The New Era of Conveyancing
During the recently-held Conveyancing Association Annual Conference, much discussion was made about the changes facing the conveyancing sector. The conference highlighted the need for firms to adapt over the next decade, or face losing out.
Paul Smee, non-executive chair of the association, noted that there are currently 4000 firms in the market right now. One prediction has suggested that the number could drop to 1000 over the course of the next ten years. According to Smee, “The nature of conveyancing is going to change dramatically in that time and unless our member firms adopt the right models, they are unlikely to survive the period.”
The changing era of conveyancing.
One of the most successful models that have been identified is the outsourced model. Conveyancing as a whole has seen more changes in the last 15 years than it has in the past 150 years or more. The need for change continues to grow as newer technology and improved processes arise. The digital world has paved the way for many changes, opening up new ways for conveyancers to assist introducers such as estate agents, financial advisers, and mortgage brokers.
The challenge with traditional models is that they often harder to connect the various parties involved in sales and purchases. This often puts a greater burden on conveyancing firms as well as estate agents and other parties. Instead of focusing on the job at hand, a great deal of time is spent following up on paperwork and issues arising from a lack of cohesive system.
At The Moving Hub, we have decided to take a different approach. Assisted by the country’s leading industry experts, we have created a platform that links property professionals with a large team of conveyancing solicitors within the UK. The platform also serves as a fully-functional conveyancing case management system. It also enables the consideration of individual solicitors’ case capacity to avoid overload, with vetting of solicitors and upkeep of strict service level agreements. The result is a far more streamlined approach to conveyancing and a far better experience for end-users.
As the industry continues to adapt and grow, finding new and improved ways for conveyancers to deal with estate agents, brokers, and other parties involved in the purchase and sale process has become more important than ever. Solutions such as The Moving Hub will help to pave the way for such changes, bringing fresh innovation to the industry as a whole.