Andy Sommerville, Director at Search Acumen, comments:
“Search Acumen welcomes the decision to introduce price transparency for conveyancers. This is a big step in making the industry more competitive and ultimately serves as a fantastic opportunity to allow practitioners to prove their worth in the marketplace.
“We now expect to see online price comparison services, either operated by conveyancers or a third party, where house buyers can get accurate pricing estimates for the fees they’ll have to pay based on their address. Again, this could be a huge business driver for switched-on firms.
“Competition in the sector has truly begun to bite as hundreds of conveyancers have been forced to close their doors over the last five years. Therefore, it has never been more vital that firms find a competitive edge and ensure they are offering market-leading services.
“Transparency is not just nice-to-have. It will be key to stand out as quality conveyancer.”