Threats and opportunities in a free market
Australia’s competition watchdog will not get directly involved in a stalemate that threatens to delay opening up the eConveyancing platform to competitors, as it’s not the relevant regulator.
For the past decade, conveyancers have used digital provider, PEXA to settle properties on behalf of home buyers and sellers. PEXA operates as a monopoly. A regulator has been established to promote a competitive environment that drives efficiencies, cost-savings and innovation in the e-settlement space.
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