Why conveyancers need to digitise
Today’s business world is a fast-moving space and as new technologies, processes and laws emerge, an array of new challenges also present themselves. The conveyancing sector is a notoriously hectic environment and it is important that professionals keep pace with developments.
Digital technologies play a large part in ensuring that clients remain happy with the quality and efficiency of the services they are paying for. This is why conveyancing firms and individual professionals can stand to benefit strongly from digitisation.
In fact, it is not an overstatement to say that clients are driving significant change in the conveyancing sector. Increasingly, they want to be able to engage with professional services online, minimise the number of touchpoints the process needs to keep moving efficiently, and eliminate the need to receive large quantities of documentation via post.
The move towards conveyancing digitisation
By 2025, the HM Land Registry (HMLR) authorities in England and Wales are on board with its plans to streamline the process of purchasing a property.
There is still a lot of work to do here, however, every step taken towards digitisation has the potential to enhance the quality and efficiency of the conveyancing services house buyers receive, which could prevent delays, challenges and additional costs throughout the process.
The advantages of digitisation
As we have already touched upon, digitisation is set to bring an array of advantages to the conveyancing process. Some of the most transformative advantages include:
– More efficient processes
Current steps towards digitisation cover digital identification, deeds signatures, and automated HMLR applications. In fact, the HMLR has registered more than 1,000 digital deeds, which has reduced paperwork and minimised delays for clients applying to lenders for remortgages.
Clearly, each of these elements will have a positive impact on the client journey, but if we want to reduce the average length of time it takes to complete a house move, which currently stands at 18 weeks, it is imperative to digitalise a range of processes, particularly when it comes to the transfer of information between brokers, lenders, and valuers.
– Adopting a customer-first approach
When advanced technologies are leveraged, conveyancing professionals have the ability to monitor each client’s journey and ensure that the specific requirements of each client are prioritised to prevent roadblocks and delays.
Of course, there will still be processes that require in-person, fully witnessed signatures, however, there are many other pieces of documentation that can be fully digitised. Imagine you’re seeking a building survey Oxford. A digital-positive conveyancing firm, such as Sam Conveyancing, will seek to ensure that all related documentation is transferred digitally to all relevant parties thereby keeping the process moving along smoothly and seamlessly.
The future of conveyancing and digitisation
The good news is that there is already a strong movement on a global level that is pushing to ensure the legal sector adopts new technologies and processes that will make a real difference to the lives and experiences of clients. In addition, as clients are demanding increasing numbers of automated systems, the work is already in progress to develop the innovative strategies needed to effect real, positive change.
The conveyancing industry is set to move through a period of significant evolution, with unprecedented levels of change impacting every facet of the business.