The recent upturn in the conveyancing market has meant that many conveyancers are beginning to reap the benefits of change. Charlotte Parkinson of Modern Law Magazine spoke to Dolores Evelyn (pictured), Sales Director at Eclipse Legal Systems, about how conveyancers should be managing growth in a thriving market.
Despite the recent changes to swathes of the legal sector, one area of the market that is certainly experiencing an upturn in work is the conveyancing sector.
So, for conveyancers who are now beginning to enjoy the benefits of the upturn, the question now is how they can manage growth and how they can be prepared to best take advantages of new opportunities in the market.
As well as a general upturn in what has been a tough period of economic downturn, government schemes, such as ‘Help to Buy’ and the offer of 95% mortgages for first-time-buyers, are also beginning to contribute to the sector’s success. While some predict that these new schemes will offer those who have previously struggled to make it on to the property ladder that all important ‘leg-up’, cynics predict they will add fuel to the fire that will ultimately create a new housing bubble, that will, ultimately, burst once again. Whatever happens in the market, conveyancing firms need to be aware and up to date with latest technology that can help them stay ahead of the curve of change.
In the wake of change, for better or worse, conveyancers must always bear their clients in mind and one way for firms to do this is by utilising the best technology. This can enable current and potential clients to easily contact and interface with their solicitor through a variety of channels, including, e-mail, telephone and via skype, as well as enabling them to track the progress of their conveyance, making the overall process smoother and more enjoyable for the client. Another area in which technology can assist is during the recruitment process, as conveyancing firms looking to bring in new staff to growing departments can ensure they remain compliant with SRA regulations.
The real question now for conveyancers is how they can be best prepared and make sure they implement the right systems and processes, to make the most of the growing market and avoid the pitfalls of a potential downfall in the market in future. The sector must now modernise and keep ahead of change and learn how it can become more efficient and make the most of the new legal era.
Dolores Evelyn of Eclipse Legal Systems, comments:
“It has been fascinating to see which conveyancing firms have been able to not only survive the downturn, but come through the other end with ambitious growth plans. There seems to be a real pattern – the successful ones are the firms that have carefully implemented case management technology to keep processes tight, and service levels up. Conveyancing is reasonably low margin, so it is always vital to use systems that cut the fat from processes as well as enable end-clients to feel engaged and part of the whole process.”