You may be aware that 12 months ago, PEXA introduced Peer-to-Peer ratings to the network. As part of this, upon completing a PEXA transaction, you may be prompted to provide some feedback on how easy you found that transaction to complete. The short survey involves giving the parties you worked with on that transaction a score between 0-10, to rate how satisfied you were in working with them. These scores contribute to their overall Peer-to-Peer Rating.
Ultimately, we’re all focused on common goals – to facilitate settlements that are executed seamlessly and to deliver the best outcomes for home-buyer and seller clients. Peer-to-Peer ratings are being championed by PEXA to reward those firms who are exhibiting the values and behaviours that contribute to an optimum experience for all.
How do I achieve a high Peer-to-Peer Rating?
Peer-to-Peer Ratings are all about working together with your colleagues. Here are some tips on how to achieve a strong score:
Communicate: ensure your peers are up-to-speed with settlement progression – the conversation tool in the Workspace is one way you can do that.
Transfer Guidelines: these are designed to encourage a smooth settlement for all. Through member feedback, we’ve identified Total Funds Required to Settle (G11) and Payment Directions (G17) as major pain points for all parties. Keep an eye on these two guidelines in particular.
Support: one of the best aspects of working digitally is the collaboration possible, especially in the current environment we’re in #togetherapart. Seeing firms go above and beyond to support one another is incredibly uplifting!
Recognising our top performers
PEXA has recently launched a recognition program that celebrates the firms that have been identified as leaders by their peers. Each quarter, we’ll announce the top ranking firms by Peer-to-Peer rating. These members will be awarded a certificate to recognise their achievement.
Here is the full list of our inaugural winners and a few happy snaps of them receiving their certificates - congratulations!
BROWN & PROUDFOOT LAWYERS (VIC)
BYTHERULES CONVEYANCING (QLD)
COLIN BIGGERS & PAISLEY (National)
DOMAIN LEGAL (NSW)
DUFFY ELLIOTT LAWYERS (NSW)
HWL EBSWORTH LAWYERS (National)
KEY CONVEYANCING SERVICES PTY LTD (SA)
KEYPOINT LAW (VIC)
ROBERTSON HYETTS (VIC)
SARGEANTS GLEN EIRA & MONASH (VIC)
Robertson Hyetts (VIC)
Duffy Elliott Lawyers (NSW)
bytherules Conveyancing (QLD)
We encourage you to keep an eye out for the next set of Peer-to-Peer awards and if you have any questions, please reach out to us.
Many of us are adjusting to remote working at present, with the PEXA team no different. Our Head of Information Security @DavidWillett shares his best-practice tips for working from home, including routine patching and updating of your software, as well as utilising supported operating systems where possible.
Two of our industry’s inspirational female leaders, Kristan Conlon, Partner at McCullough Robertson Lawyers and Patti Eyers, CEO at FMS & First Title, join PEXA’s Jess Caire to discuss challenges they’ve faced and their thoughts on what we can do to achieve equality.
Bettina dropped into the PEXA office to chat with Glenn about the environmental benefits of electronic settlements, Maddocks' plans for an end-to-end conveyancing process and Glenn's focus for the next 12 to 18 months.
What better way to kick off 2020 than with a look at the future!
Partner at HWL Ebsworth, Michael Mammen and PEXA Group Executive, James Ruddock discuss what 'the utopia of conveyancing' looks like, what developers expect from the online settlement process and how national consistency could benefit the market from a large law firm perspective.
A big thank you to all of our members and extended network who shared their industry wisdom, opinions and experiences with us on 5 in 5 this year - Thomson Geer, HWL Ebsworth, Goldfields Group, AIC National, Cornwalls, NAB, Hunt & Hunt lawyers, Gadens, BOSS Conveyancing and CXINLAW.
Here are some of the many highlights from 5 in 5 in 2019.
Join Lisa Dowie, PEXA Chief Customer Officer and Carl White, Director and CEO of CXINLAW as they discuss customer experience (CX) in the legal industry.
CXINLAW works with law firms and other legal providers to deliver the perfect client experience. In this month's 5in5, Carl shares his view of the role technology plays in CX, the importance of your staff's experience and to top it off, Carl gives some easy tips for viewers to kick start their CX journey.
If you have any CX questions for Carl, please post them below - he's ready and waiting to answer your questions.
The new Settlement Summary FSS is in a limited pilot from November 11. We have listed the three main changes to the settlement summary below. If you are participating in this pilot and require further clarification or have any questions please reach out to your account manager or PEXA representative.
Coming soon, the next episode of 5 in 5. Hosted by Michael Mammen, Partner at HWL Ebsworth who discusses digital conveyancing on a local and national scale from a developer's perspective with one of his most valued clients, Marco Gattino, Director at Goldfields Group.
Can you guess what they're talking about?
