Six ways to speed up your conveyancing processes
2021 is set to be the busiest year for the housing market since 2007 according to Zooplas’s HPI forecast. With an estimated 1.5 million homes expected to change hands by the end of the year, the workload for conveyancers has hit a record high. Zoopla predicts that transaction levels in 2022 will remain high too falling only to 1.2 million which is still high compared to the past decade.
This means every minute counts and we know it’s a priority for conveyancers to streamline processes and increase efficiencies to effectively manage high workloads, tight deadlines, strict compliance rules, and small margins.
When combined, small efficiency improvements and time-savings have a big impact on overall performance and productivity. Below are six ways you can streamline your conveyancing processes to save time that will ultimately affect your bottom-line and your clients’ satisfaction.
1. Digital signatures
Receive completed and signed documents faster with electronic signatures that remove the inconvenience of printing, scanning, and posting documents to your clients. eSignature platforms, such as DocuSign, provide a quick and effective way for clients to sign and return documents online. 83% of eSignature transactions are completed in less than 24 hours compared to the days or weeks common to traditional methods; so everything from client care letters during the onboarding processes to TR1 forms.
2. Onboarding questionnaires
Speed up data collection processes with an online, secure questionnaire that switches the responsibility of data entry to the client helping to improve accuracy and crucially save time. Pre-built questionnaires, which can be standardised across your firm to ensure the right data is collected at the right time, can be sent to clients via a secure web portal, filled out online and saved instantly back into your matter history. No more rekeying or endless email chains.
3. InfoTrack’s Property Report
Do you currently spend hours drafting your report on titles? Cut this time-consuming process to as little as 15 minutes with InfoTrack’s Property Report through integration with Osprey. By utilising hyper-automation, Property Report extracts data from your matter and creates a comprehensive electronic report on title that is formatted, branded, and editable. The solution not only accelerates the creation of your report but also assures compliance and highlights potential risks with your transaction to support your firm’s due diligence processes.
4. Automated workflows
When core conveyancing processes and tasks are streamlined and automated it provides a solid foundation that speeds up transactions. Automated workflows help you to build standardised, compliant, and efficient conveyancing processes that are followed across your business. This ensures tasks are completed when needed, data is collected and centralised, reminders are set, and client communications are scheduled. Reduce the administrative burden from your team’s processes to speed up and reduce the cost of your conveyancing transactions.
5. Online client updates
Keeping up with chases and updates to clients can take away hours from your day, so having clear, real-time case progression updates online help to remove endless phone calls and emails. Easily send updates to your client’s secure portal so they can view where their transaction is and any outstanding tasks that need to be actioned. It’s a great way to increase client satisfaction too, as they have transparent, accurate data available to them when they need it without the inconvenience of checking in.
6. The Coadjute Network
Providing updates to your clients is one thing but chasing for and providing details to third parties can be painful with so many moving parts. Joining the Coadjute Network through your conveyancing case management software connects you to other conveyancers, estate agents, mortgage brokers and lenders so you can synchronise data, share documents, and connect to HM Land Registry instantly and securely in real-time.
Investing in a future-proofed solution
Your practice and case management solution should work hard for you and be the digital core of your firm that makes it easy to automate, streamline, and manage your firm. Save time today to positively impact your bottom-line and client satisfaction by utilising the digital efficiency-boosting tools in your legal software solution.
If your current software system doesn’t provide you with the right digital tools to maximise your future potential, speak to us today to discover how Osprey Approach is the solution you need to help make running your law firm easier.