A new service designed to provide conveyancers with insight into how their clients, introducers and prospects perceive them has been launched.
The service will provide “extensive market research” for conveyancing firms including looking at local fees, mystery shopping, and client engagement to help firms “fully understand and capitalise on their market.”
Conveyancer Insights is the third brand to be launched by Daniel Hamilton-Charlton and Mike Stainsby, Directors of Property Searches Direct, following the launch of PSD Logbooks in 2022 in conjunction with Twindig.
For commercial director Mike Stainsby, the ambition is to provide conveyancers with evidence based data to help them make more informed business decisions.
“It’s tempting to make changes based on a gut feel, new phone system, technology, glossy brochures but not from facts.”
Says Mike.
“To begin to improve, firms must first have an honest appraisal as to how they currently perform. Whether you need more volume, less volume at higher fees, new introducers, better introducers, to refresh your approach to winning new business or just understand your status quo.”
He warns against the potential for complacency given the significant demand of the last couple of years, with more work than conveyancers have been able to handle.
“Busy conveyancer are struggling to keep up with the demands of clients and the huge pipelines that need to be worked on, with phones never ceasing to ring and email inboxes full of demands. However, it is very dangerous when front line conveyancing staff become well practiced in appearing not to want any more business and failing to deliver a great first impression; let alone a quote.”
And with fees being a major topic of discussion already in 2023 as commentators across the property spectrum encourage estate agents and conveyancers to maintain the increases they achieved throughout 2021 and 2022, Mike points to the need for data and analysis for firms to properly understand their own position.
“Conveyancers need to hold their nerve on fees… difficult to do if you don’t know how you compare on pricing or current service levels. A slow-down gives firms an opportunity to review operations and innovate. We agree – now is the time to take stock and capitalise from service improvements.”
