Back in simpler times, that risky approach might have been manageable but in 2015, and for the foreseeable future, there is change and increasing complexity all around us.
This means the person or people you entrust to settle your real estate purchase need to be not only on the ball but also ahead of the curve, as I discussed last week in June 30: A crucial date for Real Estate sales.
Furthermore, new data shows our property sector now contributes 11.5 percent of Australia’s Gross Domestic Product, outstripping mining and even the finance sector itself.
So amid this developing sector, would you really trust such significant affairs to a discount processor?
Change is the only constant in real estate so pick a conveyancer who can keep up!
In recent weeks I’ve covered a number of fundamental changes approaching the worlds of Real Estate and Conveyancing, not least of which is the push to the digital buying and selling of real estate along with changes in contract terminology and costly confusion over swimming pool certification in houses being sold.
Luckily, our team size at Eckermann Conveyancers means we can afford careful investment in technology upgrades to keep pace with change and manage staff training and professional development in ways that don’t impact on our clients.
From your perspective as a client, it means that when you read stories like Move to axe Stamp Duty earns praise (Advertiser, June 6, 2015) you don’t have to nurse doubts about whether your conveyancer is applying the latest rates and guidelines; we just know.
Property is going places
We have long known that buying real estate will be the biggest, most life-changing purchase most people will make, where little mistakes in contracts and settlement can wreak havoc.
But a recent article in The Australian, Property now Australia’s biggest industry: Property Council, has underlined just how high the stakes have become to our national economy.
The article quantified this by detailing that the property sector generates more than 10 percent of GDP, employs more than one million Australians and pays just over $72 billion in taxes at federal, state and local levels each year.
These figures simply highlight to me how important it is that you are prudent and choose wisely when engaging real estate agents, financial advisors and conveyancers because one weak link in the chain can be expensive if they’re not up to date with current legislation, laws, and rates.