What do property professionals make of “The New Normal”? Find out what almost 800 had to say

What do property professionals make of “The New Normal”? Find out what almost 800 had to say

Available to download now, the latest research from tmgroup, mio and Conveyancing Data Services (CDS) – “The New Normal” report – brings together the voices of nearly 800 property professionals; comparing how different professions are faring in the wake of the COVID-19 outbreak and revealing stark contrasts across the industry – as the report reveals:

 

  • 34% of property professionals blame Conveyancers for delays in the transaction – compared to just 2% who blame Buyers/ Sellers not being ready and a further 1% who blame Estate Agents.
  • More Estate Agents cite reduced fees/ profitability in 2021 than those who experienced increased fees/ profitability.
  • The sad truth about wellbeing – with a staggering number of respondents saying their firm did nothing in the way of wellbeing initiatives.
  • The winners and losers in the switch to working from home, and what will shape the longer term outlook for remote and hybrid working.
  • How and why Estate Agents are ahead of the curve in the adoption of the latest technology.
  • What’s keeping property professionals up at night now concerns around Brexit and the Stamp Duty holiday have somewhat subsided.
  • How ‘better use of technology’ and ‘more digitisation’ are now front and centre in property professionals’ minds.

Click here to download your FREE copy of “The New Normal” report

There’s a real appetite for change

The report findings also capture just how many property professionals now have an appetite for collaboration, simplification and quicker transactions, as also captured in some of the aspirational comments left by respondents:

  • “We really need to improve the communication between Client-Solicitor-Agent in the conveyancing process as this is our biggest frustration”. (Estate Agent Director)
  • “It’s vital we see greater communication between all parties (Estate Agents, Mortgage Brokers, Solicitors) to avoid duplication”. (Head of Residential)
  • “We need to get to a place of centralised communication across all stakeholders.” (Commercial / Real Estate Solicitor)
  • “How great would it be for there to be collaboration between the different sectors involved in a property transaction to achieve a ‘joined up’ approach.” (Residential Conveyancing Partner)
  • “I’d like to see Estate Agents and Solicitors working together to give clients realistic expectations of timescales and process rather than providing mixed messages”. (Legal Assistant)
  • “It would be nice to see Conveyancers/Agents/Clients/Lenders all being kind to one another again!” (Residential Conveyancing Fee Earner)

Joe Pepper, CEO of tmgroup comments:

“It’s increasingly clear that 2021 posed just as many challenges as the immediate outbreak of COVID-19 back in 2020 – just different ones. That’s why we polled the industry again to find out what’s really been happening behind the scenes of yet another unprecedented year. There’s plenty of change still afoot and opportunity to be had, and we sincerely hope you find this report useful as you continue to reassess your business goals in 2022 and beyond.”

Want to find out more? Download your FREE copy of “The New Normal” here. A “first look” at the report was also discussed at a tm:tv special on 18th January 2022. Watch the recording here.

This article was submitted to be published by tmgroup (UK) Ltd as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

tmgroup

https://www.tmgroup.co.uk/%20

tmgroup make the complexities in the property transaction beautifully simple; bringing together over 20 years’ experience as a leading provider of property searches, as well as related data and technology services, to support all connected parties across the chain – including residential conveyancers, real estate professionals, and estate agents – with the latest, innovative solutions to help improve communication, efficiency and collaboration.

Thinking about switching? You’re in safe hands…

To date, tmgroup have successfully processed over 20 million property searches. In addition, tmgroup holds ISO 27001 certification, Microsoft Gold Partner and Investors in People status, ORB (Organisation of Responsible Businesses) membership, and regularly receives great client feedback, including;

  • “The team are unfailingly helpful.” – Marina Wickens, Legal Director at Foot Anstey LLP.
  • “Easy to navigate and very simple to order. I love the choice of searches available. – Jane Stark, Partner at Rainbow Law.
  • “Thanks to tmgroup’s time-saving technology, we’ve significantly reduced the admin time per transaction, and this has helped our team work far more efficiently.” – Arash Dinari, Head of Commercial Property at Wolferstans Solicitors.

If you want to talk through any of the above, please get in touch directly with Martin Manning, Head of Account Management, on 07747 216424.


Key Services

  • Residential Services include: Mapping Solutions, New Build Services, Risk Management, Quote tool, Consumer portal, Post-Completion, and mio Chain View
  • Commercial Services include: Premium, Managed Services, Land Registry Extract, Portfolio Service, Mapping Solutions, Post-Completion, and Risk Management

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Key Contact

Name: Martin Manning
Tel: 07747 216424
Email: [email protected]
Linkedin Acc: https://www.linkedin.com/in/m-manning

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