Firms Embrace Digital Platforms for QLD Property Sales

New legislation mandating the use of digital platforms for property transactions has been embraced by Queensland’s legal and conveyancing industry, who say it’s faster and more efficient.

Tomorrow (20 May 2023) marks three months since the Queensland eConveyancing mandate was introduced, requiring vital paperwork related to property transactions to be lodged electronically.

Queensland Law Society’s General Manager of Advocacy, Guidance and Governance, Matthew  Dunn, said mandating eConveyancing is the next step for many legal firms which had begun  during COVID.

“Throughout COVID, Queensland lawyers were conveying more property than any other  jurisdiction in the country,” Mr Dunn said.

“Lawyers see how digital processes could help make transactions more efficient, and the  introduction of the mandate in February 2023 coincided with a softening of that boom that  helped practitioners focus on turning digital.

“It’s important for practitioners to remember that for those situations where an electronic  platform doesn’t quite fit, there are exemptions in place to help ensure the mandate is flexible,  practicable and workable. The mandate is a positive step forward in helping streamline property  sales throughout the state”.

InfoTrack’s Head of Property Australia, Lee Bailie, said the mandate brings Queensland in line with  the rest of the country.

“Queensland was the last major Australian state to introduce a mandate, following Victoria, South  Australia, Western Australia, and New South Wales, and overall, it’s been very well received,” Mr  Bailie said.

“In the past, transactions may have been stalled due to the nature of physically having to sign and  send paperwork. The feedback we’re hearing is settlement delays have not been as problematic  since the widespread adoption of digital platforms, and that processes are more secure.

“Electronic conveyancing also offers greater flexibility for everyone involved in the buying and  selling process, because paperwork can be submitted and handled from anywhere at any time.  And now, digital platforms are available for every step of the transaction, from verification of  identity through to online settlements.”

The Queensland Law Society’s website Property Central is available for lawyers seeking help with  the transition. InfoTrack facilitated more than 35,000 property transactions across Queensland in  2022 through its eConveyancing solution SettleIT.