The Intermediary – February 2025 - Flipbook - Page 61
B RO K E R B U S I N E S S
Opinion
Take time to decide
who you wish to
work with in 2025
T
he easiest route isn’t
always best. Brokers
know this when it
comes to securing the
right mortgage deal for
their clients, yet when it
comes to conveyancing, too many still
default to the path of least resistance.
This is understandable – conveyancing
is oen seen as a necessity rather than
a differentiator.
But in 2025, that mindset needs an
overhaul. Overpriced quotes, hidden
fees, slow turnaround times, and poor
communication don’t just reflect badly
on conveyancers – they reflect badly
on the brokers who introduce them.
When a client receives an
unexpected charge or struggles to get
an update, their frustration isn’t just
with the solicitor – it’s with the entire
process. In a world where trust and
reputation drive business, that’s a risk
brokers can ill afford to take.
Transparency
The intermediary conveyancing
market has been long overdue for
reform, and while some firms
continue to operate with opaque
pricing models, others are stepping up
to offer a more effective way forward.
Too many providers advertise low
upfront costs only to pile on additional
charges for essentials like onboarding,
ID checks, and administrative tasks.
It’s a business model borrowed
straight from a budget airline – the
initial price looks competitive,
but by the time the transaction is
complete, the client has paid far more
than expected.
These hidden fees don’t just hurt
the client’s wallet, they damage
trust. When a client commits to a
conveyancer, they assume the costs
have been fully disclosed. When that
turns out not to be the case, it’s the
broker who ends up in the firing line.
Transparency isn’t just one of those
trending terms – it’s the difference
between a seamless, professional
transaction and one that leaves the
client second-guessing their decisions.
Responsibility
A broker’s role certainly doesn’t
end once the mortgage is secured.
Clients trust their broker to guide
them through the entire property
transaction, including selecting a
conveyancer that will provide as
seamless and stress-free an experience
as possible.
Too oen, brokers fall into the trap
of choosing a firm simply because
it’s familiar or easy, without actually
questioning whether it truly serves
their clients’ best interests.
That decision carries weight.
When clients are hit with unexpected
charges or struggle with delays, they
don’t separate the conveyancer from
the broker – they see them as part of
the same process. The reputational
damage that comes from a
substandard conveyancing experience
can be significant, leading to lost
referrals and diminished trust.
On the other hand, brokers who
partner with firms that prioritise
service, efficiency, and transparency
stand to gain far more than just
a smooth transaction. A positive
experience builds client loyalty,
encourages repeat business, and
strengthens reputation.
The market has spoken
The past year has made one thing
clear: clients and brokers alike are
growing increasingly frustrated with
the traditional conveyancing model.
We recently announced that
conveybuddy has registered more
than 1,000 brokers since our launch
HARPAL SINGH
is CEO at conveybuddy
in September, many of whom had
become disillusioned with some of
the industry’s biggest players, which
continue to rely on hidden fees
and outdated processes. Since this
announcement, the figure has grown
to more than 1,200, and counting.
Brokers who have moved away
from ambiguous pricing structures
in 2024 have found themselves in
a much stronger position. Fewer
complaints, faster transactions, and a
more streamlined approach has meant
beer outcomes. Those who took the
time to reassess their partnerships
didn’t just avoid headaches – they
gained a serious edge.
Future-proofing
The world of conveyancing
distribution is shiing, and
intermediaries must be proactive.
Brokers should ask themselves
whether their conveyancing partners
are keeping up. Are they offering
modern solutions, or stuck in outdated
ways of working? Are they prioritising
transparency, or still relying on
hidden fees to boost their margins?
The choices brokers make now will
determine their long-term success.
Working with a conveyancer should
never feel like a risk. It should be a
seamless extension of the broker’s
service – one that enhances the client
experience rather than complicating
it. Those who choose wisely will not
only protect their reputation but
also future-proof their business for
years to come.
The industry is changing. In 2025,
brokers who take the time to choose
their partners carefully will be the
ones who come out on top. ●
February 2025 | The Intermediary
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