"Whether you are an estate agent or mortgage broker, conveyancing referrals can be a reliable source of extra revenue."
It was an unprecedented year, thanks to the pandemic and stamp duty holiday, and many sought a career change to assist their mental well-beings. The industry was under strain and for those that remained, a backlog was created that was difficult to clear. For online conveyancing networks like The Moving Hub, balancing the capacities of the different firms on their panels was of paramount importance.
Fast-forward to the second quarter of 2022 and the industry feels more at ease. Although house prices remain elevated and demand from buyers is still high, conveyancers have returned to more typical levels of working. This enables conveyancing referrals to once again become a viable option for introducers once more. Whether you are an estate agent or mortgage broker, conveyancing referrals can be a reliable source of extra revenue. Instead of relying on a local firm that may not always be the right fit for your clients, conveyancing panel managers come with a lot of different options.
Let the conveyancing networks do the hard work for you
There are several benefits of using online conveyancing networks for your referrals. Online panel managers often come with their own customer service teams to assist your referred clients. This guarantees you and your clients will receive a higher level of care and support by having a designated team to assist you. This extra layer of support, especially when times are busy and conveyancers can drop the ball on communicating, can be essential to your client’s experience. With multiple firms available to assign to your clients’ transactions to, varied lender coverage is ensured but there are also plenty more benefits.
• Managing conveyancer capacities: One of the biggest benefits of conveyancing networks is they can evenly distribute cases around the firms on their panels. Managing this effectively ensures each firm remains at a steady workload, preventing them from becoming overloaded. This means your clients are more likely to get a better service, as the assigned conveyancer will have the time available to designate to each case. Local firms may take on more than they can handle during peak periods, making the process longer and less enjoyable for the clients as a result.
• Switching cases: Due to having multiple conveyancing and solicitor firms available, panel managers can often provide more solutions than traditional firms. If your client’s mortgage lender changed part-way through the transaction, a high street solicitor may no longer be able to act. Instead of starting from scratch looking for a new firm, an online conveyancing network can repanel the transaction to a different firm on the panel. This will give you and your clients peace of mind that extra safety nets are in place to deliver a better service, no matter what crops up on the conveyancing journey.
• A higher level of security: Security has become a hot topic over recent months, especially within the conveyancing industry. Ensuring there are systems in place to keep sensitive information safe has become a priority for all parties involved. Conveyancing networks often use systems that have been designed with security in mind as they have to be able to store and process lots of personal details each day. Now, more than ever before, they also use their systems to serve as a backup for transaction information. This means if there was ever a loss of data at the assigned conveyancing firm, the panel manager would be able to provide a back up so transactions can still go ahead.
