Conveyancers ‘need to leverage technology to keep pace’
Property industry practices need to change fast and help cases complete before market conditions worsen, Search Acumen has warned.
Conveyancers need to leverage technology to keep pace with demand and help cases complete before market conditions worsen, Search Acumen has warned.
The search provider says that the more conveyancers embrace technology and automate more mundane tasks the more they would be able to focus on the parts of the job that require their expertise.
FOCUS
Andy Sommerville, Director at Search Acumen, says: “This allows property lawyers to focus on the parts of the job that require their expertise.”
Compounding the pressures of sustained demand Search Acumen’slatest Conveyancing Market Tracker revealed over a 10-year period the number of conveyancing firms supporting the housing market has reduced by more than 10%.
Sommerville says: “Conveyancers are facing elevated caseloads as they attempt to battle through transactions, with fewer colleagues than they need to keep up with demand.
“Using technology will alleviate some of this pressure, shortening the time it takes to finish a case, allowing each lawyer to take on more cases per year and helping those who are looking to complete transactions before market conditions worsen.”
TRANSACTIONS
Yesterday HMRC revealed UK residential transactions in November at 107,190, less than 1% higher than October this year.
The best way for conveyancers to keep pace is by leveraging technology.”
Sommerville adds: “The realities of the cost-of-living crisis are undoubtedly having an impact on the housing market, with transaction volumes levelling out as we head towards the end of the year.
“Conveyancers are continuing their efforts to get property sales over the line in time for Christmas, addressing the backlog that still stands from a sustained busy spell as a result of the extreme market activity and the pandemic.
“The best way for conveyancers to keep pace is by leveraging technology to assist with the parts of their job that can be automated.”
Andy Sommerville if you look at the comments section of the Law Society Gazette, which I read daily, I think that the 1960’s mentality of many solicitors is the biggest hurdle here.
In reply to a piece recently where the SRA … ‘is in the middle of a sweep of around 2,500 firms to check if they are providing the price and service information required and also that they display the SRA digital badge’ one anonymous solicitor has commented ‘Thank goodness I do not have a website! – that is what is holding back the digital tide.