Search Acumen on track to double its conveyancing search market share
Search Acumen is on track to double its share of the conveyancing search market and hit its 5% target by its second anniversary. Mid-year trading data shows the company’s share of search activity leapt to 4% in the six months from October 2014 to March 2015, having stood at 2.5% at the end of its first year in business.
Search Acumen was set up to deliver a ‘step-change’ in conveyancing searches, and its accelerating growth shows more firms are taking advantage of its innovative use of technology and proactive customer service.
Its mid-year figures also show how Search Acumen has maintained its service focus under the greater demands of a growing market and a higher volume of orders. Of the 6,000 cases that required action by its customer service team in Q1 2015, just seven (0.1%) resulted from clients calling up to chase an overdue search order – compared to an industry norm of 5-7%.
On the other hand, nearly four in five cases (79%) involved Search Acumen’s team proactively spotting and dealing with potential queries or issues before they affected customers – helping them focus on their own clients by avoiding delays, interruptions or extra hassle.
Search Acumen’s second year of business has already seen it add to its products and services with the launch of Title Intelligence. This online tool scored an industry first by using a live feed through to Land Registry ‘big data’ on property boundaries. It allows conveyancers to visualise and validate property locations on a map when ordering searches from Search Acumen: helping clients to avoid common yet time-consuming mistakes when identifying the right property.
Further launches are planned for 2015, drawing on its ‘IntelliSearch’ approach of combining in-depth industry knowledge with innovative use of technology to create more ‘intelligent’ search products. These aim to save time for conveyancing firms, increase their productivity, improve quality control and lower their operating costs.
Andrew Lloyd, managing director of Search Acumen, said:
“It is very important for us to maintain our high service levels, and rapid growth will never be seen as an excuse for a drop in standards. Search Acumen was set up to combine the best that technology can offer with the benefits of human experience and a personal approach to service. It is very rewarding to see more recognition of this approach and to help more conveyancers provide a better service to their clients.
“The election result should bring a sense of continuity to the property market and focus minds on building for the next phase of growth. We are excited to continue our development plans and challenge the search industry status quo. Conveyancers should do the same by asking if their existing service gives them the same level of support.”
Marianne Smith, conveyancing and marketing assistant at Chubb Bulleid Solicitors, said:
“I genuinely assumed all search providers were the same, but Search Acumen has proved me wrong. All the help and support we receive makes it feel as though their offices are only five minutes away and they only have our business to consider.
“Moving to Search Acumen’s platform was completely hassle-free and more companies should realise the potential value in working with them. We recommend you switch now: your clients and staff will thank you for it.”
Associate News is provided by Legal Futures Associates.
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