We have just celebrated our 100th online PEXA transaction. We currently sit at number three on the top transactors list for SA, and we are proudly the number one Law Firm in SA transacting online.
Since its launch in July 2016, SA conveyancers and Law Firms have welcomed the PEXA platform with the most pleasing aspect being the number of smaller and regional firms embracing the new technology.
The property exchange, allows lawyers and conveyancers to electronically lodge Land Registry documents. It will take the place of the old system of attending settlement at the Land Titles Office and physically swapping documents.
‘The online exchange will eventually do to conveyancing what going electronic did to the stock exchange. Johnston Withers is very happy to be at the forefront of this move. Lawyers have a reputation of being stuck in their ways, but we are very keen to embrace change – particularly when it benefits our clients.’ said Johnston Withers’, Graham Harbord.
Regional firms embracing this new technology is no surprise to us, it makes perfect sense to lock in a settlement time outside of the “usual” 11.30 timeslot and to not be sending staff or a settlement agent down to the Lands Titles Office.
We are utilising PEXA because quite simply it makes our clients lives easier;
- Our purchaser clients have their transfer dealing recording against the title instantly – safe guarding their right to clear title at settlement
- Our vendor clients get their settlement proceeds as cleared funds in their account same day – gone are the days of waiting for bank cheques to clear!
- Our loyal, referring agents get their commission and expenses as clear funds in their account same day
- It allows more flexibility in relation to when we can settle – a house is vacant and the purchaser is ready to move in, why make them wait until 11.30 when we can settle at 9.30?
PEXA is always increasing scope and we can now transact with transactions that have encumbrances and applications, that previously would of seen the transaction revert to paper. In So in the not too distant future, we can confidently state that eConveyancing will become the new norm.
In our office we choose to transact online wherever possible and as a regional firm, the benefits are great. Our systems are built so that we, as the practitioner, can decide to transact using eConveyancing or in traditional paper form. Our clients rely on our knowledge and professional expertise, so we use our specialist knowledge to decide which platform is the most efficient to process their transaction.
Ensuring our clients’ needs are met and that their property transactions are attended to professionally, efficiently and with minimum stress to the client, remains our number one priority. Embracing eConveyancing by using PEXA has enabled us to take our client services to the next level.