Electronic conveyancing is revolutionising property transactions across Australia, with a number of practitioners embracing and excelling in using the online process.
Electronic conveyancing is revolutionising property transactions across Australia, with a number of practitioners embracing and excelling in using the online process. Haines Conveyancing in Victoria, a busy regional firm, has implemented PEXA’s Transfer Guidelines to ensure that switching to digital is an easy, streamlined experience.
Justine Lidgett’s firm adopted PEXA in March 2018 and has now completed over 300 online transfer transactions. She has found that her firm’s workload significantly decreased as she completely eliminated certain steps previously required in the paper process.
A simple, but productive strategy has enabled her team to seamlessly complete electronic property transfers. As odd as it sounds, she was able to effectively train her staff in how to use PEXA without having to physically teach them. Her secret? Learn PEXA’s Transfer Guidelines, then duplicate each of the steps into a practice management software calendar. By following her method, Justine’s staff know exactly when to do what in PEXA and are not left uncertain.
PEXA has integrated with over 20 parties and Financial Institutions including the RBA, CATS, and SettsPlus, with these tech developments saving time and improving Workspace efficiency for users like Justine.
“E-Conveyancing is not rocket science. If people take the time to understand the procedures in PEXA and why they are there, a lot of the frustration will be removed”, said Justine.
The Transfer Guidelines were created through industry collaboration to assist PEXA users with completing timely and smooth online settlements. Essentially, they are a list of steps which outline each party’s responsibilities as the online Workspace progresses. As Justine explained, “just follow the bouncy ball”.
Not only does Justine confidently complete transactions through the PEXA platform, but also uses PEXA Projects, a functionality which assists with the processes involved in multi-lot developments. She has found that employing the technology greatly improves lot visibility and enables her to have control of a whole sub-division.
Following Victoria’s 1 October compliance date, the majority of transactions in the state are now completed online. In fact, 90% of property transfers were completed electronically in November. Prior to this change, Justine took the time to sit down and plan how she was going to train her staff.
“This is the biggest shake up the property industry has had in forty years”, said Justine, “but, by the time the mandate rolled around we were already prepared and transacting online”.
Justine suggests that other firms take advantage of 2019’s winter period and use PEXA’s educational materials to train themselves, suggesting a functional diary system as an excellent method to in turn train staff.
“Educate yourself at a comfortable pace, it doesn’t have to be stressful”.