Poll: Conveyancing fees in a market slowdown

With mortgage fees soaring, inflation remaining rampant, and the evidence showing a consistent decline in new buyer enquiries, a property market slowdown is certainly on the cards.

Firms and their conveyancers will rightly be asking the question: “what happens to our fees?” Give your thoughts on this question in the below poll

“Conveyancing is now viewed as a commodity and there has been a downwards trend in being cheap,” says the Secret High Street Conveyancer in this week’s column.

Yet, they say the industry must avoid slashing fees and undercutting each other:

“As we enter what may be a lull in the housing market, I think it is important for firms to keep their prices high and promote themselves as offering a professional service rather than lower prices in order to gain work.”

Experienced conveyancer Roger Wilson told Today’s Conveyancer in September that conveyancers are “an increasingly rare commodity”, adding that in a downturn “the profession must hold its nerve on fees and not fall into the price cutting trap of previous downturns”, something reinforced by David JabbariLloyd Davies, and Natalie Moore when asked how conveyancers can prepare for a market downturn.

All answers to the poll will remain anonymous. The results of the poll will be published next week.

One Response

  1. I sincerely hope that there is mo race to the bottom on fees. If there is my firm will not be part of it. We will continue to charge reasonable fees for an excellent service provided to the clients. We will continue to stay away from referral fees and we will continue to only use fully qualified excellent staff to provide our services to the client. This formula has served us well over the last 5 trading years and I see no reason to discontinue our approach.

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