A settlement agent arranges the transfer of legal ownership of a property from the seller to the buyer. That covers:

• arranging the transfer of the title;
• liaising with the banks to discharge or register a mortgage on the title;
• notifying the local authorities of the change of ownership;
• verifying the identity of the parties; and
• adjusting the rates and taxes.

A settlement agent can be a conveyancer or a lawyer. Both are qualified to complete settlements. The difference shows up if something on your file turns into a legal question rather than a paperwork one. See Settlement agent, conveyancer or lawyer: what the difference means in WA and What is a settlement?.