Land Use Victoria's Paul Major speaks candidly about the Victorian e-Conveyancing network's progress towards a fully digitised industry.
Today, 90% of all lodgements are completed online in Victoria. This is set to increase as we cross the 1 August 2019 milestone, as scheduled by Land Use Victoria, which will bring the state closer to that magic 100% mark. It’s safe to say the Victorian e-Conveyancing network has made significant strides since its first practitioner transaction, a caveat, back in 2014.
From its humble beginnings, Victoria has now firmly established itself as a national leader of the industry’s digitisation.
Land Use Victoria’s Paul Major has been a key figure in the market’s progress from the early days and speaking on the eve of the latest transition, Paul notes that establishing a shared vision from the outset was pivotal in helping mobilise a network-wide transformation.
“Right at the start, we engaged with the banks, the peak bodies – Law Institute of Victoria (LIV), Australian Institute of Conveyancers (AIC), the State Revenue Office (SRO) and PEXA, to establish what it was we were setting out to achieve. We got some clear acknowledgement on what the aim was and what we saw as being the clear milestones we wanted to put in place and then how we would communicate this as we ticked along.”
“That was an essential ingredient to fostering collaboration and it was invaluable in getting everybody to understand that we’re in this together.”
From industry webinars to PEXA Community live Q&A sessions, Paul and Land Use Victoria have aimed to be accessible to the network, an approach which Paul believes has been critical.
“I think showing a visible face and presence really did reinforce that we were there to support practitioners. It’s one thing to put information out but it’s another to stand behind it, explain it and give people an opportunity to ask you questions and clarify things in their own mind.
Looking forward, Paul feels that the benefits of digital settlements will be there to see for consumers and practitioners alike over the next 12 months.
“I expect to see continued evidence of process efficiencies and the good news stories from the end customer in what this offers them. Buyers can become the owner on title and sellers will have money in the bank, all in the blink of an eye.”
“The electronic way has closed these gaps immeasurably and provided the end customer with something that they can truly see and benefit from immediately. It’s a game-changer in all honesty.”