UK Residential Conveyancing Consumer Research Report 2019
UK Residential Conveyancing Consumer Research Report 2019 shows solicitors still the clear preferred choice for conveyancing advice, over 90% pay fixed fees, service unbundling for over a quarter.
The latest consumer research findings from IRN Research show that law firms and solicitors continue to be the preferred choice for conveyancing advice and experience and relevant qualifications are what a client looks for most in an advisor. Price is also important but is not the main choice criteria. A majority – 55% – do shop around when looking for a conveyancer.
The Residential Conveyancing Consumer Research Report 2019 is the latest in a series of reports from IRN Research (branded as Orchard Reports) on the legal services market and offering insights into consumer behaviour, perceptions, brand awareness, and opinions. This report is based on responses from 562 consumers that have purchased a residential property in the last two years.
Other headlines from the survey include:
- A majority would go back and use the same conveyancer again if another house purchase or sale arose and this reflects a generally high client satisfaction.
- While online volume conveyancers are being used more their use is still some way behind solicitors and individual licensed conveyancers. DIY conveyancing where individuals complete the process themselves without turning to professional advice is still very limited.
- In a buyer’s market, 41% of buyers paid a price lower than the asking price. Only 18% paid more than the asking price, and the rest paid the exact price asked for.
- Fixed fees were paid by over 90% of buyers. The fixed fee quoted at the start of the process is the final fee charged for almost 6 out of 10 buyers but there are nearly one in four buyers that were charged a final fee that was more than originally quoted.
- Just over a quarter of conveyancing clients have been able to take advantage of the unbundling of services. Over a third have had 24/7 online access to a portal where conveyancing progress could be tracked while access to a telephone helpline was there for around 1 in 5.
And there is much more analysis/results from the 25 questions asked to individuals.
The key themes covered in the report are:
- Executive Summary
- Introduction & Scope
- Residential Property Purchasers: Timing and Profiles
- Paying for the Latest Main Property Purchase
- Sources Used – Finding Properties and Conveyancing Advice
- The Conveyancing Process
- Customer Satisfaction
- Paying for Conveyancing Services
- Purchase Drivers
- Residential Property Prices and Values
- Potential Improvements to the Conveyancing Process
- Market Size and Future Trends
The Residential Conveyancing Consumer Research Report 2019, and the detailed dataset of all survey results with a demographic analysis is available directly from IRN Research, priced at £1,500 (plus VAT). Discounts for IRN Research clients, report purchase only, dataset only, or purchases of extracts.
Through the year, there are other Consumer Research reports on family law, wills & probate, personal injury, employment law, consumer legal services.
Kindly shared by IRN Research