Settlement Agent Explained
HAVE YOU EVER WONDERED WHAT A SETTLEMENT AGENT OR PROPERTY CONVEYANCING AGENT ACTUALLY DOES AND WHY YOU NEED ONE?
Then check out this video interview with KDD Conveyancing Services licensed conveyancer Kylie Dillon explaining the Settlement Process.
READ THE FULL INTERVIEW BELOW TO LEARN ABOUT THE DEFINITION OF SETTLEMENT AGENT AND CONVEYANCING.
What is a settlement agent and what do they actually do?
A Settlement Agent is a trained and qualified professional that is engaged to facilitate the transfer of the legal ownership of the property.
The process as we know it in Western Australia is property conveyancing by settlement agents. Basically our jobs are to get the client from point of sale to settlement.
What is the importance of Choosing a Settlement Agent?
Property Conveyancing is a complex and time-consuming process. I suggest to my clients they choose a settlement agent as they would choose any other professional they require to fulfil their needs. For Example, their banker, their surgeon, their accountant or doctor.
What are the requirements of a Settlement Agent?
In order to carry on business as a settlement agent in Western Australia there is a requirement to be licensed and to hold a current training certificate which is granted by the Department of Commerce.
What is required to be granted a License?
The licensing system ensures only suitably qualified people are allowed to operate in the settlement industry. We must also hold professional indemnity insurance and participate in the annual CPD program.
What is the CPD program?
The Compulsory Professional Development program is designed to increase knowledge, skills and professionalism in the industry. It also ensures that those operating within the industry are maintaining the latest and up to date information in settlement processes.
KDD Conveyancing is CPC Accredited. What does that mean?
AICWA has initiated a program titled CPC to differentiate those providing a high level of services and knowledge.
What requirements are needed to become CPC Accredited?
To become a Certified Practicing Conveyancer a settlement agent must of completed the educational and practicing training requirements for certification. Plus be a member of the AICWA.
How does CPC maintain this Accreditation?
A CPC member must abide by a strict set of rules, to ensure the highest level of professional and ethical conveyancing standards are met and in return they’re able to promote themselves as the elite of the property settlement industry.
How would you best describe the service your client could expect to receive?
Property Conveyancing is not a one size fits all process, we approach each transaction as individual and unique. We like our clients to feel empowered throughout the settlement process, therefore we make it a priority to guide them through with professionalism and quality advise through out the transaction.
The property settlement industry is constantly evolving. How do you meet this challenge?
It is important to be able to adapt to change and grow with it. I believe that most conveyancing challenges are reasonably dealt with if you have the right expertise. This is why it’s so important to us to maintain our CPD program and enhance our skills along the way.
What is the secret to your success?
I’ve always maintained you’re only as good as the people who work along side you day in and day out. Each and every staff member plays a vital role in the running of a successful business. The bigger the dream, the more important the team.
