In light of a recent study by Smoove, which found that 49% of UK homebuyers consider conveyancing the most stressful part of the home-buying process, our founder, Eddie Goldsmith, is calling for a major shift in the industry. The research highlights a long-standing issue that Eddie has been observing since he started as a conveyancer in the 1970s.
Eddie’s message to the industry is clear: it’s time to stop thinking like it’s the 19th century and embrace a new, more effective approach.
The Three Pillars of Change
Eddie proposes a three-pronged approach to solving these issues:
- Prioritize Human Resources: Conveyancing is often a “strange and unfriendly” process for customers. Eddie argues that firms must have enough staff to guide clients through the transaction. While technology is useful, it can’t replace the value of a human connection. Providing excellent, personal service will always pay dividends in client satisfaction.
- Use Technology Wisely: Technology like Digital ID and Source of Funds apps are valuable tools, but they should not be used simply to increase caseloads without a corresponding increase in staff. This approach, Eddie warns, only makes the problem worse. There is a maximum realistic caseload for any conveyancer, and exceeding it leads to poor service.
- Charge What You’re Worth: Eddie argues that the current fees for conveyancing (£400-£500) are far too low for the importance of the service provided. He believes that higher prices would allow firms to relieve financial pressure, improve job satisfaction for staff, and invest in the resources—both human and technological—needed to provide the high-quality service clients deserve. As Eddie says, “Top-line vanity is often bottom-line insanity.”
A New Path Forward
Eddie believes that a proper balance between work volume and income is essential for success. By investing in people and charging a fair price for a vital service, the conveyancing industry can move into the 21st century, reducing client stress and improving the experience for everyone involved.
At YouConvey, we are already putting these principles into practice. By offering a first-of-its-kind collaborative conveyancing service, we empower homebuyers with a unique online portal to handle administrative tasks, saving them weeks of stress and filling out endless paperwork. This allows our expert panel of conveyancers to focus on the legal work they were trained for, while our dedicated Home Mover Advisors provide personalised, 24/7 support. The result? Our customers complete their moves on average 44% faster, proving that a smarter, more human-centric approach is the way forward.
In the News:
