By Legal Futures Associate SearchFlow
SearchFlow – one of the UK’s largest providers of legal due diligence data for residential and commercial property transactions – has released a new guide that considers the anticipated trends for the residential property industry in 2022 and beyond.
The ‘State of the Residential Real Estate Market’ guide provides law firms and property lawyers with a view on the major themes that will shape the coming year, and offers insights on how law firms can best position themselves to take advantage of the resulting opportunities and shield themselves from potential risks.
The trends include:
- Use of technology – harmonising cutting-edge technology with exceptional customer service to boost the overall customer experience when buying or selling residential real estate.
- Hybrid working – addressing the ongoing balance between client expectations and employee wellbeing.
- Changing demographics – evolving legal services to meet the needs of millennial and Gen Z clients and employees; and
- Climate change – The Law Society predicts legal professionals have a significant role to play in how the world responds to potential climate changes. How can you leverage your own team and suppliers to become socially responsible legal experts?
Dr Thomas Quirke, Managing Director of SearchFlow said, “As the world wrestles with social and climate changes, the legal industry – long seen as a more traditional market – has opened itself up to new possibilities, evolved its working practices and adopted new technologies. Consumers expect a faster, highly secure and more transparent property transaction process. Resilience will come from embracing further innovation, including AI and automated solutions, on tasks that help to free-up professionals’ time to concentrate on more specialist legal counsel, while supporting compliance adherence.
“Our new ‘State of the Residential Real Estate Market’ guide discusses these topics in greater detail and offers our opinion on actionable steps that law firms can take to remain competitive.”
To download a copy of the State of the Residential Real Estate Market guide, visit SearchFlow