HQF Lawyers

Brett Mason-Smith

TODAYS AGENDA

9.40am Welcome & PEXA update 15 mins Brett Mason-Smith & Ian Hendey

9:55am Practitioner Perspective 15 mins Joe Welch – Hickeys Lawyers

10:10am Practitioner Perspective 15 mins Carol Taylor – Taylor Law &

Conveyancing

10.25-10.55am

MORNING TEA 20mins

11.00 Your trust account and PEXA Video 10 mins Video by Bill Hourigan – QLS

11:10 am Financial Institution update 30 mins Marijana Markovic

11:40am Panel Q&A Session 30mins Hosted by Brett Mason-Smith

12:00pm Close – Listening post open

Chief Practitioner Services Officer, PEXA

PEXA Update

Ian Hendey

How is PEXA’s platform transforming the industry

PEXA’s platform is transforming the industry

7 © Property Exchange Australia Limited (PEXA) 2017.

PEXA Snapshot as of August 2018

Over $203 billion

worth of property value settled

Over 1.5m+Property transactions

completed

~7,032Practitioner Firms

RegisteredAustralia-wide

~150Financial Institutions

Australia-wide

50%+ of all

lodgements are digital

via PEXA nationally

8

PEXA’s operational infrastructure to Support the Network

Hickey Lawyers

Joe Welch

Practitioner Perspective

Presenter: Joe Welch, Partner

Level 6, Corporate Centre

Bundall Rd & Slatyer Ave

Bundall Qld 4217

Phone : +61 7 5556 7400

www.hickeylawyers.com.au

Paper VS Pexa

�My background

�Not legal advice

Paper VS Pexa

What changes in the process?

� When did Hickey Lawyers start using PEXA?

� February 2017- March 2017

� Why not earlier?

� Why not later?

Paper VS Pexa

� Why did Hickey Lawyers start using PEXA

� Competitive cottage conveyancing

� NSW conveyancing and mandate

� Simple process / no one is late for settlement / less settlement risk

� Client property developers

� FOMO

� Don’t leave till the last moment – at your own speed

Paper VS Pexa

� The transitional changes required for Hickey Lawyers internally

� PEXA attended and internally trained staff

� MPR & Client Authorisation (multifactor authentication)

� Initial conveyancing letters – authorization

� One on one training / conveyancing staff and Partners

� Troubleshooting training

� Trust accounting

Paper VS Pexa

� The benefits using PEXA� GST and CGT Withholding� No physical settlement

� Not having to send staff out to draw or deposit bank cheques

� Documents are lodged electronically via PEXA

� Same day registration� Less people to attend settlement

� Same day money transfers

Paper VS Pexa

� Can’t see us going backwards

� NSW & VIC mandate

� Business Case

� PEXA is user friendly

� Change is as good as a holiday

� Rip off the Band-Aid

Queensland Law Society

Your trust account and PEXA - Video

Bill Hourigan

INSERT VIDEO

Financial Institution Update

Marijana MarkovicExecutive Manager – Financial Institutions, PEXA

Financial Institutions Summary

• 155 + Financial Institutions Australia-wide registered with PEXA

• Familiarise yourselves with the Industry Guidelines

• Financial Institutions are Integrated; Workflow and Payment Integration

• The industry working together to ensure an efficient digital process

Transform Together

• Bank readiness for mandate timelines

• Proactive Invitations

• Banks supporting escalations and settlement booking lines

• Member Feedback

25

Payout figure no later than 10am day of settlement

Movement of settlement date and time

Loan funds loaded 10am morning off settlement

Conversations response time & utilizing the

workspace checklist

Transfer Guidelines

Banks Supporting Practitioner Market

Panel Session Q&A

Thank you for attending