As remote and online work become the norm, moving your conveyancing process from paper to digital is increasingly important and will futurise your practice.
The pressure continues to mount on simplifying work and taking the time-consuming and repetitive tasks out of the equation. While technology can be seen as an expensive luxury, especially for smaller firms, it should be viewed as an investment. Adopting technology in your firm to automate tasks means staff can spend their time servicing clients or bringing in new business.
As conveyancers transition from the manual and paper-based processes, to digital ones, it has been estimated to save 3.7 hours per transaction.
Digital tools that can futurise your firm include: Verification of Identity, a Search platform, Electronic Contracts of Sale, Electronic Signing and electronic Settlement.
Verification of Identity
The first tool to futurise your firm is to utilise electronic Verification of Identity. In today’s competitive landscape, conveyancers need to do whatever they can to stay ahead of the competition. Electronic Verification of identity (VOI) has allowed firms to deliver a seamless experience to the client with the bonus of saving time and money for their firm.
VOI allows you to easily and securely identify your clients from any location. There’s no physical printing, scanning or filing required – everything can be done within a web-based solution.
With the introduction web-based applications to verify a person’s identity, professionals have put time back in their day and saved their clients a lot of money.
A Search Platform
The next tool is the use of a Search platform to conduct your due diligence, rather than council websites.
With the use of a search provider like triSearch, you can find all your property searches, certificates and reports through one platform. All searches require minimal data entry with a streamlined workflow, saving you a lot of time.
You can conduct all your due diligence through the one convenient platform, without the need to visit different authorities.
On average, it takes between 66 and 77 days to sell a property in Australia. While there’s no avoiding the complexities of buying or selling a home, fast and smooth transactions are always in the best interests of your client.
With the ability to order a selection of eContracts through a search platform like triSearch, you’ll be able to finalise documents much quicker than hand drafting hard copy contracts yourself. What’s more, eContracts can be sent directly to the agent via email, which is a much more convenient alternative to the traditional method ensuring contracts are securely packed and mailed.
With lockdowns and social distancing taking place all over the globe, business operations have dramatically changed. From online meetings to digital signatures, the world is finding solutions to operate under the new norm. The use of technology is playing a crucial role in transforming traditional methods of doing business into modern, more efficient ways. One example of this is Electronic Signing.
Execute documents faster and avoid the hassle of printing, scanning and posting. SignIT, triSearch’s solution enables you to sign documents online in a few simple steps and is accessible by all triSearch account holders. Utilising the industry expert, DocuSign, to ensure a simple and secure signing process.
Prior to the introduction of PEXA, settlement involved the physical exchange of documents and cheques between the two representative and banks. While this is still the process, the introduction of electronic settlements, around 5 years ago, has meant that all of this can take place in an online workspace.
With the introduction of tools like SettleIT, through triSearch, Lawyers & Conveyancers can now outsource property settlements. Agents will complete all the administrative roles of the settlement while you continue to approve everything and provide professional services to your client.
As remote and online work become the norm, moving your conveyancing process from paper to digital is increasingly important.
If you want to find out more how to futurise your firm, you can register for our free 30 minute webinar on September 26, ‘How to futurise your firm with eConveyancing tools’.