Post your guesses below...
Michael Mammen, HWL Ebsworth and Marco Gattino, Goldfields Group
We know that change can sometimes be a difficult thing to embrace, and the more prepared you are, the higher the likelihood of you feeling comfortable with a new process. Therefore, when your firm decides to embark on the digital settlement journey with PEXA, it’s important that it is set up for success. Done correctly, your firm will be more able to smoothly adapt to changes that come with adopting a new process. Below, you’ll find a handy guide to help those new to PEXA that experts may also refer to as a checkpoint.
1. Setting up user profiles
The first and only user PEXA will set up for your organisation’s profile is a Subscriber Manager. Subscriber Managers have the highest level of access in PEXA, and the Participation Agreement provides that every Subscriber must have at least one.
There are two other user types in PEXA – 1) Subscriber Administrators, who have certain administrative rights below the Subscriber Manager, e.g. can add or remove Users; and 2) Users/Signers – the latter having signing rights. Access more information here about these user types. These will be set up by the Subscriber Manager.
When a User first accesses PEXA, they will be required to set up both their password (we recommend a minimum of ten characters, and a mix of upper and lower case letters, numbers, and special characters) and two security questions. These security questions will be used by our Member Support Team to authenticate users when they call requesting assistance. It is important that neither one’s password nor the answers to their security questions are shared.
Every person in an organisation who is required to access PEXA must do so via their own User profile. Sharing of User profiles is prohibited by the e-conveyancing legal framework.
Unless an exemption applies, only ‘natural persons’ may have a User profile, which means that teams, divisions, and those who ‘job share’ cannot share a User profile.
Note that Users must regularly log in to PEXA to maintain their profiles. Users who do not log in to PEXA for 100 days will be considered ‘inactive,’ and will have their profiles suspended. Should this occur, Subscriber Managers may reinstate their access. Access frequently asked questions on inactive Users here.
2. Securing your access with Multi-Factor Authentication
Following the establishment of their profile, a User will be required to set up multi-factor authentication (MFA) using their mobile phone. Further information about MFA can be found here.
When logging in to PEXA, Users will be required to enter a one-time passcode following their password. This password can be received via SMS or a smartphone app.
For Users who intend on accessing PEXA via multiple devices (for example, both an office and home computer), or will be using PEXA whilst abroad, it may be preferable to use the smartphone app. More information here.
3. Digital Certificates
A firm can have as many Signers as required, subject to regulatory requirements and the firm’s internal policies.
Every User who has authority to sign in PEXA must have their own Digital Certificate and PIN. Sharing of Digital Certificates is prohibited by the e-conveyancing legal framework.
The following signing activities occur in PEXA, and should be considered when planning who in an organisation requires a Digital Certificate (ensuring that there are a sufficient number of persons with signing capability in place for employee leave, etc) –
Signing of land registry instruments – this permission should only be assigned to people who are permitted to sign land registry instruments (please note, each jurisdiction has different rules governing this, more information here)
Authorising the use of trust money – this permission may only be assigned to someone who is on record with a Subscriber’s bank as being a trust signatory, and their name in PEXA must perfectly match the name recorded by the bank
Activating new Users after they have been created
Authorising corrective payments, in circumstances where incorrect account information has been entered into PEXA and a settlement payment rejected
4. Standard Operating Environment
Information about minimum system requirements and supported browsers may be found in PEXA’s standard operating environment here.
For the best and most effective access to PEXA, it is recommended these requirements be followed.
When proceeding to sign the Lodgement Instructions, if there are Mortgages or Caveats on title in the Workspace, and there is no associated Discharge of Mortgage or Withdrawal of Caveat, a banner will display within the Lodgement Instructions panel on the signing page. The alert advises the user to review any existing claims or encumbrances on title before proceeding.
This does not prevent you from proceeding with your Workspace to Settlement and Lodgement but does act as a helpful reminder.
We are currently planning for this feature to go-live as part of PEXA’s next platform deployment on 7 September. If you have any questions about this functionality, please reply to this post.
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.
Beyond the Subscriber Security Policy which provides security requirements for our members, PEXA highly recommends the use of new app PEXA Key for the secure exchange of source account details and vendor bank details, removing the vulnerabilities associated with email. Further, PEXA has a dedicated Security page on the e-Conveyancing Community for PEXA members to stay up-to-date with PEXA’s security announcements, to raise security concerns and learn business tips to stay secure online.
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.
PEXA is actively working with Landgate on this matter and are ready to assist Western Australia in increasing scope. At present, Landgate has a number of technical priorities to assist in the introduction of competition in the ELN market. Once that work is complete, it is likely focus will return to broadening out the volume of transactions that can be completed online.
PEAK Bodies continue to be central hub for PEXA members to stay up-to-date and trained on industry and e-Conveyancing changes.
