The majority of property settlements in Queensland are now being processed by the nation’s leading platform, PEXA – and the state is well positioned to join Victoria, New South Wales, Western Australian and South Australia in officially moving its sector online.
Increasingly, consumers and industry alike are profiting from a host of benefits, including faster processing times and heightened security.
And Townsville District Law Association (DLA) President Michael Murray believes the transition to mandatory digital conveyancing is “inevitable”, with the upside for industry professionals and consumers clear for all to see.
“A large proportion of our members are using digital conveyancing now and they’ve been very vocal about the benefits it is providing to their clients and their business.
“We are living in an age of innovation within the legal landscape presently. However, we also live in challenging times and digital conveyancing is being used to ensure firms remain efficient and productive during this year and beyond.
“The entire industry is become increasingly digitised and I certainly don’t see that slowing down. Firms need to be adaptive with their digital capabilities and receptive to their client’s preferences.”
“A number of our members were very early takers to digital conveyancing, with a large proportion of our members currently using it now and they’ve been very vocal about the benefits it is providing to their clients and their business” Michael says.
“The entire industry is become increasingly digitised and I certainly don’t see that slowing down. Firms need to be adaptive with their digital capabilities and receptive to their client’s preferences in the future.”
Amidst this wholesale change to the way property is bought and sold in the Sunshine State, representative bodies are playing an important role in guiding legal practitioners.
Michael says relationships between DLA’s and industry players such as PEXA will continue to be incredibly important as new conveyancing processes become the norm.
“District Law Associations and providers such as PEXA will continue to play a huge role in supporting their members during this change, as they have done in the past.
It’s important to continue to engage on a local level with local practitioners on key and monumental shifts in the legal landscape.
“District Law Associations and providers such as PEXA will continue to play a huge role in supporting their members during this change, as they have done in the past. It’s important to continue to engage on a local level with local practitioners on key and monumental shifts in the legal landscape, such as electronic conveyancing.
“This collaboration has really helped with entering this new era of e-conveyancing.”
Queensland is currently spearheading an early year surge in Australian property transfers, recording an increase of more than 25% year-on-year in all sales settlements for January and February, with March numbers projected to consolidate this fast-start, according to data released by PEXA.
And as the sector moves toward further, seemingly inevitable transformation, the support of organisations such as the Townsville DLA, in addition to effective partnerships between adjacent industry players, will be key for the state’s continued digitisation.
