The conveyancing industry has been navigating through a period of considerable difficulty, with transaction times increasing from 75 days in 2007 to 123 days in 2023. This surge in time has prompted an in-depth examination of the causes slowing down the market, leading to a clearer direction for necessary improvements in the field.
Better Communication

Central to the concerns of home movers is the need for enhanced communication. Research indicates that 52% of individuals felt that better communication among the key players-estate agents, lenders, and conveyancers-would have significantly improved their moving experience. This underscores a widespread demand across the sector for not only more frequent but also clearer and more effective communication.

Using Technology

The integration of advanced technology stands out as a critical area ripe for development. Despite the industry’s move towards digital solutions, a substantial 74% of conveyancers believe the adoption rate is too slow. Many continue to rely on outdated, manual methods for processing documents and handling transactions. By embracing more sophisticated technologies, conveyancers can streamline operations, thereby enhancing both communication and the efficiency of the conveyancing process.

Transparent and Interactive Processes

Home movers also want greater transparency throughout their transactions. They express a strong preference for being able to interact directly with conveyancers, estate agents and lenders through online portals or mobile apps. These tools can provide real-time updates and facilitate smoother, direct communication, which can help alleviate the anxiety and uncertainty often associated with property transactions. These digital platforms are also ideal for automating routine tasks like Anti-Money Laundering checks and source-of-funds verifications, freeing up conveyancers to concentrate on more critical aspects of the transaction.

Speedier Transactions

Another significant finding is the home mover’s desire for faster transaction times. Nine out of 10 sellers would be willing to pay more for quicker conveyancing. Read more about this on the legal futures website.While the current average is seventeen weeks, the preferred timeline is around eight weeks. This gap highlights the necessity for more efficient processes, potentially achieved by initiating the collection of necessary information earlier in the selling process. Such improvements could reduce the frequent delays caused by ongoing enquiries and information verification. For those looking for easy to understand conveyancing news and information, visit a trusted conveyancer’s news section, such as https://www.samconveyancing.co.uk/news/conveyancing.

The conveyancing sector must adapt to meet the evolving expectations of home movers, who are calling for a more cohesive, transparent, and technologically advanced process. By focusing on these areas, the industry can not only improve the home buying and selling experience but also ensure greater efficiency and effectiveness in its operations. The future of conveyancing hinges on the ability to integrate these changes, creating better relationships and workflows among all parties involved.