By Legal Futures Associate Landmark Information Group
Those in the discussion, Derek Burt, Head of Mortgage Ops at Lloyds Banking Group, Ross D’Aniello, Co-founder of Chartwell Noble in Worcestershire, and Jenny Woodruff, Partner at Wilson Browne Solicitors, identified the challenges they face day-to-day and agreed on the importance of collective action and that everyone in the industry shares the same ultimate goal: the best interests of the client.
Landmark has long been aware of the consistent industry-wide challenges faced by property professionals. The barriers to smoother property transactions can be broken down with greater cross-industry collaboration, new technology and modernised processes. In a bid to begin improving connectivity across the market, last year Landmark launched LandmarkConnect, a series of digital hubs for each sector, allowing disconnected parts of the industry to connect.
As part of the Common Ground discussion, the group identified three main challenges: an unpredictable market, gaps in communication and siloed information, and the impact of longer transaction times. They touched on the difficulty of maintaining consistency amid rapidly changing market conditions, the fear of letting customers down, and how effective, streamlined communication would lead to less delays. A strong theme through the discussion was the vital role of technology in reducing transaction times and improving efficiency. The group acknowledged the vast potential of data to streamline processes and enhance transparency.
This discussion reflects that of a roundtable* hosted by Landmark at Portcullis House in February 2024 which showed significant consensus for greater cross-industry collaboration to streamline the home buying and selling process. It was agreed that the transactions pipeline could be improved to provide a quicker, more certain process for consumers by drawing on new ways of working, as well as technology to provide the correct information earlier in the transaction.
Landmark’s latest market research data** revealed the top frustrations in the transaction process across all sectors. The research spanned hundreds of estate agents, conveyancers, surveyors, and lenders, and highlighted a striking convergence of pain points for property professionals across the transaction chain.
Simon Brown, CEO, Landmark Information Group says: “This conversation reveals a deep, shared commitment among property industry professionals to overcome challenges and drive positive change for the benefit of everyone. By fostering better communication, embracing technology, and working collaboratively, the industry can improve efficiency and deliver exceptional service to clients. The collective effort to modernise and streamline processes is essential for the future success of the property market.”
