Th The Fu Futur ture e of f eConveyancing onveyancing Off - - PowerPoint PPT Presentation

Th The Fu Futur ture e of f eConveyancing

• nveyancing

Off ffice ice of the Re Registr trar ar-Gen General eral

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Se Session ion two wo – the he cur urrent ent state ate

Graeme Jackson Registrar-General

Departme partment nt of Planni nning ng, Transpo ansport rt and Infrast astru ructure cture

Th The c e cur urre rent nt st stat ate

eCo Conveyan yancing cing take up

• Other States pushing forward with

mandating

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Victor toria

• all eligible dealings in

series & stand-alone. 31 October 2018

Western stern Au Austr trali alia a

– all eligible dealings in series & stand-alone. 1 December 2018

Ne New w South Wales

– all mainstream property dealings. 1 July 2019

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eCo Conveyan yancing cing take up

• Dealings already mandated for electronic

lodgment in SA » stand alone mortgages » stand alone discharges » refinances

• Current statistics

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Discharg arges es

0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

500 1000 1500 2000 2500 3000 3500 4000 4500 5000

Dis ischarge Paper Dis ischarge Ele lectr tronic Dis ischarge % Elec

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Mort rtgag ages es

0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

500 1000 1500 2000 2500 3000 3500 4000 4500 5000

Mortgage P Paper Mortgage E Electr tronic Mortgage % % Elec

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Transfers sfers

0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Transfer P Paper Transfer E Ele lectr tronic Transfer % % Elec

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Caveats ts

0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Caveat P Paper Caveat E Electr tronic Caveat % % Elec

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Summary ary electro troni nic c lodgment ent rates es

0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Dis ischarge % E Ele lec Mortgage % % Elec Transfer % % Elec Caveat % % Elec

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Co Consultati ltation

• n progra

gram m

• Initial stakeholder meetings undertaken in

June » Targeted approach » 27 stakeholders » Report published online (see CIB 315) » Some common key questions and concerns

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Co Consultati ltation

• n progra

gram m

• Common questions and concerns

» Fraud & online security: rity: risks associated with unauthorised access to Workspaces. » Impacts acts on jobs and businesse esses: s: anticipated efficiencies reducing business and job opportunities. » PEXA: A: service capabilities; system capacity and outages; and, provision of advice on serious issues. » Delays ys caused ed by financi ncial l institutio titutions: ns: failure to follow guidelines in relation to timeframes. » Practitione ctitioner r trainin ining and education: tion: more education and support needed. » Value e to custome tomers: rs: client perception of value for money from the eConveyancing process. » Additional tional ELNOs: Os: interoperability; choice of ELNO; regulation concerns; and, transparency of fees.

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Co Consultati ltation

• n progra

gram m

• Online survey undertaken in August

» Open to everyone » 176 responses received from across industry » Thoughtful, detailed feedback

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Do you currently use eConveyancing? What is your profession?

Yes No

Survey feedback - All respondents

Survey feedback - Those respondents not not currently using eConveyancing

Would you like to use eConveyancing in the future if your concerns were resolved? Have you previously used eConveyancing?

Yes No

Please rate the effect of further mandating on the following business outcomes

Survey feedback - Those respondents not not currently using eConveyancing

What are the primary benefits of eConveyancing?

Survey feedback - Those respondents who are currently using eConveyancing

Please rate the effect of further mandating on the following business outcomes

Survey feedback - Those respondents who are currently using eConveyancing

Should eConveyancing be further mandated?

Survey feedback - All respondents

Survey feedback - All respondents

What are your primary concerns about further mandating?

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Today’s forum

• Your questions answered
• Voice your perspective on the pros and

cons of eConveyancing

• Examine options for the future
• Identify, and indicate, your preferred
• ption
• Be informed about the policy process and

timeframes going forward

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Th Than ank you k you