When you are busy, how do you prioritize your work?
At first glance, this seems such a simple question, but it is in fact the most fundamental, and potentially the most complicated, that we have to answer in our professional life.
For those who manage staff, it becomes even more complex because it is not only your own work that you must prioritize, but that of perhaps many people. Then you enter the areas of management skills, delegation, trust, and experience.
Advisors can see which specialists are accepting the job
In the world of conveyancing, this question of workflow, resources, and priority is being discussed every day right now. Prioritization has been absolutely vital over the past two years in order to complete the work received.
Recent figures from Search Acumen show the level of transactions that transfer agents have worked on. In the fourth quarter of last year, more than 300,000 transactions were recorded in more than 4,000 companies.
The latter represent a large number of companies and the service received by the advisors and their clients will have been very different.
In the decade before the pandemic, the number of transfer businesses active in this space was steadily declining. There were very good reasons for this — conveyancing had become more specialized in nature; businesses that moved back and forth struggled to compete and provide effective and efficient service; and it was obvious to us as a distributor that specialist players were in a much better position to provide the level of service required. They had the experience, the resources and the focus.
The average company saw a record 76 deals closed in the last quarter of 2021
It may not have escaped your notice that the fundamentals discussed above have not really changed, and yet we are seeing an increasing number of companies active in the area of conveyancing, particularly since the start of the pandemic. It has a lot to do with increased activity levels, but specialists had to trim their fabric accordingly during this time.
Managing a large number of employees working remotely has not been easy, and stamp duty deadlines have piled on more pressure, with the need to meet certain completion dates being all-encompassing.
Businesses that would normally have been accepted by top specialists had to find another home as they sought to meet the influxes they were already receiving. The cases, and the amount that could be taken, were (rightly) prioritized.
We have seen an increasing number of companies active in transferring ownership
As a result, cases went to other lawyers, the number of companies active in transferring ownership increased, and the average company saw a record 76 closed deals in the last quarter of 2021.
Use of a platform
This trend may well continue in the short term. But one of the benefits of advisors involved in providing conveyancing advice is that they can effectively prioritize their client. Using a platform like ours, they can see which specialist companies are accepting the job and can make sure their client is going to a full-time transfer agent dedicated to completing that job on time. desired.
Prioritization has been vital over the past two years in order to complete the work received
It may not be their “usual” company, but it will be a very experienced company that is committed to our high service standards. If it wasn’t, it wouldn’t be on the panel.
Overall, these are priorities. The adviser prioritizes the provision of conveyancing advice rather than letting the client go elsewhere; we give priority to firms capable of accepting and carrying out the work; and the lessor prioritizes the work requested by the client. By doing this, everyone should get the correct result.
Mark Snape is Managing Director of Broker Conveyancing