Help articles, free webinars and upcoming changes to the platform can also be found in one central location, on the e-Conveyancing Community. PEXA’s Support Centre is also available to answer any of your PEXA platform questions.
A lot has happened in three years and Community has grown immensely. It now attracts over 25,000 Unique Visitors a month and 160,000 Page Views, has 7,059 members and is still growing everyday with over 150 new members joining in June!
It wouldn’t be what it is today without the help from everyone who uses it, the members who provide feedback, ask questions and the amazing collaborators who provide the answers.
A special shout-out to our Community Super Users who generate a whopping 17% of the content on Community with their posts, answers and discussion. Thank you for being thought leaders and making a positive contribution to the development of e-conveyancing.
@DMc who's posted 506 times, provided 15 Accepted Solutions, liked 1,265 posts and received 441 likes himself!
@TheDoctor 173 Posts, 15 Accepted Solutions, 378 Likes Given and 231 Likes Received.
It’s been a long and rewarding journey managing and building Community a journey which all started with @Anna and @Emily in 2016!
Community is always changing and growing, take a look at our first day:
Now Community looks a lot different, we’re proud to see how much content comes from you, our Users (66% ofposts) and how valuable a tool it has become, not just to PEXA Members but to all industry participants.
Thanks for a great three years, look forward to seeing you all in Community for many years to come.
Lachlan O'Brien, Associate at Hunt & Hunt Lawyers takes on Marcus' role in this episode of 5 in 5, speaking with Alicia Crossett (NAB) and Aidan Brenkovich (Gadens) about the common issues industry is facing, and what the banks and panel firms are doing to address them.
Join Jyh Gusew as he catches up with Marcus Price about Cornwalls’ contribution to the evolution of the PEXA platform, the importance of providing feedback and how industry’s collaboration has evolved over time.
Learn who the Community Superusers are from 2018 and 2019.
Sarah Rizk, Partner at Thomson Geer speaks with PEXA’s CEO Marcus Price and PEXA Project’s expert, @Josh Radford about Thomson Geer’s transition to electronic transactions and what that looks like for a major law firm dealing with multi-lot settlements.
Our Superuser Program recognises the input from our most active and helpful Superusers. We're really lucky to have such a vibrant Community and the support that some of our members give each other is amazing.
Once again we brought the new additions to our Superuser group into Melbourne for PEXA's Open Day. Deciding to change it up this year (so my terrible painting skills didn't get found out for a second time) I opted for a problem solving challenge - throwing the group into escape rooms. Alas, I was no better at this activity and my team didn't make it through - the bragging right's went to @EmilyBilling's team
It was great having everyone in on the Friday morning, hearing from CEO, @MarcusPrice, @lisadowie, @KrystleKocik, @BrettCS, @Marty and many others as they learnt more about PEXA, our focus on our members and the projects our teams are working on.
Thank you all for being a part of it and congratulations on becoming Community Superusers, joining our group from last year:
The Easter Bunny has been overnight and left Easter Eggs throughout Community. There's an Easter message hidden within the eggs and if you're one of the first 3 to uncover it you'll win a bounty of chocolate. Keep your eyes peeled - it's trickier than it sounds! The hunt is on until 5pm Tuesday 16th April and winners will be announced on Thursday 18th April.
Clues will be given each day so keep an eye on this post and subscribe if you want to be the first to know!
Find as many as eggs as you can.
Unscramble the letters to find the hidden message.
There will be three prizes available for three winners. Each winner will be entitled to the following prize:
One chocolate Easter hamper (value is approx. $100).
The prizes are non-transferable, cannot be exchanged and cannot be substituted for cash.
The winners will be the first, second and third entrants to email the correct message to firstname.lastname@example.org.
The winners will be notified at the end of the competition or as soon as reasonably practical, via the email the address used to contact email@example.com
using and disclosing their personal information for the purposes of administering the promotion and advertising the winner; and
disclosing their personal information to the Australian Institute of Conveyancers (‘AIC’) for the purposes of receiving promotional material from AIC regarding the AIC National Conference (including by email).
The Promoter’s decision is final and no correspondence will be entered into.
The Promotion is a game of skill. Chance plays no part in determining the winner.
The Promoter reserves the right to:
disqualify any entrant who submits an entry that is not in accordance with these terms; and
disqualify any entrant who submits an entry which infringes a third party’s intellectual property rights or includes profanity, is insulting or inflammatory or includes defamatory language.
If the prize is unavailable for any reason, PEXA will substitute an alternative prize of no lesser value.
By entering the Promotion, each entrant releases [Instagram / Facebook / LinkedIn / Twitter] from all liability in relation to the competition and acknowledges that the competition is in no way sponsored, endorsed or administered by, or associated with, [Instagram / Facebook / LinkedIn / Twitter].