By Debbie Ferris, Director/Licensee at Ferris Conveyancing
A client sent me a testimonial one year and to my delight, it was an endorsement that all our industry hopes to receive at the end of a property transaction, “Thank you very much for making this a pain free process”.
This ‘pain free process’ epitomises what the conveyancing process strives to be, and when you’ve got it down to a tee, why change?
I’ve run my Canning Vale Conveyancing service for eight years and for seven and a half of those, my settlements were completed 100% via paper. It worked for me and I knew I could provide a good customer experience with it. When electronic property transactions appeared, I have to be honest, I wasn’t confident in the online system, thinking of myself as ‘old school’.
Hesitant to make the change, and late to the game, I completed my first electronic settlement just six months ago. From my first settlement I could see the benefits e-Conveyancing would have for my practice and my clients. Now, in just six short months and over 65 online transfers later, its business as usual with electronic transactions and I encourage everyone to move online.
The main benefits for me are not having to attend the city to complete paper settlement and receiving cleared funds promptly. As properties settle much quicker on PEXA, I am able to perform final post-settlement title searches for my clients sooner than in paper.
How to make PEXA ‘business as usual’
Changing your status quo can be daunting but it’s certainly not impossible. I’d recommend the following for all Settlement Agents making electronic transactions their ‘norm’.
I received PEXA Direct training from Michele Upfold at PEXA for my first PEXA settlement. I then worked through workspaces by myself to learn and resolve any issues. From time-to-time if I got stuck, I’d speak with Michele if I was unsure. There’s a lot of training and resources available to help you.
Ask your peers
I have assisted several Settlement Agents already and there are many others doing the same. Why not reach out to a peer for advice or guidance?
Understand the benefits for your clients
The fewer mistakes possible, the less your client will be impacted. Transacting online reduces the likelihood of human error, provides sellers with their funds quickly and buyers get their names on title almost immediately.
Don’t forget, PEXA is now the only process – paper or electronic – that provides sellers with protection against fraud. The PEXA Residential Seller Guarantee should counteract any reluctance by customers or Settlement Agents to transact online.
When digital becomes your everyday be proactive in your workspaces, communicate with other parties and don’t leave tasks to be completed on day of settlement.
I’ve prepared my practice for electronic lodgements and settlements and will never turn back. It can become your ‘business as usual’ too.