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.
Whether you’re working from home or overseas, we recommend the following when using PEXA outside the office.
Take your laptop
When using PEXA outside of your usual environment, we recommend you use your own device because:
Unfamiliar devices, such as a hotel’s computer, might not havethe level of virus protection necessary to comply with PEXA’s Subscriber Security Policy to protect you and your clients.
Your own device should already have signing software downloaded, an unfamiliar device will not. As a result, you’ll have to download and install the software onto the new device – which may not have the correct level of protection.
2. Do not use public WiFi
We recommend you use your mobile as a hotspot (or purchase a 4G mobile router). This will provide you with a safer connection online.Check with your mobile carrier as data roaming charges from mobile devices may apply.
Public WiFi– whether it’s at your hotel or at McDonalds - is easily compromised by hackers and your personal information can be obtained.
Disconnect your DigiCert from your computer when no longer accessing PEXA
Do not leave it unattended or in a public place
Keep it in a secure, lockable location (unless you are taking it with you)
4. Use MFA via the smartphone app
Multi-factor authentication (MFA) via PingID gives PEXA Members an extra layer of security as theyare required to provide both a password and a one-time passcode when logging into PEXA.
When out of the office or overseas, the PingID smartphone app works best as it provides the code instantly. A code via SMScan sometimes be delayed if your mobile phone service is limited or disrupted.Further, if you’re travelling overseas and have not enabled roaming, you’ll still receive your authentication code if your phone isconnected to the internet.
5. Getting help while you’re away
PEXA Support Centre is available by phone on 1300 054 515 between 8.30am – 8.00pm AEST/DT. You can also e-mail the team at email@example.com. If you e-mail outside of operating hours the team will respondthe following business day.The e-Conveyancing Community is another excellent resource you can access for help online via firstname.lastname@example.org.
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 email@example.com.
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 firstname.lastname@example.org
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].
In this edition of Practitioner Spotlight, learn more about Tamara Grant, PEXA's developer specialist in Queensland, as she shares her market insights and knowledge of PEXA Projects.
How long have you been working at PEXA and what role did you start in?
Tamara: At the end of this month, I will have been at PEXA for one year. I started as a Practitioner Specialist, and about five months ago moved into the Projects Specialist Role.
How did you become a Projects Specialist?
Tamara: Projects and developments are a huge part of the Queensland property market, and for me it is an area I had experience in before my life at PEXA, so it was a role I was very excited to be offered. As the Queensland market grows, the Queensland team needs to be able to support our members with Projects and it’s exciting to be a part of that process.
What is a key driver for you in your role, what motivates you?
Tamara: Seeing the results for our members at the end. Asking lawyers and developers to “change” is a huge trust leap and being able to support them through it and see the growth that happens along the way really keeps me motivated to continue helping our members. The changes that are occurring within the property industry are inevitable and it’s both exciting and rewarding to be a part of it.
As a PEXA Projects specialist in Queensland, how do you see Projects delivering benefits in the market?
Tamara: Queensland as a state is undergoing substantial economic growth and development with new infrastructure, property development and growing levels of interstate migration. The uptake of electronic settlements in a market with a large amount of development keeps us up-to-date with our neighbouring states and enhances the efficiencies and processes for all parties involved – lawyers, developers, banks and buyers. From something as simple as paying GST instantly, to the complexity of arranging 100+ settlements on the one day – the benefits are enormous.
The Queensland market is progressing in its adoption of digital settlements - how do you think Projects is helping advance the uptake of electronic transactions?
Tamara: I think in a state where electronic settlements aren’t compulsory – the uptake is driven by those who see the most benefit in the change, and that is always developers and their lawyers where they are working on large numbers of lots at one time. When the practitioner market sees that developers want electronic settlements, it acts as a catalyst to give electronic settlements a go themselves and be able to provide that service and build future business opportunities from there.
Do you think the collaboration between developers and law firms on a platform like Projects helps drive efficiencies?
Tamara: Absolutely. Some of the most efficient working relationships I’ve seen using Projects has been where we have had the opportunity to show both the lawyer and the developer how the system works. From there they have had a clear idea of what information and communication is needed to make it work as efficiently as possible. It’s great to see and I look forward to seeing the Queensland market progress this year.
If you’d like to get in touch with Tamara, you can contact her @tamaragrantor at Tamara.Grant@pexa.com.au.
