In a flip of the script, Shane Jacob, AIC National President, has joined us on the 5 in 5 set to ask Marcus industry’s pressing questions.
Does PEXA plan to become a conveyancing firm?; What is PEXA doing to help the banks streamline their settlement processes?; and more.
Find out in this month’s 5 in 5.
- What is the digital conveyancing timeline for TAS, NT and ACT?
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PEXA was created to fulfil the Council of Australian Governments’ (COAG) initiative to deliver a single, national e-Conveyancing solution to the Australian property industry and that’s exactly what we plan to do. PEXA is in active discussions with Tasmania, the Northern Territory and the ACT to bring e-Conveyancing to life in those jurisdictions and hopes to be in a position to communicate timelines to industry over the coming 12 months. Pleasingly, the legislation which enables e-Conveyancing has already passed in Tasmania and the Northern Territory.
- How has the recent 1 July compliance date in NSW been received?
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Prior to 1 July, 85% of all possible dealings in NSW were being lodged electronically which is testament to that market in its early adoption of e-Conveyancing. As a result, the 1 July compliance date passed seamlessly.
One of the most significant metrics we measure when understanding how the industry is embracing e-Conveyancing is our Net Promoter Score (NPS)*.
NPS measures the willingness of members to recommend PEXA to others and PEXA captures this feedback directly from its members via the in-platform feedback tool. As of August, the NSP for NSW sits at an impressive 62 which is a 33% increase on March 2019. *NPS is measured between -100 and +100. A score of 50 is considered “excellent” and 70 is considered “world class”. Apple’s most recent Net Promoter Score is 47.
