Description

Licensed Conveyancers -

Consumer Risks

by Peter Mericka B.A., LL.B
Real Estate Consumer Advocate
Real Estate Lawyer
Qualified Practising Conveyancer Victoria
Director Lawyers Real Estate Pty Ltd

Since the Conveyancers Act 2006 was passed licensed conveyancers have commenced operations in Victoria.  The limitations on the legal work and legal advice conveyancers are permitted to offer consumers, together with the corruption generated by "client trafficking" puts consumers at great risk. 

Client trafficking is the term used describe the use of bribes and rewards paid to estate agents in return for referrals.  The Conveyancers Act 2006 sought to limit the damage done by the payment of referral commissions, but the practice has flourished to the point that it has become a catalyst for corruption in the industry.

In addition, severe restrictions on the legal work and legal advice licenced conveyancers can offer to consumers, and the limited cover offered under licensed conveyancers' professional indemnity insurance, increases consumers' risk exposure while limiting the insurer's obligations to pay in the event of loss.

See article:
Licensed Conveyancers - A Risk For Consumers >>