Conveyancing is a vital service in the real estate industry. Conveyancing lawyers act as a link between prospective property owners and sellers. Besides, they ensure that the sellers and buyers follow the law when exchanging real estate. As a client, you may have noticed several changes in the conveyancing industry that significantly affect how conveyancers interact with their clients and the quality of services offered. This extract details some of the recent trends in the conveyancing industry and why they matter to clients.
The COVID-19 Pandemic
Although the COVID-19 pandemic presented multiple challenges to property buyers, sellers and conveyancers, it has presented many opportunities that have changed how people exchange real estate. Due to social distancing regulations, conveyancers and their clients have been forced to use online resources such as video conferencing to transact property deals. For instance, sellers can hold virtual home visits. Once they find an interested buyer, they can negotiate the fine print of the purchase through a video call. They also do not have to meet to sign the contract of sale since their conveyancers can draft an e-contract.
The Informed Client
The internet has proved to be a helpful resource in the real estate market. Unlike in the past, where most buyers did not know how to buy property, the modern client conducts due diligence before hiring a conveyancer. Some will even opt for DIY conveyancing. This trend has forced conveyancers to invest in their craft. For instance, they will take professional development courses and seek professional accreditations and create liaisons with real estate agents and government agencies to ensure they have the latest information on the real estate exchanges. As a client, these changes will compel your conveyancer to offer high-quality services.
Value Added And Bundled Services
Modern technology has significantly changed the conveyancing market. For example, a client looking for a conveyancer will find multiple listings on the internet. This competition has forced conveyancer to offer value-added services to ensure customer loyalty. For example, a conveyancer could offer free online consultation to all clients regardless of whether they will hire their services. Other conveyancers provide bundled services. For example, the professional could offer services such as finding properties, handling inspections and property searches that are beyond their immediate scope. Additionally, the growth of the conveyancing market has pushed conveyancers to offer discounts and affordable quotes to their clients. Some conveyancers will even provide free services to vulnerable clients.
The top trends in the conveyancing market include the COVID-19 pandemic, informed clients, and value-added services.