Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Latest


Must Read


PM Tech Startup Growth Sales Marketing Industry Buyers Agent

Startup


Buyers Agent


Our Events


Real Estate Business Awards 2021

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

LEARN MORE
VIEW ALL
top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.

First online property transfer a milestone

By Staff Reporter
27 November 2014 | 1 minute read

Australia has set a new benchmark in the transfer of land titles, completing the first full online property transfer, including automatic lodgement and settlement.

The transaction occurred through Australian e-Conveyancing platform Property Exchange Australia (PEXA), who earlier this month rolled out the online property transfer system in NSW.

The milestone transaction, between Paul Denny Conveyancing and Smart Choice Conveyancing, occurred yesterday in NSW, setting a benchmark for the way property will be transacted in the future.

Advertisement
Advertisement

PEXA chief executive Marcus Price said, “With change of this magnitude, it takes pioneers to lead the way so it’s great to have innovative market leaders like Paul Denny Conveyancing and Smart Choice Conveyancing out there doing exactly that.”

Smart Choice Conveyancing licensee Carolyn Booth said, given the opportunity, she would use PEXA for every conveyancing transaction.

“We will definitely be inviting our counterparties to transact with us through PEXA," Ms Booth said. “I think this is a significant move forward for the conveyancing profession and the greater economy. We’re proud to be involved.”

Paul Denny echoed Ms Booth’s sentiments, saying the introduction of electronic settlements is singularly the most significant advancement in technology to benefit the conveyancing profession.

“This heralds a new era where the problem of things going wrong at the last minute, with catastrophic consequence for those vendors and purchasers simultaneously trying to move house, will be almost entirely eliminated."

The online transfers mean that clients need only submit a single authorisation form, then all documents are digitally signed by the conveyancer on their behalf.

Full PEXA functionality is live in NSW and arriving soon in Victoria.

First online property transfer a milestone
online
lawyersweekly logo

Feeling burnt out? The newest event to hit the industry, REInnovate, is a must-attend for serious real estate professionals facing the pressures of a heavy workload. Get ready to walk away with the undeniable structure for success, efficiency and profitability, and get yourself back on track to focus on what’s really important for your business. Get your early bird ticket now.

Tags:

ABOUT THE AUTHOR


Listen to other installment of the Real Estate Business Podcast
top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.