In June next year, I will have been working in and around conveyancing for 50 years – half a century! I really enjoyed the first 20 or so years of my 30 years at the “coalface”.
However, sadly, conveyancing is no longer what it was. In a recent survey, only 39 out of 202 conveyancers said if they were an aspiring lawyer today they would enter the conveyancing profession: a depressing 20%.
As those of us of a certain vintage will know, conveyancing back in the 20th century was on the whole quicker, and less stressful. When you think about all the tech developments that have taken place over the last half a century, one has to ask why we are where we are, in the conveyancing doldrums.
Beth Rudolf, Director of Delivery at The Conveyancing Association, recently argued that the Digital Property Market Steering Group (DPMSG) deserves the industry’s support and, to a degree, I agree.
However, I question whether the majority of conveyancers really now want a new HM Land Registry-led group that has been “formed to drive crucial digital transformation in the land and property market”, which has four working groups that will focus on:
- Public commitment: Joint conference on Digital Property Market in 2023
- Removing barriers and empower members to drive change: Upfront information
- Research and Development: Embracing the disruptor of a digital identity scheme
- Increasing transparency: Advocating for data initiatives – exploring interoperability
The recent survey I referred to above asked the straightforward question: “What do you currently see as the key issues facing residential conveyancers?” The top five issues were:
- The Building Safety Act
- Mission creep
- HMLR delays
- AML/compliance burdens
- Low fees
Followed closely by:
- The standards of some conveyancers and conveyancing
- Referral fees
- The standard of enquiries
- Professional Indemnity Insurance costs
Only 25% of respondents thought that the lack of upfront information (UFI) was an issue. As a great believer in UFI myself, that disappoints me personally, but I hear what those at the front line are saying. Do all of the organisations in the DPMSG, though? Do we need to get the basics right before embarking on yet another tech mission?
I will be attending the official launch of the DPMSG on the 12th September along with 299 other invited guests that will include “estate agents, surveyors, conveyancers, financial, software providers, data providers, panel managers, Proptech, and other groups key to driving change”, and I hope that any new initiatives announced or discussed will be music to my ears, the ears of the audience, and of conveyancers up and down the land.
Whatever the outcome of the launch, I will offer my support and the support of the Bold Legal Group, however I do hope that we don’t end up fixing the wrong problem at the wrong time.
3 Responses
The wrong problem at the wrong time is precisely what this is about. The tech companies make all the noise and so get listened to, however a property transaction is a legal transaction and that is precisely what has been overlooked and undervalued for too long.
Putting the legal bit first would make all the difference.
There is a case for looking urgently at the serious issues in conveyancing today and it is an imperative. Unfortunately this is a total hodge-podge of the wrong people. When those of us actually doing the conveyancing with all the problems we have to battle against every day, are asked our opinion and suggestions for the future, then there might be some improvement. Until then this steering group is really a sticking plaster on a gaping wound.
Keen to hear your suggestions David?