It is a thought common amongst property buyers today that many conveyancing firms are not responding quickly enough to “21st century mindsets”, leaving consumers frustrated and in the dark about their matters. It said that over half of consumers (57%) thought conveyancing firms needed more customer focus, while 47% wanted more digital communication.
This has led to over a third of home owners being prepared to pay more for a “premium Service” from their conveyancer.
1000 people who moved home over the last 10 years were asked by InfoTrack, (a conveyancing software company) showed that Most home movers saw conveyancing as process driven.
The report says:
“As the housing market slows and movers gain power, changes in consumer expectations around what constitutes a positive experience (and how it’s delivered) are becoming ever more important,”
“It’s therefore a concern that the findings show that the current conveyancing market is often struggling to deliver the personable, efficient and user-friendly service today’s home mover wants.
“…the inflexible, process-focused nature of many firms is harming reputation and recommendation, as people look elsewhere for conveyancing.”
35% of respondents said they would pay more for a service with a premium customer service focus.
People are more readily approaching specialists: 57% of those who bought within the last year used a local solicitor, compared to 73% of those who bought between three and 10 years ago.
Licensed conveyancers were used by 21% of buyers in the past year, compared to 16% three to 10 years ago .Online conveyancers; the figures were 20% and 8%.
This shows that people are more likely to shop around
However, 44% said they find it hard to differentiate between conveyancing firms
Price was not a huge factor (cited by just 12% as a reason for choosing a firm), compared to factors such as recommendation and reputation. Notably, however, offering online conveyancing – important for just 8% overall – was a pivotal reason for choosing a firm for 23% of 18-24 year-olds.
50% of consumers want their conveyancer to take on a more consultative role and provide advice when it was needed.
Read the full report here