Now in its second year, the PropertyX Awards recognise the achievements of those driving transformation within the digital settlement landscape. Award categories include practitioners, panel law firms, developers and financial institutions.
If you would like your firm to be recognised for its achievements, make sure you complete your submission by 5.00pm Wednesday 3 April 2019 AEDT.
Last month we sat and had a chat with Jeff Stevens, life member and past President of the AIC National and a significant contributor throughout the journey to digitise property settlements. He runs a specialised property practice in Adelaide, Stevens Partners, where we caught up with him and the team to talk PEXA.
Welcome to the second edition of the Practitioner Specialist Spotlight. This month, learn more about QLD team member Morvanna Jones and hear her thoughts on the year ahead for e-Conveyancing.
How long have you been at PEXA and why did you join the team?
Morvanna: I have been at PEXA for three years! I joined because I have a conveyancing and training background and I could see the potential of e-Conveyancing – I wanted to be a part of it.
Which part of Queensland do you look after?
Morvanna: I am based in Far North Queensland.
What do you enjoy about working with members of the Queensland network?
Morvanna: I get a lot of love from my job, it’s amazing how many hugs and sharing of special moments that the relationships I have bring. One of the highlights is when a practitioner becomes proactive in using PEXA and shares their excitement about their completed settlement.
How would you describe the current outlook of e-Conveyancing in Queensland?
Morvanna: It’s very positive. I can see in FNQ particularly that practitioners are being very proactive by getting themselves registered and starting to transact. They are speaking with their peers and encouraging them to start using PEXA as well, so the pool keeps getting bigger. The goal to progress e-Conveyancing in Queensland in 2019 is well and truly on track.
How does e-Conveyancing benefit regional firms and is this helping drive growth?
Morvanna: There’s a lot of electronic settlements between FNQ, Brisbane and Gold Coast firms. This volume is increasing and making a massive difference to the growth of e-Conveyancing in Queensland. For example, a remote firm, Bolt Burchill Tranter – Mossman, uses PEXA, as having to drive for paper settlements is very time consuming and costly for them. It’s firms like this that are pushing for electronic settlements because it will allow them to grow their business.
If you’d like to get in touch with Morvanna, you can contact her @Morvannaor Morvanna.Jones@pexa.com.au.
Welcome to the Practitioner Specialist Spotlight! This is a new initiative to help introduce you to our wonderful team in Queensland. Each month we will sit down with a guest to discuss their e-Conveyancing thoughts, tips and tricks.
Our first team member under the spotlight is Daniel Arnfield.
How long have you been with PEXA?
Daniel: I’ll have been at PEXA for three years in April.
In which region of Queensland are you based?
Daniel: Mainly Brisbane’s CBD, but I also work with practitioners on the Sunshine Coast and Gold Coast.
Why are you passionate about e-Conveyancing?
Daniel: My role combines technology and the opportunity to really help people and firms within the industry. This in turn allows me to form strong relationships with the people I work with. We are currently in a very exciting time as the industry is completely transformed and I’m glad to be part of that transition.
When working with practitioners, what do you love to see?
Daniel: It’s great watching the progress that a practitioner makes with PEXA. Their development, increasing confidence on the platform and the peer to peer engagement are really building the industry. Queensland is beginning to create a supportive network and it’s nice to see other firms encourage those that aren’t yet online.
What tips do you have for practitioners in Queensland?
Daniel: PEXA encourages feedback from its members on the improvements they want to see, and I urge members to share their thoughts – this allows PEXA to continually advance the platform for everyone. I also recommend that practitioners use Community and get involved with the discussions that occur there. The forum has so many educational resources and helpful guides to enhance your transactional experience.
We are excited to announce that this week is PEXA Training Week! Take advantage of the quieter period by educating yourself about PEXA and its processes. During the week, we will be posting educational materials on our social pages. Be sure to follow PEXA on Facebook, Twitter and LinkedIn for updates.
If you would like any specific educational materials to be shared, please comment below.
2018 has been a huge year for the e-Conveyancing Community and with today being the last day of the year for many of us, I thought it would be a good time to look back.
There's a lot of new display pics in Community this year - 2,880 new members joined us so we're nearly double the size now!
There were over one and a half million page views and between monitoring PEXA workspaces for the Total Funds Required, or for a Mortgagee to finally sign off , you've spent 737,031 hours here in Community... I wonder who's getting that bill. .
