In its report looking at the need for improvements in the home buying process, the government outlined three key areas of concern. Firstly, the quality of the consumer experience, secondly the length of time a transaction takes and thirdly the number of purchases that fall through.
Technology should offer improvements in all of these areas and it is particularly true of the consumer experience problem. Buyers and sellers want better communication and clarity in the transaction, something that can be offered via online portals explaining what needs to happen next.
The old saying about a week being a long time in politics is clearly relevant at the moment, so to look back over the last 18 months in terms of the home buying and selling process is somewhat problematic simply because there has been so much going on, with progress made across a large number of areas.
Plus of course we have had the not-so-small matter of there now being a new Prime Minister in Downing Street, plus the personnel changes that have come as a result, with a new Secretary of State and Housing Minister as a result of the recent reshuffle.
When the government published its paper, Improving the home buying and selling process, in April 2019, it made a clear request for technological improvements. The whole lifecycle, from estate agent listing to land registration faces modernisation, with technology led innovation such as digital signatures, ID verification and the adoption of e-conveyancing combined with a closer monitoring of the people involved and the progress of the transaction.
How law firms can take ownership
There have been multiple attempts to improve the home purchase process. Most have failed but there are, finally, signs of progress from the emergence of an array of ‘prop-tech’ start-ups through to some compelling proposals from the Home Buyers and Sellers Group.
In February 2019 The House of Commons released a briefing paper about Improving the Home buying and selling process across England. The paper identified the main concerns with our current home buying and selling process as:
-Time taken to complete a transaction
-Lack of transparency
-Weak regulation of Estate Agents
-Lack of digitalisation
Hubshare is joined by our client and UK law firm Steele Raymond, who have used Hubshare since it’s implementation in May this year. Yvette Moss, Steele Raymond’s IT Director, will provide insight into how they have found using Hubshare, why it stood out from the rest and how Hubshare has enhanced their client collaboration!
The Law Firm: Aldridge Brownlee Solicitors was founded in 1929 and over the years they have seen steady growth with three offices located in Bournemouth and one in Highcliffe. Altogether the firm employs over 70 people across the team, specialising in personal law – disputes & litigation, family law and business law.
The legal industry is utilising more technology than ever before. Law firms understand that in order to be considered as a leader in their respective fields, incorporating both legal IT and the knowledge to power it is now essential.
DX Group is pleased to announce achievement of ISO 27001:2013 certification for Information Security Management, for the DX Exchange service. The extension of this certification to include the DX Exchange service, is a demonstration of its commitment to data protection and information security management for DX and our member data.
This is a direct response to the needs of DX Exchange members, including legal firms, financial organisations and the public sector.
Get the festive party season started with some drinks and socialising at Sprout IT's quarterly legal social!
Come join us for some serious fun, a few summery cocktails, network with your peers, meet some Sprouts and have a jolly good time!
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