Summary: Running ones property conveyancing business the old way may not work in the long run. Let us find out some new and unique ways by which a new push could be given to existing conveyancing business.
One of the main reasons why there is a need to consider some out-of-the-box ideas for improving conveyancing business is because of increased competition, increased uncertainties and changing customer preferences and tastes. In such an ever changing and fluid environment, there is a need for even the most well established real estate conveyancing businesses to rework their entire business model. While the brick and mortar way of doing conveyancing business might work for the time being, as technology leaves it footprints behind, the day will not be far off when these services providers will be forced to rethink the way they are doing their businesses.
Apart from understanding the importance of leverage the internet and other modern technology to the advantage of property conveyancing businesses, there is also the need to work out other ways and means. At the end of the day there is hardly any doubt that conveyancing is all about building network and strengthening existing new relationships while strengthening existing ones. Towards this objective it is important for conveyancers to become members of various like minded associations and groups. For example taking memberships is reputed chambers or commerce can certainly help a lot. There are quite a few obvious benefits associated with such memberships. As conveyancers, you will be able to meet likeminded stakeholders who could help you in your endeavor to build networks and relationships. You will be able to come across many banks and financial institutions where a big chunk of conveyancing business is always up for grabs.
You will also be able to take part in various exhibitions, functions and other such events. This will help you to showcase your talent and credential in front of those who matter the most. You will also be a part of a wide platform of conveyancers. Therefore if you need to make a representation to the government regarding changing of rules pertaining to conveyancing, your voice will be heard more than ever before. Apart from taking memberships, you will also do well to take part in some reputed website competitions and programs so that your presence on the internet gets noticed by the various stakeholders. It will certainly help you to bring in new prospects who would become customers over a period of time.
Buying or selling a real estate property is not very easy. There are a number of complicated steps and processes that have to be gone through. It is very difficult for ordinary retail customers to understand these formalities and procedures. It is therefore not very surprising that most of the customers take the help of professionals to get through the various processes involved in conveyancing. However, it is very important to hire the right service provider who can help to meet specific needs and requirements. This is not an easy job. Today there are dozens of conveyancers in the market. Therefore identifying the right service provider requires having some basic understanding about the roles and responsibilities of these professionals.
Let us get started by understanding what exactly the role is of conveyancing companies. Put in simple words conveyancing is all about fulfilling the various formalities and procedures to facilitate smooth transfer of ownership from one entity to another. It starts the moment the buyers and sellers take an in-principle decision to go through the entire transaction. Once this has been finalized the professionals come into the picture. It is the duty of customers to identify the various professionals involve in the whole process of conveyancing. Once they are sure about the professionals who are important it would be easier for them to identify the right service providers.
As a rule of the thumb any good conveyancing company should be able to provide end to end services failing which they cannot be considered a one-stop solution for all matters related to this business. The next important when looking for conveyancers is to find out their overall experience in this field. A good quality conveyancer should have put in at least ten to fifteen years service in this area. Further it is important to keep in mind that all conveyancers should have a valid certificate to carry out their business in the city where they are operating from.
Timely servicing of clients is one more important point that should always be on the top priority list. This is because each and every process has some definite time lines which should be adhered to at all point in time. Last but not the least, being competitive on the price front is very important. However price-competitiveness is not about compromising on quality standards at any given point in time. Finally given today’s high-tech world, being present on the internet is very vital.
Buying and selling a real estate property is not as simple as buying and selling other movable and immovable properties. This is because of the unique nature of these assets. First and foremost, the money involved when buying and selling a property could run in to thousands or even millions of dollars. Hence, there needs to be lot of care and caution exercised by both the buyers and sellers. The buyers would like to be certain that they are buying the right property and the ownership of the property is beyond doubt. The sellers on the other hand would like to be certain that they will get the right value for the property that they are selling. What is the right value or not is a matter of conjunction and debate. Hence, there should be someone who can mediate and come up with a value which is acceptable not only by both the parties but also by the government authorities. It is here that the role of conveyancers becomes very important.
