The property industry never stands still, and as CEO of NAPSA, I believe it’s vital that sourcing agents and investors remain open to the changes shaping our sector. This week, I had the opportunity, along with some of our NAPSA team, to attend the launch events for PEXA UK in Leeds and Manchester. I left both days feeling inspired, reassured, and even more convinced of the importance of embracing innovation.
Let me share my personal takeaways and why I believe what we experienced is so relevant for every professional in property sourcing.
Keeping an Open Mind: Why it Matters
If there’s one lesson I’ve learned, it’s that having an open mind isn’t just about positive thinking; it’s about adapting to new ideas and being willing to evolve, both as individuals and as a sector. When I saw a post from PEXA’s CEO on LinkedIn, I reached out, curious about how their platform has already transformed property transactions in Australia. That conversation led to our invitation to the UK launch events, and I knew we had to learn more.
What I Learned About PEXA
PEXA has built a platform that has revolutionised how property transactions are completed in Australia, and now they are introducing it to the UK. Their system isn’t just a minor update – it’s a fundamental shift in how key players in a transaction communicate and collaborate:
A Transparent Digital Workspace: Every document related to a property transaction is easily accessible to each authorised party involved. Everyone can see what’s done and what’s still outstanding, in real time.
Secure, Centralised Funds: Lenders and buyers upload funds into accounts held at the Bank of England. This offers security and removes many of the delays commonly seen on completion day.
Integrated Processing: The system connects directly with HM Land Registry and HMRC, so tasks like submitting Title Deeds and Stamp Duty are processed instantly when completion occurs.
Automated Completion: The platform schedules a completion date and, when all criteria are met, everything is finalised automatically and efficiently.
It’s already live for re-mortgages in the UK and, from my discussions, there is a genuine ambition to extend this to all sale and purchase transactions.
Anyone interested can visit and contact the team at PEXA here: https://www.pexa.co.uk
Change Brings Opportunities
Whilst not everyone I spoke to at the events was ready to welcome such a new approach – some voiced reservations. However, it was heartening to see many others acknowledging that our current system isn’t working as well as it could. I spoke to conveyancers who resisted the idea, but also to several from Australia who confidently shared their own positive experiences with these changes. We heard directly from representatives of the Australian Land Registry who highlighted the improvements they’ve seen.
What stood out most for me is the opportunity for professional sourcing agents. A transparent, streamlined completion process benefits us as much as it does buyers or sellers; the fewer delays and the more trust in the process, the better the outcome for everyone.
Our time at the launches also helped us build new connections with supervising bodies, and conversations have already begun about how NAPSA can help improve the process even before the deal reaches conveyancers. I look forward to sharing updates on those collaborations in the coming months.
Staying Ahead: Events and Education with NAPSA
Ongoing professional development is at the heart of what we do at NAPSA. I encourage you to take advantage of our upcoming events, which are designed to keep you informed and confident in a changing landscape:
Compliance over Coffee: NAPSA members can join us on Thursday, 18th September at 10am for an informal session on the two government approved Property Redress Schemes live and recorded for your convenience (access via our private community).
Webinar: The Property Ombudsman (TPO): On Tuesday, 24th September at 7pm, Peter Habert (TPO, Communication and Policy Director) will discuss the main issues that lead to investor complaints, the direction of the sector, and how sourcing agents fit into the industry’s future. This includes a live Q&A for your questions.
Book your free place here: https://education.napsa.org.uk/webinar-the-property-ombudsman
Webinar: Property Redress Scheme (PRS): On Tuesday, 30th September at 7pm, Sean Hooker (PRS Head of Redress) will cover the Renters (Reform) Bill from a sourcing agent’s perspective, with another chance for live Q&A.
Book your free place here: https://education.napsa.org.uk/webinar-property-redress
These sessions are open to everyone, and recordings will be made available if you’re unable to join live.
Looking Forward
I’m excited for the future of property transactions in the UK. Embracing new ways of working leads to better results for us all, and I encourage you to reflect on what changes would improve your experience as a sourcing agent or investor. Please share your thoughts, I’d love to hear them.
Together, by staying open to innovation and supporting each other, we can make a truly positive impact on our industry.
Wishing you a peaceful and productive week ahead.
Tina Walsh
CEO, NAPSA
Like a sourcing consultation call with Tina?
We offer a number of free calls each week to discuss your property sourcing or deal packaging business, to assess any gaps and provide guidance on recommended next steps.
