This year at the AICNSW State Conference, PEXA hosted a listening post next to our barista. The purpose of the listening post was to seek feedback on all things PEXA!
PEXA values feedback from our members and we have been busy reviewing your comments to see how best we can help.
PEXA is a member network that relies on all parties working together to reach a common goal. A combination of system enhancements and user behaviour can assist in providing a better user experience for all members.
Click on the links below to read about what we are doing in response to the areas you told us about. I’ll continue to provide updates in this community thread and I’d love to hear any further feedback you may have.
Working with financial institutions
Working with other practitioners
The PEXA Platform
Training & Support
Happy transacting!
Belinda Le Fevre
Executive Manager, NSW Practitioner Markets
Working with Financial Institutions
The five key areas of feedback about working with financial institutions were
Reverting to paper close to settlement
Each example of this should be investigated by your PEXA Direct Specialist. Depending on the reason, we are often in a position to get the settlement back through the PEXA channel. Direct feedback can then be provided to the financial institution on these occurrences.
Timely input of payout figures, loan funds & signing off on Settlement
An industry working group is being formed to review and update the transfer guidelines. PEXA and FI’s have been reviewing performance against the guidelines regularly in an effort to increase compliance. We are also working on making the guidelines more accessible/visible while transacting in a workspace.
Conversations not answered
PEXA is working on system enhancements to help our heavy PEXA users to better manage incoming conversations. Some of our subscribers are receiving almost 1000 conversations per day! Stay tuned for further information on this.
Some FI representatives can’t settle until after 2.00
This is generally due to the lenders funds not being received by the representative panel lawyer prior to 2:00 on the day of settlement. PEXA is aware of the issue and are working with those affected parties to ensure a settlement time of prior to 2:00 is not accepted in the workspace in the first instance.
Changing settlement time on the day of settlement
This is very frustrating for all parties concerned and has been discussed at length with relevant parties. Keep reporting the examples to your PEXA Direct Specialist to enable us to raise awareness of the issue with members. System enhancements have been implemented to assist such as a “DA sent/received” checkbox and FI’s being able to view the transfer in the workspace. Further enhancements include a Loan Document sent/received tick box and additional payout figure functionality.
The PEXA team are hosting Banking & Practitioner Symposiums in each state, enabling our network members to work together in readiness for the mandates across the country. A key topic for discussion will be the high decline rate of invitations – particularly practitioners who have the highest decline rate in the network.
Working groups are also being established to review the National Transfer Guidelines and a new edition should be available early next year.
The key area’s of feedback about working with other practitioners were around non-participation:
Sydney solicitors not on the system
The NSW PEXA team are working hard to spread the word about PEXA and the upcoming mandates to reach the last mile of practitioners who are not on or using PEXA. Many CBD firms are starting to use PEXA for Developments in the role of Proprietor on Title or Mortgagee on Title. The Incoming Proprietors solicitors and conveyancers are contacted and invited to transact. This is a great way to reach practitioners who may not be PEXA capable yet.
People not wanting to use the system/not on the system
The PEXA team will be hosting a series of roadshows early next year in conjunction with our business partners to create awareness and provide support for the July 2018 mandates (unencumbered transfers and caveats). We continue to enhance the system to make it more user friendly and respond to the needs of the market. PEXA has deployed 15 PEXA Direct Specialists around NSW as well as 2 virtual specialists to assist with our regional clients. We expect to be very busy as we bring the next wave of members on-board and train them to transact.
Feedback about the PEXA platform was categorised as positive feedback or specific functionality bugbears:
Positive feedback
We received some fantastic comments about the platform – thank you. Some were about ease of use, others declaring love for the workspace or PEXA on the whole!
Functionality Bugbears
Caveat address fields – Under review
Order on the agent – we hear you loud and clear on this one! Good news – this is on the roadmap for 2018.
Transfer document un-signing – Specific details to be worked through with the practitioner who gave the feedback
FSS suggested change – a miscellaneous item without date for items - thank you. Excellent suggestion. We are working on getting this onto the roadmap of changes.
Training and Support feedback can be categorised into four areas:
Would like training – our PDS team has been advised for those who requested training and you have been contacted to discuss
Lots of support when needed
Contacting PEXA Direct Specialist, not responding – a new specialist has been assigned to the firm
Wait times too long on support desk – additional support staff have are now on deck and a change to support hours implemented (8.30 – 7.00pm), allowing additional staff during peak periods. Additional self-serve materials on our community website are now available, as well as continued enhancements to make PEXA even easier to use. As always, please call your PEXA Direct Specialist if you need assistance/escalation.
Some of our members requested further training and information about our PEXA Certified Training program and our PEXA Member Logo.
... View more
