9 in 10 Sellers are prepared to pay more for a faster conveyancing process.
iamproperty, a business that helps estate agents to succeed, surveyed UK vendors and agents to understand the impact of conveyancing on their transactions. The data revealed that 88% of vendors would be prepared to pay more for a faster conveyancing process that is ‘smoother and more digital’. While 75% of agents say that any new technology would speed up sales and aid, the conveyancing process would be appealing.
The top frustration for consumers when selling a property is the conveyancing process taking too long (50%), followed by “time-wasting” (viewing the property and not planning to buy, 48%) and “wishing solicitors were more proactive” (doing paperwork earlier, 46%).
The data also revealed that vendors are most likely to find their conveyancing solicitor (31%), although Estate Agent recommendations are essential (22%). Getting their property sale ready before it goes onto the market was appealing to vendors, as the benefit of transaction speed outweighed additional costs.
Ben Ridgway, Co-Founder of iamproperty has stated that it has been proven that “tech can speed things up” and has already been working for agents. He says conveyances can “make more improvements to the process”, and “vendors are willing to pay for it.”
Hoowla Conveyance Management Software is a cloud-based system. Based on Ben’s feedback, we’d be able to solve 2 of the most frustrating issues buyers and sellers face when working with conveyancers.
With Hoowla’s automation capabilities, Conveyancers can send out their welcome packs, signable forms and contracts at the push of a button, cutting out the need for manually attaching documents and drafting multiple emails. The automation continues; teams can delegate tasks to each other, pin notes and reminders to specific cases and submit Stamp Duty and Land Registry forms. Not only that, Hoowla has AML integrations with industry heavyweights such as Armalytix.
Conveyancing teams will notice an immediate improvement in their workflow processes, and clients will be surprised to see a difference in how quickly the process can move. Hoowla is one of the only software providers to offer this level of automation in a cloud-based system. Traditionally, some desktop-installed software provided this kind of service which proved to be expensive and static.
With Hoowla, solicitors and conveyancers can maximise their case and client onboarding due to document automation, ultimately leading them to increase their revenue while providing excellent customer service. Their clients also notice a difference in waiting times and can watch the processes, sign documents and answer questions through the Hoowla Client Portal.
If you’re interested in seeing how Hoowla can speed-up and automate your conveyancing team, why not arrange a free, no-obligation demo today?