The increasing prevalence of super low cost conveyancing outfits, both registered and unregistered around Australia has given me cause to consider where the ‘real value’ is in hiring a conveyancer. If we are to believe what the discount conveyancing market is trying to sell us, then it would be reasonable to assume that little or no professional expertise is required in the preparation or review of a contract of sale for residential real estate. If this were the case, a conveyancer or a property lawyer performing conveyancing would scarcely able to differentiate themselves save as to price.
But truthfully, this isn’t the case. Sure, people do have the option to retain a conveyancer purely for the administrative process of a conveyancing file. Coordinating with the many stakeholders, confirming the settlement numbers and physically attending to settlement are all tasks required in the process. However the true VALUE comes from the commercial insight and the preparation and or review of a contract of sale. It is here where the value adding functions of a good conveyancer or property lawyer standard out.
If you are in the market for conveyancing services and you don’t really know what to look for and are then tempted to make a decision solely based on price then as an industry professional, I would urge you to reconsider. Why? Because like in most things, you get what you pay and with conveyancing it is no difference. By reading below, I hope to be able to assist you in determining VALUE as it is my view that value should in fact be the guiding principle of a buyer or seller when choosing a conveyancing service.
If ‘value’ seems a little subjective to you, then consider the following:
There are many ways to cut a cake, some better than others. If I were to cut you a large chunk of beautiful sponge cake and then remove the Jam and Cream before hanging it to you, would you be impressed? Honestly, I don’t even need to wait for the answer. No.
Well if you are not carefulpractically this is exactly what you are getting when retaining the services of a discount conveyancer. By removing the commercial review or performance of critical searches, by not preparing the contract of sale or including special conditions, by not lodging caveats or giving notices, the budget conveyancer is scoping out a lot of the key legal consideration in the job reducing it to merely an administrative task. This may sound ok, but by doing this, they are implicitly accepting risk. YOUR RISK. Now that might be fine if you are informed and understand the risk (personally, I wouldn’t let my Mum take it, so I am definitely not going to let my clients!) that’s fine however it’s when a client implicitly takes an unnecessary risk because of a lack of understanding, that’s when I say the offer lacks value for the client.
Now to say that the discount conveyancer won’t perform these services may be an overstatement. Check the T’s & C’s carefully, as these are likely Extra’s which may result in you paying much more than the anticipated price.
At the other extreme is the Premium Conveyancing service. Usually offered by a lawyer or very experienced conveyancer and usually more than twice to three times the cost of a budget conveyancer. The justification for these conveyancing services is twofold:
1. Lawyers are all insured by the Lawyers Fidelity Fund. Insurance premiums in this area are HUGE! Whilst the insurance affords you, the client, fantastic protection for things like mistakes, fraud or negligence, most practitioners use it as a justification for higher conveyancing costs; and
2. Premium Conveyancers are far more likely to include in their scope of works reviews and advice, which are the technical aspects of conveyancing often excluded in the cheaper end of the market.
ThinkConveyancing.com.au attempts to bridge the gap between these two ends of the market and offer a VALUE based service offering. Our teams are led by experienced lawyers who are insured by the lawyers fidelity fund, which protects you. Because they don’t do anything other than conveyancing, they have a great deal of experience in the area, which ensures you get up to date, measured advice. We do this however, keeping in mind that cost must be accessible. We are endlessly innovating and improving our processes to give you both a better experience of our service at a cost point that is AWLAYS competitive. That’s that ThinkConveyancing.com.au is all about, a Quality service for a GREAT
Price. Quality + Great = Value.
If you are trying to decide between a few quotes, here are a few Warning Signs you should keep in mind, so that you aren’t making a decision based on price alone.
- If the quote you have received EXCLUDE or requires an additional FEE for the review of your Contract of Sale, be careful.
- If the Fixed quote is surrounded by exceptions and potential for additional costs, chances are your final bill will be significantly different, be careful.
- If you are advised that you don’t need searches for the preparation of your contract, run.
- If you ask your agent if they have been paid a commission for the referral they gave you to your conveyancer, run.
- If you you call your conveyancer and can’t easily get in touch with the, be careful.
Here at ThinkConveyancing.com.au we also suggest that you google any firm you are considering engaging looking for reviews of their services. The collective knowledge of consumers, rarely allows a poor operator to last long without a poor review popping up somewhere. On the other hand, if you are satisfied with our reviews (you can find them here: www.womo.com.au/thinkconveyancing.com.au) then you could Request your Free quote now start the process Now.
Buyers click Here.
Sellers click Here.
Ps. If you have a conveyancing question you want answered or you would like discussed on our blog, please email me at firstname.lastname@example.org.