I’ve interviewed a couple of dozen conveyancers over the last six months about their biggest pain points. In no particular order, these three points are raised time and time again:
- Disruption from phone calls – mainly agents and clients progress chasing.
- Lenders dictating policy and tightening their panels.
- Ensuring staff follow procedures, and measuring effectiveness of procedures.
Doug Crawford CEO of myhomemove - the current market leader - believes that 15% of conveyancing firms will close their doors by the end of 2015. He puts this down to the smaller companies not having the technology and resources to meet the demands of the lenders and MMR.
Not a single conveyancer interviewed mentioned customer acquisition or fear of online conveyancing supermarkets as pain points. Indeed, a few solicitors have said they are turning work down.
Are Doug’s comments a little overdramatic, or could an upturn in the market be disguising significant changes are coming?