A more competitive market will be created by enabling interoperability between Electronic Lodgement Network Operators (ELNOs), of which there are currently two operating in the marketplace: PEXA and Sympli.
The focus of Landgate’s efforts is to support the introduction of interoperability nationally within the realm of Electronic Conveyancing Network Operators (ELNOs), with the goal of offering property conveyancers the freedom to choose their preferred ELNO for transactions.
Interoperability allows the seamless interaction between different ELNOs, eliminating the need for both parties in a transaction to agree on a single ELNO, thereby facilitating the ability of property conveyancers to exercise this choice.
The reforms also entail the establishment of national enforcement regime for ELNOs and subscribers, to further ensure compliance with the regulatory requirements through a more graduated approach to enforcement, while retaining the ability to terminate operations in cases of severe non-compliance.
In 2022, the NSW parliament passed amendments to the ECNL, mandating interoperability between ELNOs and paving the way for Western Australia. The first interoperable transaction took place in Queensland in September 2023.
At present, Western Australia is taking concrete steps to realise these reforms:
- Work has commenced on drafting the necessary regulatory changes to implement the interoperability framework, aligning it with the Electronic Conveyancing National Law (ECNL) and repealing the Electronic Conveyancing Act 2014.
- Western Australia has chosen to adopt the ECNL to legally enforce interoperability, signalling a commitment to change and fostering competition in the conveyancing sector.
It is anticipated full Interoperability will commence towards the end of 2025; with a national roll out post this date.