Let us for a moment imagine that we are going through a transaction without the help and support of property conveyancers. We will not be, as customers be able to find out what is the fair value of the property. We will have to go by the market report and this may not be always correct and authentic. The next important thing is that as first time buyers we will not have enough knowledge of the locality, nor we will we be able to ensure that the property is located at the right place. It is here that the role of property valuers and conveyancers becomes extremely important and crucial.
Further when buying a property it is very important to check on the legal tenability of the same. As simple buyers it is not expected of us to have any big knowledge about the same. We will have to take the help of professionals to ensure this. Here the role of property lawyers and advocates becomes very important. Their main job is to scrutinize the property documents and examine them under the microscope if needed. There could be some unpleasant surprises in the form of easements, covenants, existing mortgage on the property which might be hidden from the buyer. To avoid all these problems, the role of property lawyers and advocates extremely important to say the least. Hence, trying to buy or sell a real estate property without professionally will create more problems than solutions.
There is no doubt that property settlement is one of the most important and indispensable steps or processes that should be gone through before the ownership of a property gets transferred from the seller to the buyer. Hence, whenever a person is planning to sell or buy a real estate the first task is to identify the right property settlement professional. Without these professionals being in place it would not be right to move forward with the entire transaction.
This is because of the various complexities and problems that are a part of each and every property settlement matter. There are many legal issues that have to be tackled and even a small mistake or oversight can cost either the buyer or seller quite heavily. There have been many instances where the customers have burnt their fingers very badly because they may have tried to go through the entire property settlement process on their own.
Now that we know the importance of property settlement, it is important for us to be careful about some pitfalls that could come unexpectedly along the way. This is where the efficiency and experience of settlement companies and agencies come into play. Let us get started with the process of legally checking the property documents to ensure that everything is in order. This process is quite complicated and might call for looking up volumes of property documents.
A land for example might have changed hand a number of times before becoming the property of the present owner. It is the duty of the property settlement agent to have a look at the records of all the previous owners. He should also ensure that the change of ownership over the years properly and in the right sequence. He should be careful about some missing links.
In the same light there could be many instances where the buyer upon valuing of the property could come across of some shocking and surprising facts about the property. Many sellers often disguise and hide various covenants that could spoil the complete ownership of the property. Easement is one such covenant which could totally damage the full and undisputed ownership of a property. Hence, as buyers one should be aware and beware of this and the property settlement agents should be made to find out these lacunae without any failure. Last but not the least timely completion of the entire process is also something that should be always kept in mind.
There is no doubt that buying and selling a property is one big task that could consume lot of time and effort and of course money. While there is no doubt that both the buyer and seller stand to benefit commercially from any real estate transaction, there are quite a few complex situations and difficulties that have to be encountered along the way.
For first time buyers and sellers there is no doubt that these could be highly taxing and emotionally draining. Given the tight time schedules that most buyers and sellers have, they hardly have time to get in to the various processes involved in buying and selling. Further they also do not have any time to gather the required knowledge and have to depend on whatever information that is available from various sources including the internet and friends and relatives.
We have to bear in mind that property valuation is a subject about which not many of us the right knowledge. Hence we often go by hearsay or opinions that we come across from various mediums of information. While some information may be correct, there are a lot of myths and wrong information that is floating around as far as property valuation is concerned. Let us have a look at a few of them so that the customers can have a reasonably correct opinion and perception about the subject matter.
The first myth that we should as customers try and stay away from is the news that property valuation is something that can be done by the customers themselves. This might be true for professionals who are into the property valuation field. For ordinary customers this is not the right information because property valuation is quite tough and difficult.
Does making big change to the interior decorations result in higher property valuation? Not actually because this is more of an opinion rather than a fact. There are many property owners who have spend thousands of dollars on indoor renovation and refurbishment without taking care of the outdoors and gardens and they have burnt their fingers.
Banks usually have a habit of undervaluing properties because they can end up funding lower as far as mortgage loans are concerned. This is another very common myth that needs to be busted. Banks never value properties and the job is done by property valuers. The valuers are professionals who would do such a thing which could totally damage their reputation and career for good.