You've made 5,461 posts - most of those were by @DMc of course and somehow we've had 83,146 unique visitors, just in the last 6 months.... can't tell if that's because we have such an interesting Community or if there's a bot-net setup to like all of @EmilyBilling's posts 853 Emily! I'll never catch her at this rate!
It's been great as a Community Manager to sit back and see so many of you answering questions for your peers, helping each other through this digital transformation. I'm really proud that Community has become a space where we can collaborate, come together and work through problems; it's was very cool to see banks working with one-another and competing firms offering each other advice.
We started our first Super User program, recognising the extra effort some of our Community members do to help others and the time they spend here.
For those of you who made it, we loved having you here in the Melbourne office - clearly I can't paint, my poor frog looked like it was dribbling green goo, but it was a great night and fantastic to put names to everyone's faces.
We'll be running our Super User program again in 2019 and inviting new people. One thing we'd like to do differently is have a Community nominated Super User. More details will follow in the New Year so keep an eye out when you get back from the Summer Holidays.
Our Super Users Program won't be the only new thing in 2019 - there's a lot of new features on the roadmap for the start of next year - new banner images, a new group launching for Queensland, a new Webinar page and a new page for our Super Users are just a couple of thing on the board.
That's it from me, I'll be off Rock Climbing and Kayaking over the holidays, @AnnaHardie is about to set off on her adventure around the world (we're hoping she'll make it back next March) and @EmilyBilling's having a staycation (which I think technically makes her the one on call ).
@Josh_McCutcheon and @IsaacK from our support team will be your Community Managers over the Christmas period and they're really excited to be looking after your Community - so be nice!
Have a wonderful Christmas everyone, looking at the PEXA transaction volumes over the last few weeks I think everyone deserves a good break!
From Conveyancing to CATS; a chat with Nick Xenides
Nick Xenides and Daniel Roesler
Q: When did it all kick off for you in the industry Nick?
A: My conveyancing career started back in 1985, when I joined a firm called Robert Northcott & Associates. Soon after several firms, including Northcotts, amalgamated to form Optima Conveyancing where I remained for the next 17 years. I was then invited to form an association with Bernie Lewis Home Loans assisting with settlements for their HomeStart agency, and that was the beginning of BLHL Conveyancing.
Q: How did you come to be involved in conveyancing software?
A: I had previously been using a software package called Domain, which was OK but not so easy to use. There was a lack of comprehensive or user-friendly software for SA conveyancers and since I had programming experience, I decided I would write my own software package. I created the first version of what came to be called CATS, in 2005. I had no intention of turning CATS into a business venture, but a few conveyancers heard about it through the grapevine and wanted to see it for themselves. With the help of Kel Watson who handled the technical aspects of installing the system, we suddenly had a base of 6 firms using the package. The word spread and before long the AICSA expressed an interest in partnering up to deliver it across the market.
Q: How does CATS look at present and into the near future for people?
A: We catalogued a lot of the feedback from the past couple of years which indicated a desire to move to a cloud-based system, giving customers an improved and updated platform on which to run their business. We think it’s competitive with any other offering and is a tried and trusted system for running files and trust accounting. We’re now able to offer integration with PEXA and are about to launch an update with Microsoft Office integration as well.
Q: What’s the biggest change you’ve witnessed in your time in the industry?
A: In conveyancing, it’s the rapid rate of changes brought about by new legislation such as Capital Gains Withholding, GST Withholding, ATO Clearance Certificates, stamping procedures etc. I feel that so much responsibility has been shifted from government service providers to the individual conveyancer. At the same time conveyancers have had to ensure there was no reduction in quality of service to their clients. The pace of change may prove too much for smaller practices. We are already seeing senior conveyancers retiring early as a result.
In technology, we had already experienced some of the biggest changes with the introduction of SAILIS & the Revenue SA portals. PEXA is just another digital transformation our profession needs to go through, and soon there will be competitors to PEXA as well. Unfortunately, due to the discounting culture that exists in SA, it is difficult for conveyancers to properly compensate themselves for these extra duties and responsibilities.
Q: What are your personal views on the digital transformation of the property industry?
A: I’m happy that the industry has begun to move in this direction, and it’s ultimately the change we’ll need to embrace. To hasten this change, perhaps the settlements room could be abolished or phased out, thereby making paper settlements a deterrent and the online way more appealing. Digitisation is inevitable. It’s the future. It’s coming and there is no use pretending otherwise. The sooner we embrace the digital platform, the easier it will be when, rather than if it is made mandatory.