Tasmania’s property bump keeps conveyancers on their toes

BUSY conveyancers on the Apple Isle have been handling a housing bonanza at the same time as added compliance and upskilling to deal with e-conveyancing.

Tasmania is experiencing a post-COVID property bonanza with buyers from the mainland returning to the Apple Isle in droves and keeping the state’s conveyancers very busy, according to the president of AIC (TAS) Emmi Balmer.

“The market has picked up, especially with first home buyers and mainland buyers,” says Balmer, who saw 2277 sales recorded in the state in the last quarter. “Although there is still the issue of affordability.”

Balmer says Tassie’s 15 licensed conveyancers are a close-knit bunch, who often work together to pull off some of the southern state’s trickier transactions.

“Given we are a smaller state, having a great working relationship with your colleagues definitely helps with the tricky files,” says Balmer.

“I would describe the typical Tasmanian conveyancer as extremely committed to what they do, and the service they provide to their clients, and passionate about the advancement of the industry.”

And Tassie does have some catching up to do with its northern neighbours, as it has not yet implemented PEXA and, in the coming years, the state’s conveyancers will need to learn how to transact in an electronic space – something the AIC (TAS) is anticipating will be a game changer.

“It will free up a lot of time for settlements and ensure that settlements take place smoothly without the worry of documents or funds being incorrect and settlements falling over on the morning or, even worse, at the actual settlement location,” says Balmer.

“As we transition into the e-conveyancing space, the AIC TAS division has been focused on education for our members as well as transparency about what the government is doing in the background.”

Meanwhile, Balmer says the biggest challenges affecting her members in recent times has been adapting to include the state’s new compliance requirements.

“The Land Titles Office has implemented the Recorder’s Directions which incorporate compliance examinations on right to deal, client authorisation and verification of identity (VOI) so we have been adapting to that.

“Compliance challenges seem to be the biggest challenge to our members and finding the time to answer to the examinations is substantially affecting Tassie’s conveyancers. It is taking staff away from working on their files.”