One ACT franchise group is reaping the benefits of regular legal advice workshops with local solicitors, one of its directors has said.
Speaking with Real Estate Business, co-director of Luton Properties Weston Creek Tim Burke said it was important for industry professionals to maintain a relationship with local solicitors.
“Generally when it comes to conveyancing, while we’re certainly not experts, we want our agents to have a basic understanding of the contract that goes out there and what goes into it,” he said.
Luton Properties holds regular franchise-wide meetings to discuss important issues as they arise.
“We do training on anything and everything, but for a more ‘specialist’ session, we’ll get a solicitor in or someone to talk about tax depreciation," Mr Burke continued. "We have a reasonably close relationship with a lot of the solicitors around town.
“So we’re getting the legal people in to say yes or no, because there seem to be a few myths or misunderstandings out there as to what can or can’t happen.”
Penny Erskine, marketing manager at Conveyancing Matters, said in a column in Real Estate Business' February issue that agents who worked closely with conveyancers can boost the chances of a smooth settlement process. Like Mr Burke, she suggests agents invite conveyancers to sales meetings with a view to helping agents better understand their role.
While Mr Burke claims they will only have a special guest in once or twice a year, it’s important to include both principals and agents.
“Sometimes it can be quite reactive as opposed to something that happens on a regular schedule, but generally we’d have a special guest in once or twice a year so it’s not information overload," he said.
“The information should come straight from the horse’s mouth, you don’t want to be playing Chinese whispers with legal terminology and legislation. If we get someone in, they’re given a brief on what we want discussed, and all the agents, principals and directors will be there to hear it first-hand.”
Mr Burke said some of the more recent talks have been based on auction contracts, helping to remind agents what they can and can’t do, as well as cooling off periods.