"In a sign that the industry is beginning to react to mover demand, the use of digital communication methods in the conveyancing market has also increased significantly"
According to research from conveyancing software company, InfoTrack, there has been a notable shift in the use of digital-savvy specialist conveyancers - with 43% of home-movers in the last year choosing one in favour of a traditional solicitor.
The study, ‘Home Moving in the Age of the Consumer’, finds that consumers are shopping around more than ever before committing to a conveyancer. Due to the ease of accessing quotes online, the majority (59%) of home-movers admit they obtain multiple quotes before choosing their conveyancer, up from just a quarter (24%) of those who moved home three years ago.
The ease of obtaining information online has been a key influence on the increasing savviness of today’s consumer. Three years ago, initial contact with conveyancers was commonly over the phone (41%) or face-to-face (26%). In contrast, over half (52%) of today’s home-movers reach out for quotes using online channels, including email (26%) and websites (26%).
According to the data, the influence of online also extends beyond the quotation stage. A fifth (20%) of today’s home-movers are selecting a conveyancing service operating through primarily online channels during the legal side of the purchase, which is significantly more than the 8% who chose a similar offering three years ago. Younger generations are a key driver behind the shift to digital, with a quarter (24%) of home-movers between the ages of 18 and 24 citing an online offering as the reason behind their choice of conveyancer.
Scott Bozinis, CEO of InfoTrack, had this to say: “Home-movers are now being more critical than ever when selecting a conveyancer. The proliferation of digital channels means consumers now have all of the information they need to immediately research prices and compare services to handle the purchase of one of the biggest investments in their lives – a home. This clearly illustrates a need to embrace online channels quickly if conveyancers want to stay competitive in a world of discerning digital consumers who are used to the power of making informed decisions using what is available at their fingertips, when they want.”
In a sign that the industry is beginning to react to mover demand, the use of digital communication methods in the conveyancing market has also increased significantly. Home-movers that have experienced IM and the use of text messaging from their conveyancer has more than trebled to 11%, compared to 3% who moved house more than three years ago. Similarly, those who have communicated with their conveyancer over an online portal has jumped to 15% from just 4% more than three years ago.
Richard Roberts, Lovedays Solicitors, says, “It’s evident from the research that in order to survive in this market, conveyancers now need to utilise the digital platforms that are available to them. Home-movers want to be in regular contact with their conveyancer at a time that is convenient for them. To stay competitive, we’re using digital solutions that not only allow us to work more efficiently, but also enable us to track our progress so we can easily update our clients, ultimately improving the customer experience. We have also enabled our website to be device friendly so consumers can go on the site while on the go.”