02 Jul 2021

Vicki Philipoff Settlements offers staff approximately $2,000 in PEXA Group Limited (ASX: PXA) shares amidst potential boom in property settlements.

Vicki Philipoff is offering PEXA shares to employees as part of a reward and retention initiative.

Western Australia’s largest property settlement agency, Vicki Philipoff Settlements, has exclusively offered approximately $2,000 in newly listed PEXA Group Limited (ASX:PXA) shares to each of their permanent staff members.

The new initiative comes at a time when the Australian property market is set to experience major growth and company director, Vicki Philipoff, wants to ensure that members of her staff can take advantage of this exciting opportunity.

The decision to offer shares as part of a rewards package is based on providing employees with assets that can appreciate over time. This incentive is a way of rewarding loyal employees for all of their hard work and dedication over a difficult past 18 months. VPS is committed to the ongoing support of all their permanent staff and intends to use this share offering as part of a long-term strategy to recognise their existing and continued service, as shares will become vested to employees as of February 2023.

What is PEXA?

PEXA, which is an acronym for Property Exchange Australia, is a platform that enables financial settlements to be completed via a digital workspace. Settlement occurs electronically by sending instructions to the relevant financial institutions that are involved in each transaction. The system forgoes the need for clients to physically submit documents, such as bank cheques. 

Furthermore, the digital platform enables registered conveyancers, lawyers and financial institutions to enact the relevant procedures in achieving settlement. The PEXA platform streamlines the settlement process resulting in fewer expenses, increasingly efficient processes, convenience and reduces the risk of manual errors which causes delays in settlement. Presently, PEXA accounts for approximately 80% of total property transfers in Australia and is the market leader in digital property settlements. Vicki Philipoff Settlements is currently using this dynamic platform to service it’s clients, and will continue to do so whilst it remains the most cost-efficient means of settlement.

The future of PEXA and Vicki Philipoff Settlements.

The property market has bounced back strongly since the lows of mid-2020, with growth catching up and recovering. Growth is predicted to continue rising throughout the rest of 2021 and these gains are expected to be reflected in an increase in work in property settlement. Many analysts are anticipating that PEXA will receive a substantial financial windfall from new growth forecasts. In preparation for this influx of work, Vicki Philipoff Settlements is rewarding employees with $2,000 worth of PEXA Group Limited at the IPO value ($17.13) for their continued contribution to the firm throughout this busy period. 

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