Confronting Challenges In The Property Conveyancing Business – Useful Tips
August 13, 2014
If you ask some old timers about the property conveyancing market they will certainly mention that running a conveyancing business has never be so tough. This is because of various reasons. On the one hand, the uncertainties in the real estate industry has increased quite significantly. The main reason is the events that led to the financial collapse of 1998. Many real estate builders of repute have burnt their fingers badly and some also have had to shut shops. Hence, there is always a sense of uncertainty and jitteriness in the market. Secondly, the levels of competition have also increased quite substantially. It is fast becoming a case where there are a large number of service providers who are perhaps chasing the same number of customers. This has resulted in all forms of unethical dealings which is hurting genuine and honest property conveyancers.
Given the above situation, it is therefore important for property valuers to find out new ways and means by which they can take their business to next levels of success. This is easier said than done and call for thinking through the entire process. It might also call for a complete re-haul of the present business processes and practices. For example, today most of the information pertaining to conveyancing and other related matters are available on the internet. Therefore the need of the hour is to ensure that all right thinking conveyancers are present quite aggressively on the internet. The need for offering more value to customers is also becoming very important. For example, conveyancers who are looking at the market 5 to 10 years from today are offering online conveyancing facilities. This is very good value addition that could help such companies to stay tall when compared to competition.
Reaching out to new customers as well improving networking capabilities are also becoming very important. While the internet and other modern technologies like mobile telephony can be quite useful, there is also the need to look at conventional methods of relationship building. This is why it makes lot of common sense to become members of chambers or commerce and other such communities that are closely linked with property conveyancing. This will provide a very ideal platform where issues could be raised. It will also be the right avenue where conveyancers can meet new prospects and share their business with them. Memberships in chambers of commerce can help in showcasing talents and achievement in various forums which could have tremendous impact.
Success Does Not Come Easy In Conveyancing Market
July 28, 2014
There is hardly any doubt that property conveyancing is one of the most important processes and steps that need to be followed whenever a property is being bought or sold. Conveyancing put in plain and simple words is the total of all the activities and steps that should be completed as required under the law. Only when these processes and steps are completed will it be possible to transfer the ownership of properties from one entity to another. Though conveyancing is necessary while transferring ownerships of other movable and immovable properties there is no doubt that it is quite complicated in the case of real estate property ownership transfers.
Though there is a continuous demand for quality conveyancers, when it comes so success stories in this business it could have been much higher. There are quite a few conveyancers whose businesses fall by the wayside within a couple of years. It would therefore be useful if one could take lessons from those who have succeeded in this business. The lessons learnt can be replicated to others which would certainly increase the success ratio over a period of time.
Those who have succeeded in conveyancing business would certainly have built their business on strong fundamentals. They would have not compromise done bit on certain basic principles of honesty, ethical business practices and also having high level of transparency. Further it is also quite likely that they would have totally focused on total customer satisfaction at all points in time. Last but not the least, they would have realized that success in property conveyancing is a long term affair and has to be built brick by brick.
Further, those conveyancers who have seen success over the past few years would certainly have made very intelligent and efficient use of modern day technology. Hence, all those aspiring and ambitious conveyancers should understand the need to be present on the internet quite aggressively. They should be a part of the various social networking sites apart from having a useful and informative website of their own. They should even go a step further and try and offer online conveyancing to their customers. This will certainly be a game changer andwill help improve networking and also for better relationship building across all levels.
How To Be Successful In The Property Conveyancing Market
July 23, 2014
Running a successful conveyancing business is not the same as it was a few years ago. There are many reasons for it and increased competition and changing business practices customer buying habits are also responsible for this. However, this does not mean that there are not scopes and opportunities in this line of business. As long as homes, apartments and commercial constructions take place and as long as people and entities continue to buy and sell properties, the demand for conveyancers will be there. However, the onus lies on the conveyancing companies to find out ways and means by which they can overcome competition and find answers to the new questions posed by modern day customers.
First and foremost as a conveyancer we have to understand that in spite of changing customer behaviors, buying patterns, changes in technology and other such factors, the basics of business still continue to remain the same. At the end of the day, the customers would like to see that they get value for the money that they are spending on such services. They would like the conveyancing companies to go beyond the ordinary and offer something extra to the customers. This is something that has to be borne in mind by customers at all points in time.
For example, most of modern day customers are job goers are those who run small or medium sized businesses. Hence, time is a big constraint for most of them. under such circumstances if as a conveyancer you are able to offer them online conveyancing it certainly can become a game changer for the customers. They would find this offer delightful and irresistible and would be even ready to pay a premium for such services. From the conveyancing companies’ point of view too, offering online conveyancing could be beneficial in more ways than one. They could reach out to newer prospects and help to widen and deepen their networks and also build new and healthy relationships.
Online conveyancing supported by a solid, robust and fully automated backend could go a long way in redefining the entire business approach. Though the entire process could take time and effort the results will be there for all to see over a period of time.
Attributes For Being Successful In The Conveyancing Market
July 23, 2014
There is no doubt that buying a property can be quite complicated and tricky. Many customers try to do conveyancing on their own and end up making a mess of it. Quite a few of them could also run the risk of losing their properties and also their hard earned money. Hence, it is only wise and sensible for customers to understand the importance of hiring professionals for getting the job done. Conveyancers are individuals or companies that have been permitted by the government authorities to give professional help to customers so that they are in a position to easily transfer property from one entity to another. However, for the customer the challenge is two fold. First and foremost, he or she has to understand what conveyancing is all about and how it impacts the transfer of ownership from the buyer to the seller. The next important challenge is to look out for the right conveyancer who can specifically meet their needs and requirements.
