PEXA scraps national pricing as its $1 fee dispute drags on
The e-conveyancing giant is passing on regulatory charges to its customers and moving away from uniform national pricing amid a dispute with a NSW government agency.
Property investors and home buyers are facing the prospect of higher transaction costs as the nation’s dominant electronic conveyancer PEXA prepares to pass on regulatory charges to its customers.
PEXA is fighting a decision by its NSW regulator that would force it to absorb the costs of a $1 per transaction fee, and appeared in the NSW Supreme Court last Thursday for a one-day hearing.
While the company has always charged nationally consistent prices to lawyers and conveyancers using its platform, the dispute in NSW has been the catalyst for it to alter that approach.
A spokesperson for the electronic conveyancing giant told Capital Brief “it is always PEXA’s desire to keep a national uniform price, however there may be new costs associated with state-based activities that will be reflected in differential pricing”.
