Survey reveals data accuracy and speed trumps cost
Today, we have released findings from our industry-wide survey of conveyancers. The survey looks at attitudes towards search providers and perception of value added services. It also explores continuing competency behaviours and gauged sentiment towards industry hot topics, such as cybercrime, anti-money laundering and PropTech.
Download the report here.
The results are fascinating. Although many of the answers are in line with what we were expecting, the survey sheds light on insights that may not have been otherwise obvious.
- When asked to prioritise eight options on what respondents looked for in a search provider, surprisingly cost came in fourth place, with lawyers instead ranking data accuracy, quick turnaround times and an easy-to-use ordering platform above price. Lead generation was the lowest ranked option.
- When considering issues facing conveyancers, cybercrime/ID theft was identified as the biggest concern with 83% of respondents stating they are either "concerned" or "very concerned". 80% responded similarly regarding money laundering/corruption
- 52% stated they are "very concerned" about SRA rules
- Fewer were as concerned about the AI/PropTech ‘knowledge’ gap, with only 17.3% suggesting that they are ‘very concerned’ about this issue
- A growing number of lawyers (28%) are now using search providers’ technology to generate client quotes
- Environmental reports and Drainage and Watersearch reports both topped the list of products ordered via their search providers (confirmed by 95%). AML, ID checks and indemnity policies are ordered by more than a third (37.5%) of respondents
We're pleased to see turnaround times for search providers came out as one of the key requirements, well over price. From our perspective, we excel here and receive positive customer feedback on our response rates and, now that we have the Express search, which returns results within 24 hours in most cases, this provides an even faster option.
The disparity around case management is interesting. What are your thoughts on this? We'd like to continue this conversation, if you would like to direct your opinions to firstname.lastname@example.org.
We're especially glad data accuracy scored so highly, as it has been fundamental to our business growth, and so we can alleviate this particular concern for you, the conveyancer.
If you have any questions, please get in touch with your Regional Manager, or call us on 01782 433270and we will be more than happy to assist you.