Search Acumen Comments On CLC

Search Acumen Comments On CLC

Andrew Lloyd, Managing Director of Search Acumen, comments on the Council for Licensed Conveyancers (CLC) Conveyancing 2030 paper, where it was recognised as a key player in the digitalisation of the industry:

“The potential for transforming the property sector over the next ten years is huge. We discuss three central changes in data, skills and regulation which will be crucial to achieving this shift.

“Accessible, accurate and timely data is the first cornerstone to improving the market. Public and private bodies need to be better at digitalising existing data sets, but we must also look further afield to capture new data sources from smart homes and cities. Moving towards a real-time model of data availability – where relevant data is always available in a standardised format – is crucial to provide all those involved in a transaction access to all relevant information at the time they need it.

“Changing the way that technology supports the property due diligence process will inevitably lead to a radical change in the role of conveyancers and commercial property lawyers, along with the structure of the market. As technology takes on mundane legal tasks, conveyancers will be empowered to do more and are likely to branch out into other areas of the process. In more complex cases, conveyancers will see a transition from being a source of information to being a trusted advisor on data interpretation and analysis. Upskilling and technical training will be essential, however, we also believe that law firms should be looking outside the traditional conveyancer for people with new skills.

“A new approach to data and technology inevitably brings regulatory challenges in how they are standardised and policed. We therefore need to work hand in hand with regulators to ensure that the progress of technology always serves consumers. They need to have confidence that data is accurate, and they need to be able to compare services of different providers. Industry standardisation is therefore essential.

“However, we must not be beholden to regulators to provide a pathway to progress. Instead, innovation must come from industry, with the regulator taking a more agile approach of observing and assessing innovation to ensure consumer protection. We urge the industry to be agile, adopt technology, education and embrace change for the advancement of the entire sector.”

This article was submitted to be published by Search Acumen as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

Search Acumen

http://www.search-acumen.co.uk/

Next Generation Data

Whether your property transaction is big or small, commercial or residential; you can rely on us for accurate property data. We collaborate with forward-thinking law firms who have an appetite to use authentic data in consultation with their clients. Our relentless focus on the next generation of property law, means all our customers already benefit from our easy access instant data, saving them critical time and resource.

What we do

We provide more than 40 layers of essential property data, digitally and on-demand through our intuitive ForeSite Platform. Our advanced system allows our customers to analyse real estate sites before the purchasing process has even started. Early warning indicators create a highly efficient consultation process between our customers and their clients, significantly improving the purchasing experience.

What makes us different?

Our customers choose us and stay with us because we’re different. They like being part of our community because our vision for the market allows us to deliver future proofed innovations which is good for their business. Here’s some examples from the past twelve months that have helped us receive recognition as thought leaders in the property data space:
  • Data Snapshot - An instantly available property report that Conveyancers and Commercial Real Estate Lawyers can use to mitigate risk from the outset of their due diligence.
  • AI & Machine Learning - We’ve developed our own Machine Learning tool using Amazon based AI which is specifically designed for the property data industry.
  • Blockchain - We continue to work with industry leaders in the Blockchain Technology space to create positive change and we were the sole property data provider in the UK’s first Blockchain property trial (2019).
Contact: Sam Jordan Tel: 01622 478843 (ext 4460) Email: Sam.Jordan@search-acumen.co.uk Address The Maidstone Studios, New Cut Road, Vinters Park, Maidstone, Kent ME14 5NZ

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