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Conveyancers and real estate agents are distinct professionals with different roles in the property transaction process. Red Door Conveyancing provides an explanation of what conveyancers are and how they differ from real estate agents.
Conveyancers
- Role: Conveyancers exist as licensed professionals who specialise in providing legal and administrative assistance during property transactions. They focus on the legal aspects of buying or selling property, ensuring the transfer of ownership proceeds correctly and in compliance with relevant laws and regulations.
- Services: Conveyancers handle tasks such as preparing legal documents (e.g. contracts, transfer of title), conducting property searches, verifying ownership and title details, liaising with other parties involved in the transaction (e.g., buyer / seller’s conveyancer, financial institutions), coordinating settlements, and providing advice specific to the conveyancing process.
- Licensing: Conveyancing in Victoria requires a licence or registration. This can differ depending on the state or territory in which they operate. They must adhere to professional standards and regulations set by the relevant licensing authority.
Real Estate Agents
- Role: Real estate agents are professionals who assist buyers and sellers in the property market. They work on behalf of property owners to market and sell properties, or on behalf of buyers to find suitable properties for purchase. Their primary role is to facilitate the transaction and negotiate on behalf of their clients.
- Services: Real estate agents provide services such as property valuation, marketing and advertising, property inspections, negotiating offers and counteroffers, facilitating the exchange of contracts, and guiding clients through the sale or purchase process. They have a deep understanding of the local property market and trends.
- Licensing: Real estate agents in Australia must also hold a valid licence issued by the relevant state or territory regulatory authority.
Key Differences
Focus: Conveyancers focus on the legal and administrative aspects of property transactions, ensuring compliance with legal requirements. Meanwhile, real estate agents focus on marketing properties, facilitating negotiations, and assisting clients in buying or selling properties.
Expertise: Conveyancers are specialised in conveyancing and have in-depth knowledge of property law and related processes. Real estate agents have expertise in property valuation, marketing strategies, and negotiation techniques.
So When Should You Call A Conveyancer vs A Real Estate Agent?
Conveyancer
Completing property transfers: Conveyancers play a crucial role in ensuring a smooth transfer of property ownership. So you should call them when you need someone to oversee the settlement process, including the exchange of funds and legal documents between the buyer and seller.
Handling legal complexities: If you are encountering any legal issues or complexities involved in your property transaction, such as encumbrances or disputes, a conveyancer can provide advice and navigate through these challenges.
Real Estate Agent
Market knowledge and pricing: On the other hand, if you want someone that can provide insights into property values, market trends, and help you set a competitive price when selling then you should call a real estate agent.
Property marketing and showcasing: If you are selling a property and need to market and showcase your property to potential buyers. Estate agents can create professional listings, arrange property viewings, and leverage their network to attract interested parties.
It’s common for buyers and sellers to engage both a conveyancer and a real estate agent when navigating the property market. The conveyancer ensures the legal aspects are handled correctly, while the real estate agent assists with marketing, negotiations, and finding the right buyer or property.
If you’re in the middle of buying or selling a property and would like to consult a conveyancer in Victoria, contact us today!
