What we've got here is (a) failure to communicate

2007 New Year’s Resolution

I was thinking what realistic contribution could the major banks make to the mortgage and conveyancing industry that could make a real difference in 2007?

Not unlike most new year’s resolutions, I am giving up cigarettes or I am going to lose 10 kilos such lame resolves get confined to the waste bin for another year.

The great crime the banks repeat ad nauseum and to quote Cool Hand Luke “What we've got here is failure to communicate”.

Communication – or actually the lack of it. That is the problem. And if any of you bankers want to leave a great legacy this is one area you need to fix and everyone would be eternally grateful. I know the State Government’s eConveyancing is on the agenda and is happening but we cannot afford to wait another 10 years for this to kick in.

You can easily fix the problem now.

What needs to be done? – Give lawyers and conveyancers -

1. Online tracking of client’s mortgage status


2. Online booking of settlements


3. Online advice of available funds


4. Online settlement cheque details

That’s it – simple. Think how much more streamlined settlements would become. Your settlement staff could be redployed to deal with the real issues and problems that arise. The frustration of putting law clerks and conveyancers on hold would dry up. You get the picture.

Look at what you achieved when you introduced ATMs and online banking.

The dollar investment in making this one new year resolution happen would be very low and your ROI would be quickly recouped. Maybe you are ready to surprise us and you are all poised to release such a service. Gadens, I understand, has already started down this path and they need to be applauded.

There are a whole lot of law clerks and conveyancers fed up and frustrated with the system.

Law clerks and conveyancers are like Luke slumped in the culvert beside the roadway, the frustrated Captain recovers his composure and delivers the line “What we've got here is...failure to communicate.”, pronouncing his summary judgment of the problem: that it can be nothing more than a matter of Luke failing to understand the one-way nature of the communication that is incumbent on his present demotion in social status.