase your profit margins.
Simply book the service you need, when you need it and immediately benefit from time and cost savings for your firm. At all times, you maintain complete control of your client matters and the direct relationship with your client.
Using technology to compete administration tasks doesn’t have to be time consuming, especially when using services that work on demand, when you need it. To find out more about SettleIT and InfoTrack’s national network of verified agents, click here.