Few things in real estate frustrate all parties equally like settlement delays. Vendors waiting to move forward with their lives. Buyers desperate to get into their new home. Agents caught in the middle, fielding angry calls from both sides.

I’ve watched settlements fall over for preventable reasons throughout my career. Documents requested late. Finance conditions not met in time. Communication breakdowns between conveyancers. Each delay costs money and emotional energy.

Technology is finally addressing this chronic problem. Here’s what’s working.

The Anatomy of Settlement Problems

Most settlement issues trace back to a few root causes:

Communication gaps: Buyers don’t know what’s needed when. Conveyancers wait for documents that should have been requested earlier. Banks respond slowly to conditions. Nobody has clear visibility into where things actually stand.

Manual processes: Settlement involves dozens of documents, multiple parties, and specific timing requirements. When these are managed through emails and phone calls, things slip through cracks.

Last-minute surprises: Issues that could have been resolved weeks earlier surface days before settlement, creating panic and delay.

Misaligned incentives: Conveyancers get paid at settlement, creating pressure to keep files moving even when proper preparation hasn’t happened. Banks have their own timelines that don’t necessarily align with property transaction schedules.

PEXA: The Foundation

Electronic settlement through PEXA has fundamentally changed how settlements work in Australia. If you’re not familiar with PEXA, it replaced the old paper-based settlement process where everyone gathered physically to exchange cheques and documents.

PEXA’s advantages:

• Visibility: All parties can see where settlement stands in real-time
• Reduced delays: Electronic transfers and document lodgement eliminate physical logistics problems
• Earlier issue identification: Problems surface in the system before settlement day

PEXA is now mandatory for most transactions in NSW and Victoria. Queensland and other states are at various stages of adoption.

The platform isn’t perfect—conveyancers complain about interface issues and occasional system problems—but it’s dramatically better than what preceded it.

Transaction Management Platforms

Beyond PEXA, a category of transaction management tools has emerged to coordinate the pre-settlement process.

What these platforms do:

• Create shared task lists visible to all parties
• Track document requirements and submission status
• Automate reminders for upcoming deadlines
• Provide buyers with clear checklists of what they need to do
• Give agents visibility into settlement progress

Platforms I’ve seen agencies use:

• Realworks Transaction Manager
• Contrax
• Various CRM-integrated options within AgentBox and Rex

The value is in coordination. When everyone sees the same dashboard showing what’s done, what’s pending, and what’s blocking progress, accountability improves and surprises reduce.

Buyer Communication Tools

A significant portion of settlement delays stem from buyer confusion about requirements and timelines.

Smart agencies are implementing buyer-facing tools that:

• Explain the settlement process in plain language
• Show buyers exactly what documents they need to provide
• Track finance approval progress
• Send automated reminders for critical deadlines
• Provide contact information for questions

These tools reduce the volume of panicked buyer calls to agents and conveyancers while improving actual compliance with requirements.

Some agencies build these tools internally using workflow automation platforms. Others adopt purpose-built solutions.

The Finance Coordination Challenge

Bank delays remain the biggest source of settlement problems. Finance conditions, while theoretically meant to protect buyers, often stretch timelines in ways that create cascading problems.

Technology helps in limited ways:

• Digital document submission speeds the information gathering that banks require
• Broker platforms that connect directly to bank systems can track approval progress
• Early alert systems flag when bank timelines are drifting

But fundamentally, banks operate on their own schedules. The best technology can do is identify problems earlier, giving more time to address them.

Agents should build relationships with responsive brokers and lenders, and set realistic settlement timelines that account for actual bank behaviour, not stated policies.

What Agents Can Do Now

Even without adopting new platforms, agents can reduce settlement delays through better practices:

At contract signing:

• Ensure buyers understand their obligations and timelines
• Confirm finance arrangements are progressing
• Introduce buyers to their conveyancer immediately if they haven’t chosen one

During the conditional period:

• Check in on finance approval progress
• Ensure building and pest inspections are scheduled
• Flag any issues early rather than hoping they resolve

As settlement approaches:

• Confirm all conditions are satisfied or waived
• Verify settlement booking with both conveyancers
• Have contingency plans for common issues (bank delays, document problems)

Technology to support this:

• Use CRM task management to track settlement milestones
• Set automated reminders for key dates
• Maintain good document templates for common situations

The Vendor Perspective

Vendors experience settlement delays differently depending on their circumstances:

• If they’re purchasing simultaneously, delays cascade into their own settlement problems
• If they’ve already moved out, delays mean carrying costs and uncertainty
• If they’re relocating, delays disrupt carefully planned timelines

Agents should communicate proactively with vendors about settlement progress, not wait for problems to surface.

Technology helps here too—automated settlement progress updates keep vendors informed without requiring constant manual communication.

The Strata Complication

Settlement for strata properties introduces additional complexity. Strata searches, financial statements, and meeting minutes must be obtained and reviewed. Body corporate certificates have their own timelines.

In NSW and Victoria, strata-specific requirements must be satisfied before settlement can proceed. Delays in obtaining required documents from strata managers are common.

Agents selling strata properties should:

• Order strata searches immediately upon contract signing
• Flag any concerning strata issues early
• Maintain relationships with responsive strata managers

Technology platforms that integrate with strata management systems can help track document availability, but adoption remains limited.

Future Improvements

Settlement technology will continue improving. I expect:

• Better bank integration: Direct data feeds between transaction platforms and major lenders
• AI-powered delay prediction: Systems that flag likely problems based on pattern recognition
• Expanded electronic settlement: More states adopting mandatory PEXA usage
• Integrated identity verification: Reducing fraud risk while speeding identity-dependent processes

For now, the best approach combines available technology with disciplined processes and proactive communication.

Settlement delays won’t disappear entirely—too many parties with different incentives and capabilities are involved. But the worst delays, the ones that kill transactions or create genuine hardship, are increasingly preventable through better technology and practices.

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Linda Powers consults with real estate agencies on operational efficiency, including settlement process improvement. Her 25 years in Sydney real estate included countless lessons learned from settlement problems.