on 22-11-2019 09:46 AM
It has come to our attention that Agents are no longer accepting the order on the agent from PEXA after settlement. REINSW have advised that agents should be requesting the standard letter with the companies letter head and solicitors signature.
It is no longer acceptable as the notification that they receive comes from PEXA and not the solicitor/conveyancer.
What is the point of settlement online if we are not able to send an order on the agent electronically? Is there something PEXA can do/change so that we aren't required to send a paper Order on the Agent to satisfy the agents requirements?
on 22-11-2019 11:02 AM
Hi Brianna, this may start being an issue in Victoria also.
Currently we set up a Notification to the agent, which is an email from Hunt & Hunt (via PEXA platform) that settlement has taken place, and that they can account to deposit money held in trust to their company in its own right for commission expenses. It is provided to ensure "real time" notification of settlement and facilitate key release.
We have started to get phone calls from agents asking us to confirm settlement has taken place, although they have the email and in one settlement this week, we were asked for an additional letter on letterhead.
Hopefully this won't escalate, as the email notification system works well.
on 22-11-2019 02:23 PM
Thanks for your feedback. We're hearing of this issue more and more.
But rest assured we're working with REINSW and other REIs to determine an electronic solution/process that is acceptable to all.
Our aim is to make preparing and issuing orders on the agent as simple as possible. Going back to the paper process would be a step backwards.
on 22-11-2019 04:12 PM
Agreed why would anyone accept an email as Notice from a third party?
on 11-12-2019 09:14 AM
I too have come across this. Agents have advised that the Office of Fair Trading advised them not to accept notices from Pexa.
My comment is that is is NOT from Pexa. It is VIA Pexa. We create them in Pexa and the name of the firm and address is on the notifications. I have left a message with the Law Society of NSW for their comments.
It is mandatory to use Pexa for conveyance transactions and those notifications should not be excluded from the electronic transaction.
11-12-2019 01:36 PM - edited 11-12-2019 01:39 PM
When you put it like that sounds similar to email campaigns (i.e. Mailchimp), you might need permission & an option to unsubscribe to comply with Spam Act.
I am wondering where this issue is at currently. I still use the PEXA email notification to send the Order on Agent (NSW) but have been met with resistance and have been forced to send the letter separately by email anyway which defeats the purpose. Keen to find out what others are doing.
Wednesday - last edited Wednesday
@srenwick Does this help?
Works for WA Settlements since August, everyone in the industry (including Real Estate Agents, rating authorities, and Strata bodies) AFAIK seems to be accepting the notification and attachment (we do use our Letterhead) and upload to WS notification before Settlement locks down via PEXA.
Maybe once a secure portal is established for delivery of these notifications, that might resolve others concerns...
Yes, as @DMc says there's been the option to attach documents to the PEXA Settlement Notifications for just over a month now. We worked with REINSW on the solution, and they've given it their tick of approval, so there's no reason agents should be requesting a separate letter via email.
Give the attachments feature a go. And if you're still met with resistance, refer the agents to the below REINSW endorsement.
Source: REINSW 'Keeping It Real' Newsletter 9/9/2020 (link)