How To See Your Estate Agent Relationships in a New Light

The conveyancer–estate agency relationship has always been a contentious one. With the client becoming increasingly demanding and ever more impatient, the pressure to progress is only increasing. The root of the problem lies in the competing agendas of both parties. Estate Agents want lightning-fast completions. They are then left frustrated by the conveyancer who methodically works through the case. The law firm will take time to ensure that any and every chance of risk is eradicated, both for their clients and to protect their PI insurance. This lack of alignment is a theme that runs through the interactions of agent and conveyancer. 

The solution? It has to be data. There needs to be data earlier in the process and the data needs to be communicated to everyone throughout the transaction. This is the only way to bring a transaction to an earlier conclusion, whether that’s a completed sale or an aborted transaction. Having data earlier on in the process will also reduce the risks to all parties involved. In this blog, we will take a look at the conveyancer-estate agency relationship and identify why data is key to repairing the connection.

Why is the conveyancer-estate agency relationship fraught?

The relationship is more complicated than ever before. It’s difficult to know where the Estate Agent’s role ends, and the conveyancer begins. It is this overlap that causes some of the conflict. This distant connection has persisted over many years and yet it’s crazy when you think that, both parties are looking for the same outcome – a quick process and satisfied clients. Teamwork is essential to improve this frayed relationship. 

Moving is complex and stressful for the homeowner. The last thing they need is to have tension between the Estate Agent and the conveyancer. Both parties play a crucial role in the process, and they need to work closer together to ensure a smooth and stress-free outcome.  

Coadjute’s Working Better Together report explored the relationship. It found that poor communication and processes are affecting both parties. Each expressed the need to improve transactions. The results of their survey showed that 34% of conveyancers believed better collaboration was necessary to improve relationships, 26% felt mutual respect was required and 24% believed communication was the main issue.

How to nurture the relationship between conveyancer and Estate Agent

What can conveyancers and Estate Agents do to build bridges? Ultimately, they need to work smarter together. Let’s explore some of the ways that can improve the relationship:

Effective communication

Each party has to keep one another informed of developments so that the buyer is always kept up to date. There needs to be fast response times, friendly interactions and a professional approach from all. At times, the Estate Agent can massage the ego of the client, telling them what they want to hear. This can result in the agent making false promises about how long it will take the client to move. When the client realises that the promised timescales are not possible, the conveyancer can be blamed. 

Why are agents making false promises? The reason is likely that the Estate Agent doesn’t fully understand the conveyancer’s processes. They may not appreciate just how long searches can take to come back for instance. The conveyancer has to find ways to better communicate with the agent on how long processes take so that the agent doesn’t over-promise in the first place. Having regular meetings between parties can create a better understanding of each other’s pain points. This will create a shared understanding and help both to work more effectively together. When there is transparency from all, the buyer will then be better informed as a result.

Building trust and mutual respect

Trust is fundamental for a successful partnership. Both parties need to be committed to client satisfaction. Clearly outlining expectations and timelines will cultivate an environment of mutual understanding. Offering open lines of communication, being responsive and simply trusting the competence and expertise of each other’s respective fields is essential.  

The conveyancer’s workload is often stretched but similarly, the Estate Agent feels undervalued and overworked. Adopting mutual respect for one another’s challenges can help to aid in a better relationship going forward. 

Collaborating

Estate Agents and conveyancers need to collaborate better together to make sure everything runs smoothly, and any issues are quickly resolved. This will keep the process efficient with minimal delay. Both roles are absolutely pivotal in the success of the property transaction. A strong bond is crucial when there are changes in property law, fluctuating market conditions and evolving client expectations to deal with. Having a shared understanding can help to navigate hurdles swiftly, ensuring that both parties align seamlessly. 

Client-centric approach 

Both parties need to remember that they are working toward the same end goal. The client requires support from every stakeholder. This can be a concerted effort that will lead to higher client satisfaction and foster long-term relationships that are beneficial to both parties. You need to look at things from the other party’s perspective, as they share the same goals and frustrations. When all is said and done, everyone just wants the sale to be quick, risk-free and to go ahead! 

What unifies all these elements is data. When data is accessible from the outset and at every step of the transaction, it enhances communication and collaboration. Full information empowers each party, fostering mutual trust and respect as everyone remains aware of the process. Moreover, prioritising the client's needs becomes a cornerstone of this approach.

Benefits of a strong conveyancer and estate agency relationship 

• Enhanced client experience 
• Open and clear communication 
• Streamlined processes 
• Faster transactions through information sharing 
• Quicker solutions 
• Trust building 
• Building better reputations 
• Increased referrals between parties 
• Improved market knowledge 
• Prevention of errors and oversights 
• Long-term partnerships 

What can help to improve the conveyancer-estate agency relationship? 

