The survey, carried out by TM Group, found that 46% of homemovers chose their conveyancer based on their estate agents recommendation. Only 4% of estate agents didn’t have a referral arrangement in place but 78% of agents had arrangements with more than one conveyancing firm.
This should encourage conveyancers who don’t have arrangements in place to approach their local agents but should also serve as a warning to those with arrangements in place – if you don’t deliver on service your agent is quite happy to send the work elsewhere.
Top conveyancing technology supplier Redbrick Solutions are reminding conveyancers how important it is to build and maintain strong working relationships with their local estate agents. Jo Hodges, head of sales and marketing at Redbrick Solutions comments “The conveyancing market is hugely competitive, ensuring you appear on an estate agents list of preferred conveyancers will help to maximise new business and we are experienced in helping clients achieve and maintain this.”
But what can firms do to ensure their position on a list of preferred suppliers?
Interestingly, vendor and agent feedback on their conveyancers differ dramatically, with vendors describing their conveyancer as ‘professional, efficient and helpful’ and agents using words such as ‘slow, uncommunicative and difficult’.
‘This finding is hugely significant’ says Ms Hodges. ‘With so many vendors choosing their conveyancer based on agent recommendations and agents being happy to play the field, now is the time for conveyancing firms to befriend their local agents and demonstrate how they can deliver exceptional service – to the agent and vendor. With 50% of agents choosing firms based on their locality, firms who can demonstrate a commitment to regular communication with both parties are in a strong position. Many of our clients use the ‘track your case’ facility of Redbrick Practice Management as a way to differentiate themselves when talking to estate agency colleagues.’
‘Track your case’ is a powerful tool which allows both vendors and estate agents to keep tabs on the progress of a transaction, any time night or day. There is no need for time consuming phone calls, updates can be accessed with just a few clicks of the mouse and, what’s more, vendors receive automated SMS and email updates when key milestones are reached. Clients can choose which information to show both agents and vendors separately and agents have the added bonus of being able to see updates for all of their active matters in one place and filter them accordingly, rather than having to search for them individually.
‘Track your case’ is fully integrated into Redbrick practice management, so any of our clients can use it to keep all parties fully up to date as a case progresses. Many client firms include the tracking link on their website and choose to have the tracking page branded for their firm, further securing loyalty.
Our business consultants are experienced in presenting the benefits of services such as ‘track your case’ to estate agents along with our client law firms to help them secure new business moving forwards. Clients have reported this to be a great success and are consistently winning more work as a result.’
To find out more about Redbrick practice management and ‘track your case’, contact us today on 0845 166 2629, or visit www.redbricksolutions.co.uk. We would be delighted to show you how our innovative technology can ensure your position at the top of an estate agents’ list of preferred conveyancers.