Act Now To Protect Your Conveyancing Firm From An Uncertain Future

Act Now To Protect Your Conveyancing Firm From An Uncertain Future

The Royal Institution of Chartered Surveyors warned this week that the UK housing market has a tough year ahead of it.  The organisation reported that the housing market has lacked impetus this year, due to Brexit uncertainty, lack of supply, affordability constraints and the possibility of interest rate increases.

The most recent Market Tracker report from Search Acumen showed a quarterly decline of 11%, from 221,782 in Q1 to 197,921 in Q2.  Some areas of the South East are reporting a decline of up to 15%.

RICS are forecasting overall sales volumes to drop a further 5% next year, a continuing trend it says, “In the past two years sales activity has declined and annual completed transactions remain significantly below the 1.7m high in 2006.”

Amidst much market uncertainty, declining transactions and tougher competition to win new work, Redbrick Solutions clients seem to be bucking the trend.  Analysis shows that their clients have seen a 7.9% increase in transaction volumes this calendar year, when compared like for like to last.

RICS reported that “Given the obstacles in the current market it is anticipated that activity will weaken further.  As sales activity continues to falter, house price growth will continue to fade in the first half of the year, and is expected to come to a standstill by mid-2019.”

As expert conveyancing case management providers, Redbrick Solutions are well placed to support their clients in streamlining their processes to provide an efficient and customer focused service.  Services such as quote and instruct, online document portal and Land Registry e-DRS integration ensure that clients are pro-active in winning more work and completing that work in a more profitable manner.

Redbrick Solutions easy to use conveyancing case management solution has been instrumental in seeing some clients increase their transaction levels by as much as 110% over the last couple of years.  One such client is Marcus Baum, a busy conveyancing firm, based in Essex.  Matthew Clark, Partner says “It was clear to me, that to be able to drive our top line without a significant increase in the operational costs, including salaries, technology was the most sensible way of improving the overall performance of our business.”

 

Martin MacDuff, managing director of Redbrick Solutions comments “We cannot ignore the fluctuating market and anticipate it continuing for a while yet to come but firms should be acting now to streamline their processes, focusing on delivering high levels of client care and on securing new work.”

Matthew concludes “Dealing with many hundreds of cases a month, on a cost per file basis, incremental changes in operational efficiency translate to significant savings on the volumes we handle.  Redbrick’s technology has really given us the ability to operate much more efficiently than was ever the case, and as a result of that we are now more compliant and profitable than ever before.”

So, amid intense competition and an uncertain future how can firms ensure their future success?

Martin says “The majority of the firms we see are mid tier, busy conveyancing firms.  Many of them are using significantly out of date technology that is having a negative impact on their profitability.  Consumer surveys show time and time again that the majority of consumers are not shopping on price, but on service and recommendation.  Our clients are able to demonstrate their pro-active approach by delivering a personalised quote instantly and following them up automatically, giving the consumer confidence in the firms efficient, client focused service.  Once the instruction is won, there are a host of tools and integrations available to ensure our clients deliver against these expectations, resulting in more repeat business and recommendations.  It’s a win-win situation.”

Making good use of technology is going to be key to firms’ ability to compete in the current market, so if you haven’t yet seen Redbrick Solutions now is the time to act.

If you would like to understand more about legal technology solutions and the benefits they could bring to your business, please contact Redbrick Solutions on 01572 770088, or visit www.redbricksolutions.co.uk.

Redbrick Solutions

http://www.redbricksolutions.co.uk/

Redbrick Solutions: Easy to use case management, delivered by experts, for successful law firms

Our revolutionary legal case management solution Redbrick Practice Management integrates case management, document management, reporting, workflow, task and diary functions, compliance and outlook integration all via a user friendly interface with best practice built in. We assist users at every step of the way from the initial estimate through to invoicing the client and collecting monies, producing letters, legal forms, bills and statements in seconds and managing risk via a transparent to-do list visible to case owners with all the third party links you’ll need.

Our secure two-way client portal enables you to share documents and sensitive information safely and effortlessly with your client, whilst our built in reporting module will deliver business critical information automatically to key decision makers and can be customised to suit your requirements.  Our clients range from Top 200 firms to regional multi partner firms, but wherever our products are used, the results are reassuringly the same: we help you handle your matters in as efficient and cost effective a manner as possible.

Redbrick Solutions are delighted to have been awarded ‘Leading Expert In Tech 2017’ by Softec Int, and to still be the only legal case management provider to have achieved the Legal Eye Standard. We work closely with our clients, through user focus groups, to ensure we build solutions that make a real difference to you, the lawyer.

Redbrick Business Intelligence, our back office solution, covers the full spectrum of financial management requirements including; Client and Business Accounting, Billing and Productivity Management and Financial and Analytical Reporting.  The two solutions can be used together to provide one powerful, seamlessly integrated solution delivering everything required by the modern law firm.

Our best in class solutions and service led ethos have resulted in us being the only software supplier to have been selected by the Society of Licensed Conveyancers (SLC) as preferred supplier to its members.  We are also members of the Legal Software Suppliers Association (LSSA).

For further details on any of our products or services please see www.redbricksolutions.co.uk or contact Jo Hodges on 0845 166 2629 or [email protected]

 

1 Comment

  • With increasing use of technology, should not regulators require conveyancing firms to specify their use of it on websites? One for 2019 perhaps?

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