Upfront information

Many big players in the industry such as the Home Buying and Selling Group and The Bold Legal Group are calling for a drive towards Upfront Information. A reintroduction of something similar to the Home Information Pack (HIP) of the early 2000s will help to speed up transaction times. One Upfront Information scheme that is gaining traction is Trading Standard's three-phase project on Material Information. Estate Agents now must provide certain details such as the sale price, tenure and council tax band on their property listings so buyers can make more informed decisions. Whilst phase A has already been initiated, we’re still awaiting news on what exactly phase B and C will entail. It may be that Estate Agents will need to talk to the conveyancer sooner in the process to help compile this information. Trading Standard’s project allows Estate Agents and conveyancers to work more closely together and earlier in the process. This should help to improve the relationship. 

Upfront Information offers a way to speed up transaction times. If conveyancers stop waiting for the Sold Subject to Contract stage and start compiling their transaction packs at the point of instruction, they can hit the ground running. If conveyancers don’t step in to help with the Material Information project, there’s the danger that agents will bypass the conveyancer and just go straight to the source themselves, leaving the law firm in the dark. What conveyancers should remember, is that Estate Agents want to be helpful. They want to speed up transactions. If they can work with the conveyancer to get as much support information done upfront, this will be of huge benefit to everyone involved in the transaction. Improved efficiencies will result in a saving of both time and money for everyone. 

By initiating legal procedures earlier, conveyancers can identify and address possible problems or inconsistencies in advance. They can proactively prevent potential delays down the line. This approach not only contributes to cultivating a more robust rapport with clients by initiating communication from the outset of their home transition but also establishes trust throughout the process. Building a stronger connection increases the likelihood of clients returning for future transactions, as a solid relationship often leads to client loyalty. Ultimately, providing Upfront Information minimises stress in home transitions and ensures a more dependable landscape for property dealings. 

There are tools available on the market to help you with the provision of Upfront Information. Our conveyancing software, Convey Alerts, helps conveyancers to reach out to homemovers earlier in the journey. You will be alerted when your former clients have newly listed their homes for sale. Instead of holding off until the Sold Subject to Contract stage, you can open a file at the time of listing and start gathering Upfront Information earlier. The tool also acts as a solid way to generate conveyancing leads.

Use of technology

Adopting technology can help forge stronger relationships. Client portals can keep each stakeholder informed in real-time of what is happening. Online databases can also provide easy access to documents and legal information, fostering a more informed relationship. Technology can also improve efficiency – and speedier transactions mean happier agents and law firms.  

Set expectations 

As we discussed, having meetings between the parties can help improve working relationships. Conveyancers should visit their local agents to get to know them better and discover how they can work together more efficiently. You can both set realistic timeframes and expectations. This can help to ensure your clients are satisfied and demonstrates the credibility of your company. 

Knowing and understanding the local area 

We mentioned that mutual respect is essential. A well-informed conveyancer is more trusted in the industry. Take a look at our Market Insights tool for instance. This conveyancing software helps law firms gain a better understanding of their local area. You can share these insights with the agent and client to foster transparency and trust.

Communicating better 

The Estate Agent is the first point of contact, and they know a lot of valuable information that they can pass on to the conveyancer so that everyone is on the same page. What would be more helpful and assist in improving relationships is if the agent provides correct and comprehensive information about the seller and property to the law firm. They should explain to the conveyancer why the seller is moving and pass on any timescale expectations to allow the conveyancer to get to know the seller better. They should also highlight any issues about the property that may cause a delay and provide a chain sheet, so the conveyancer understands the position of the property. The Estate Agent could prime the seller as to what information they will need to give the conveyancer. What tends to happen is the homeowner goes into a blind panic, looking for documents when the conveyancer asks. If the agent tells them to gather these documents beforehand, this will help to make the conveyancer's job much easier and prevent delays. The agent could also suggest to the seller to instruct a conveyancer earlier in the process and before the sale has been accepted to speed up the sale. All of these suggestions can help to enhance the relationship between both parties and make life easier for the homeowner.

Conclusion 

There needs to be a unified approach in order to evolve. If collaboration can start right from the initial stage of listing the property and continue right through the conveyancing process, it should make the process more efficient and ensure a better experience for the client. The conveyancer-estate agency relationship needs to be founded on mutual respect, communication and a shared commitment of the best outcome for the client.  

Data plays a pivotal role in restoring and fortifying this connection. The only remedy going forward would be to integrate data sooner and ensure that it is communicated consistently to all involved parties throughout the transaction. This approach should help expedite transactions and mitigate risks for all parties.