During 2022 a number of our staff either bought or sold property. This provided us with some first hand feedback on the experiences of engaging with Conveyancing Practices.
Armed with this small glimpse, we took it upon ourselves to call many more firms across the country to see whether our staff were unlucky, or whether this was indeed the state of the industry.
We are full of empathy, and sympathy, for busy businesses who are struggling to keep up with the demands of clients and the huge pipelines that need to be worked on, with phones never ceasing to ring and email inboxes full of demands. However, it is very dangerous when front line conveyancing staff become well practiced in appearing not to want any more business, and failing to deliver a great first impression; let alone a quote.
The shocking facts were that:
98% of firms failed to ask for the business during the first call.
90% of firms made no effort at all to build any rapport with the caller.
6% of the firms called failed to send any quote out at all.
The experiences of engaging with a conveyancer had been a poor reflection on the industry and we wondered whether business owners were aware of, or even had the time to review, the situation. We hope not, unless they themselves were happy to be turning business way.
Myself and my business partner Mike provided market insights for conveyancer business many years ago. They were extremely well received and led to bespoke training being delivered as well as helping businesses to increase their fees, whilst improving first impressions and their 'sales' abilities to capture more work from inbound enquiries and winning more profitable introducers.
With the market predicted to take a downturn in volumes in 2023, we believe that there is a space for us to begin to provide some expert resources to help firms to continue to grow or at least sustain a decent volume of work coming through the doors.
To begin to improve, firms must first have an honest appraisal as to how they currently perform.
How do prospective customers perceive your service?
How much are your competitors charging?
What do your introducers think of you?
All of these questions are business critical when you are looking to keep the lights lit in tough times, unless you are wiling to go cap in hand to the panel managers and take in low margin work just to keep yourselves active...we are not convinced that is the direction that many wish to go, but what are your options?
Conveyancer Insights is here to help those firms that wish to retain control of their futures and make the most of the market ahead. We are experienced in business development activities for conveyancers and feel that 2023 is the time to provide that support once again.
Whether you need more volume, less volume at higher fees, new introducers, better introducers, to refresh your approach to winning new business or just understand your status quo, then we are here to help.
Get in touch with us at insights@propertysearchesdirect.co.uk
or call us on 0333 090 9187 opt 4
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