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26 April 2024 / Peter Ambrose
Issue: 8068 / Categories: Features , Profession , Property , Conveyancing , Artificial intelligence , Technology , Career focus
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Making tech at home in conveyancing

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Residential property law isn’t exactly leading tech innovation. Why not, & how can it change? Peter Ambrose investigates
  • Why residential property lawyers should embrace AI and use it to their advantage.

When it comes to driving technology innovation, residential conveyancing tends to take a bit of a back seat—which is ironic, given that risk management is among the biggest benefit offered by technology, and conveyancing is the discipline that carries the most risk today.

As buying or selling a property is the most common reason for someone to instruct a lawyer, this makes competition fierce and margins slim. Law firm owners will acknowledge that residential property work is often at the back of the queue for investment, despite its ability to generate cash for the business quickly.

Unfortunately, investment in new technology for conveyancers remains sluggish. Moreover, the stamp duty land tax holiday experience still casts a long shadow, making retention and recruitment of experienced staff challenging.

A highly fragmented market

Bringing technology change

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MOVERS & SHAKERS

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Sponsored by
Newcastle & North of England Law Society—Lesley Fairclough

Newcastle & North of England Law Society—Lesley Fairclough

Ward Hadaway partner becomes bicentennial president following regional merger

Devonshires—four promotions

Devonshires—four promotions

Firm promotes four senior associates to partner in annual round

Fieldfisher—John McElroy & Daniel Hayward

Fieldfisher—John McElroy & Daniel Hayward

Co-heads of dispute resolution practice appointed alongside partner promotions

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