Choosing the right conveyancing would be difficult unless one has a clear idea as to what exactly are the attributes of a good conveyancer. If you wish to classify these professionals as good and bad, you must understand some basic things about them. First and foremost experience is a very important attribute of a good conveyancer. Hence, it is important for you to look for only those conveyancers who have rich experience and expertise behind them.
The next important attribute of a good conveyancer is their ability to see beyond the obvious. They must be experts in rummaging through old records and ensure that the property in question is legally tenable from all points of view. Particular care and caution should be paid to the lurking prevalence of easements and other covenants which could prove disastrous for the buyers. Such encumbrances will certainly spoil the ownership of the property in question and therefore the onus should lies on the conveyancer to prevent this from happening.
Valuing the property and ensuring that it reflects the fair market value is also something that forms an important part of any conveyancers function. A good conveyancers should also ensure that the valuation report has other elements of qualitative information that could be helpful to the customers in more ways than one.
Attributes Of A Successful Conveyancing Company
July 23, 2014
Achieving success in real estate conveyancing business can no longer be taken for granted. There are quite a few reasons for this and the most important reasons are competitions and changing dynamics of the entire conveyancing business. The competition levels are increasing quite rapidly and it may not be wrong to assume that we will reach a stage where too many services providers will be chasing too few customers. It might not be long before we reach a classic situation where supply might outstrip demand as far as conveyancing business is concerned.
Under the above condition, it is very important for us to find out ways and means by which one can take steps to not only stay afloat in the business but move from one level of success to another. So, if you are one of those conveyancing business owners looking for ways and means to break free from status-quo here are a few steps that could be useful to you.
To begin with as a conveyancer the onus is on you to identify one core area and harness on the same. This will go a long way in offering more value to the customer. For examples, if as a conveyancer your core area of competence is valuation of properties, you must build your business on this core area of competence. However, at the same time you must be able to offer other services to the customers failing in which your company will become more of a valuation company than anything else. You must try and become a one stop solutions for all matters related to real estate conveyancing.
The next important point that needs to be kept in mind is the need to look for ways and means by which you can add more value to customers. Towards this objective you must understand the importance of using technology to your advantage. You must get started with a website of your own and also take steps to increase footfalls to your website. There is also the need to network better and build relationships because at the end of the day conveyancing is a service than anything else. You must also try and strike a good balance between your fees and the quality of services that you are offering to your clients.
How To Be A Successful Conveyancing Professional
July 23, 2014
The competition in the entire real estate sector is increasing quite dramatically. Hence, the same is having a spillover effect as far as real estate conveyancing is concerned. Running a conveyancing business is not the same as it was some years back. Quite a few well established conveyancing businesses had to shut shop because of intense competition. One should take lessons from these companies and find out ways and means by which one can stay afloat and also grow in this competitive but potential business.
First and foremost to be a successful real estate conveyancer, it is very important to set the basics right. The business must be founded on strong and solid fundamentals and objectives. This should be the guiding light when it comes to building and strengthening the business. Being customer focused and offering all the services under the ambit of conveyancing is extremely important. They should be manned and run by experienced and qualified professionals who again must understand the importance of being customer focused.
Offering their services at reasonable rates is another important point that must always be kept in mind. While being reasonable and competitive in rates are quite vital, the service providers must not under any circumstances compromise on the quality of deliverables to their customers. Customers at the end of the day want their work done properly and are always not price sensitive as is the case with other products and services.
There is also the need to understand the importance and significance of the internet and its capability to reach millions of prospective customers. Hence, professional conveyancing companies must ensure that they are present quite aggressively on the internet. It is imperative for any professional conveyancing company to have its own website. Additionally, it is also expected hat they should offer online conveyancing which could certainly be a big value differentiator when compared to other such conveyancing companies.
Last but not the least, timely submission of reports and ensuring timely delivery of end products is also very important. Today’s customers are hard pressed for time and therefore as a conveyancer you should find out ways and means by which they can help the customers to save time and get more value for money. Reinventing the wheel and going in for newer methods of customer acquisition is also one more that needs to be always on the top of the mind.
How To Succeed In The Competitive Conveyancing Market
July 23, 2014
The problem is almost each and every process that fall between the first and the last point are very complicated and complex. They are beyond the comprehension and understanding of ordinary retail customers and therefore the help of conveyancing professionals is very important to say the least. They play a big role in hand holding the customers as they walk through the entire process. Therefore the role of conveyancers is very important and critical to say the least.
However, competition in this business has also increase quite substantially over the years. Hence, if you are into this business and would like to find out ways and means by which you can further your business activities, then you have to find out ways and means by which you can be relevant. To begin with as a conveyancer you should be ready to offer a one stop solution to the customers whenever they come with a requirement of buying or selling a real estate property. Whether it is the need for helping out the customers with lawyers or attorneys or for the purpose of valuing properties, as a conveyancing professional you should be able to provide the same to the customer. Some of the cases could be complicated and difficult and the service provider should not shy away from servicing the customer just because the case is difficult.
The next important point for being successful in the conveyancing business is to understand the need to leverage on technology. Good conveyancers are those who understand the importance of offering online conveyancing to their customers. Though this could be a difficult task it has to be kept on top of the mind given the fact that it will set the service provider apart from the
crowd. There is also the need to be present heavily in social networking sites like Facebook and Twitter where all the action is as far as prospective customers are concerned.