More needs to be done to ensure that the working relationship between estate agents and conveyancers improves, and that means replacing the ‘blame-game’ with collaboration to enable a new future for the industry, according to Ben Ridgway, managing director of iamproperty.
The recent report, ‘The New Normal’, which brings together the views of almost 800 property professionals to identify common issues surrounding property transactions, found that the conveyancing process, and searches were predominantly held responsible for delays across the property transaction last year; owing to sheer volume of transactions, inconsistencies and lack of collaboration.
The report is the latest to demonstrate the delays in the process, finding that historic issues around speed are stalling the industry’s development as it enters a new era following the pandemic.
But Ridgway believes that despite the ‘blame game’ still very much at play, there is real appetite for change from right across the industry.
He said: “The way that the sector has adopted tech led solutions and online services to support their business through the last year has created a real shift for the industry, but it’s just the starting point and we need to go a lot further.
“The move to tech enabled solutions was reactionary for many, but for 2022, it’s time for the sector to look more proactively at long-term investment in tech that works, not just for estate agents, but creating solutions which match consumer demand and expectation and end the ‘blame game’.”
A movebutler survey of consumers launched in 2021 found that 69% wanted the homebuying and selling process to change and 43% blamed their estate agents for delays and communication breakdowns.
‘Searches’ were named as the second greatest delay to completions, with 24% of respondents placing the blame with local authorities.
Ridgway added: “The report highlights that local authorities are a widely accepted slow mover, particularly as demand increases and their capacity doesn’t, but support from the private sector to help involve local authorities in new digital processes should help alleviate that pressure and drive much-needed collaboration.
“We’re encouraging leaders from across the industry come together to help drive much needed change by working as a collective. If there is one thing that the past couple of years have taught us is that there is always room for fast digital adoption if there is a collective need for it.
“Instead of accepting that property transactions will always be slow and the experience fragmented, we can look to change the traditional process to make it work better for everyone.”
Major shift in the way ‘conveyancers and estate agents liaise with each other’
‘We need to end the blame game’
Two paragraphs later….
‘We asked everyone who is to blame for delays and 24% said Local Authorities’
There are so many moving parts and vested interests in the industry that improving the entire system is a mammoth task. As ever, intentions are good but actual answers are lacking.
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It will be fascinating to see what conveyancers and agents say when they attend the ESTAS Forum on 29 March. We’ll be putting the agent/conveyancer relationship under the microscope and looking at practical ways we can speed up the buying/selling process.
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