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

Th The Fu Futur ture e of f eConveyancing onveyancing Off ffice ice of the Re Registr trar ar-Gen General eral

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 2

Th The c e cur urre rent nt st stat ate eCo Conveyan yancing cing take up  Other States pushing forward with mandating Victor toria 31 October 2018 - all eligible dealings in series & stand-alone. Western stern Au Austr trali alia a 1 December 2018 – all eligible dealings in series & stand-alone. Ne New w South Wales 1 July 2019 – all mainstream property dealings. 3

Th The c e cur urre rent nt st stat ate eCo Conveyan yancing cing take up  Dealings already mandated for electronic lodgment in SA » stand alone mortgages » stand alone discharges » refinances  Current statistics 4

Th The c e cur urre rent nt st stat ate Discharg arges es 100% 5000 90% 4500 80% 4000 70% 3500 60% 3000 50% 2500 40% 2000 30% 1500 20% 1000 10% 500 0% 0% 0 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Dis ischarge Paper Dis ischarge Ele lectr tronic Dis ischarge % Elec 5

Th The c e cur urre rent nt st stat ate Mort rtgag ages es 100% 5000 90% 4500 80% 4000 70% 3500 60% 3000 50% 2500 40% 2000 30% 1500 20% 1000 10% 500 0% 0% 0 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Mortgage P Paper Mortgage E Electr tronic Mortgage % % Elec 6

Th The c e cur urre rent nt st stat ate Transfers sfers 100% 5000 90% 4500 80% 4000 70% 3500 60% 3000 50% 2500 40% 2000 30% 1500 20% 1000 10% 500 0% 0% 0 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Transfer P Paper Transfer E Ele lectr tronic Transfer % % Elec 7

Th The c e cur urre rent nt st stat ate Caveats ts 100% 300 90% 250 80% 70% 200 60% 50% 150 40% 100 30% 20% 50 10% 0% 0% 0 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Caveat P Paper Caveat E Electr tronic Caveat % % Elec 8

Th The c e cur urre rent nt st stat ate Summary ary electro troni nic c lodgment ent rates es 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 0% Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Dis ischarge % E Ele lec Mortgage % % Elec Transfer % % Elec Caveat % % Elec

Th The c e cur urre rent nt st stat ate Co Consultati ltation on 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 10

Th The c e cur urre rent nt st stat ate Co Consultati ltation on 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. 11

Th The c e cur urre rent nt st stat ate Co Consultati ltation on progra gram m  Online survey undertaken in August » Open to everyone » 176 responses received from across industry » Thoughtful, detailed feedback 12

Survey feedback - All respondents What is your profession? Do you currently use eConveyancing? Yes No

Survey feedback - Those respondents not not currently using eConveyancing Would you like to use eConveyancing in the Have you previously used eConveyancing? future if your concerns were resolved? Yes No

Survey feedback - Those respondents not not currently using eConveyancing Please rate the effect of further mandating on the following business outcomes

Survey feedback - Those respondents who are 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 - All respondents Should eConveyancing be further mandated?

Survey feedback - All respondents What are your primary concerns about further mandating?

Th The c e cur urre rent nt st stat ate 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 option  Be informed about the policy process and timeframes going forward 20

Th Than ank you k you