December 15, 2023

How you can simplify transactions during peak property season

The property landscape is continually evolving, and it is evident that sales are starting to peak at different times of the year to what we are normally used to. These busy periods in the housing market can significantly impact a professionals workload, particularly lawyers and conveyancers, especially when so many stakeholders are involved in a property transaction process. To support legal professionals during demanding periods, we explore how digital technology can assist in completing transactions more efficiently.

The most popular times in the property market

Selling a house can be a bittersweet and overwhelming experience for property owners and naturally, people want to maximise the potential of a sale. Spring is one of the busiest seasons for property sales but it’s also the most competitive time of year in the market. It’s recommended that vendors consider selling when there is more demand than supply and Autumn is the ideal time of year for this, with March a particularly popular month. Lawyers and conveyancers may notice an influx of property transactions during these months compared to other times of the year.

Seamless and more efficient property transactions

To assist legal professionals throughout this seasonal uplift, turn to innovative technology to support more efficient property transactions. Securexchange is a property exchange platform that is dedicated to simplifying and streamlining the process of a sale. The digital platform has optimised the way professionals in the industry operate and connects lawyers and conveyancers with real estate agents, buyers, and vendors in one workspace.

For legal representatives, Securexchange provides:

Convenience: simply create individual workspaces for each property, review and exchange a Contract of Sale, and invite parties into the platform to securely request and share confidential information.
Efficiency: transactions can be completed more efficiently than ever before and on average legal representatives can save up to one hour per conveyancing and property matter.
Collaboration and transparency: according to Thomson Reuters, innovating with technology has become crucial for law firms and clients are expecting businesses to be adding value by streamlining processes. Securexchange enhances collaboration and transparency by connecting all parties in a transaction in one space. You can also track the progress of a transaction and receive notifications when updates are made. This is a significant improvement to traditional processes where stakeholders are usually disconnected.
Protection from cybercrime: a recent report from the Australian Signals Directorate (ASD) identified that email compromise and business email compromise fraud were the top types of cybercrime impacting business in 2022 – 2023, and property transactions have become a prime target for this. Securexchange provides security from external threats and prevents the risk of email fraud and stolen funds.

Supporting legal professionals during peak periods

In Autumn 2023, over 26,000 property transactions were completed in Securexchange, a 53% increase compared to the same period a year prior.

Lovy Goundan, National Sales Manager for Securexchange said, “this data shows that there has been a substantial rise in property transactions between March to May, however September to November has also been a busy period for 2023. Whilst demand in the property market has been a factor, we’ve also seen an increase in legal professionals using the platform as a more efficient and safer way to complete transactions.”

Protect yourself and your clients with Securexchange