Right now, conveyancers and lawyers lodge around 80 per cent of all possible dealings electronically in NSW. For more statistics, including a breakdown of subscriber uptake by area code, on our statistics page.
And very soon—by 30 June 2019, you will need to lodge all mainstream documents electronically in NSW. This includes all transfers, mortgages, discharges of mortgages, caveats, transmission applications and withdrawals of caveat.
eConveyancing is a huge digital transformation. It is substantially changing our land title system in NSW. And the way most of you do your business.
The world never stands still. New technology is driving more rapid change than ever before. We like to describe this change as ‘hyperbolic’ change. That is, the pace of change is accelerating each year.
People these days expect to manage their lives around technology. They want greater access, fewer errors, more transparency. It is critical for every industry to keep pace with this transformation.
People often ask me what the Government wants to achieve from the eConveyancing reform.
It is this.
They want reforms that make things better for the consumer. eConveyancing does that.
They want greater security over land titles systems. The value of property rights to our economy is too high to get this wrong. This reform does that too.
And the Government wants your industry to transition smoothly to a digital world—which his why the timeframes have been paced over around two and a half years.
This reform is a chance for all of us to transform NSW’s conveyancing sector into the world’s most efficient and secure place to buy and sell a house.
