Am I choosing the right settlement agent?

Choosing a Settlement Agent: What Factors Should You Consider?

If you’ve poked around our website lately, you’ll have seen our specky new redesign and a new page of content: 5 Questions to Ask Before Choosing a Settlement Agent.

Many buyers and sellers go with the settlement agent recommended to them by their real estate agent, but we’ve put up that page because it’s worth asking some questions to make sure they’re going to do right by you. Questions like:

  • Will you communicate regularly with me?
  • Do you understand my situation?
  • Will you put the appropriate amount of care into my property transaction?
  • Are you a settlement agent, or a lawyer? and
  • Do you charge a fixed fee?

can help set great settlement agents apart from average ones.

Because while settlement agents all have the same aim (to complete your property settlement), there’s more to choosing a settlement agent than just the size of their quoted fee.

Their processes, the amount of attention they pay each property transaction, and the way they consider clients as individuals; all affect how likely they are to prevent or deal with bumps in the road during a property settlement.

As a recent visitor to our office put it:

When your BMW needs servicing, you don’t take it to the cheapest mechanic, with “DISCOUNT” or “HALF PRICE SERVICING” written all over it. You take it to the quality service shop that will look after your car. Well, a property is worth a lot more than a car. That’s why the conveyancer involved has to be the best, not the cheapest.

As with mechanics, there are some settlement agents who will take the most jobs they can at the lowest price, and there’s others who forgo discounting but choose to dedicate plenty of time to each client – I know which business model I prefer.