Attention conveyancers…do you have a point of difference? Do you want one? Does it pay to be different?
It seems Conveyancers are forever having to cater for a myriad of situations, clients and property types. It seems that no two files are ever the same, which puts a strain on you and your staff who may struggle to keep up. To top it all off, you have to compete in a market where consumers are not entirely sure what it is you do and how to differentiate between you and the conveyancer down the road.
So how do you find your unique point of difference when you have the same service offering as others?
Let’s look at 8 points of difference:
1. Strata Guru
Here in Western Australia the introduction of the Strata Titles Amendment Bill 2018 and Community Titles Bill 2018 will see a host of changes to strata.
With anticipated growth in Strata across WA, could specialising in Strata conveyancing set you apart from your competitors?
With a potential to service first home buyers, investors and downsizes this niche market looks set for a bright future as the State Government embraces and incentivises urban infill.
2. Business settlements.
Remarkably here in WA there are approximately only 20 licenses currently issued to settlement agents who are permitted to settle commercial properties.
With licenses only granted after considerable experience now would be a good time to search out one of those license holders and beg to learn the dark arts. Alternatively, the AICWA is exploring how we can kick start an accreditation program and boost the numbers.
3. Mobile conveyancing
While WA conveyancers are required to maintain a physical office they are not precluded from being mobile and doing house calls. It’s likely you have visited many clients over the years but have you ever thought of going mobile and advertising the service?
4. Tech savvy
Were you the first to buy a Walkman, a video recorder, CD player, iPod or smartphone? If you were, its likely you are an early adopter.
As it is with retail, there are those amongst us who gravitate to new shinning things including new ways of doing business.
Hands up anyone miss the typewriter?
Increasingly we are seeing new innovation in property technology (Prop Tech) that can offer not only streamlined processes but offer new customer experiences. If you have a taste for the new check out PEXA Key, Moving Hub, Houseroo and AICWA’s Fast Connect.
5. Customer Service Champion
How many times have you lamented the lack of service when you shop?
There’s no hard and fast rules when it comes to increasing your customer service experience but it’s worth exploring ideas by first understanding what it is your customers want.
Here in WA the AICWA recently teamed up with Fast Connect to provide a utility connection and disconnection service for buyers and sellers. This unique offering sees AICWA members remunerated by Fast Connect for assisting clients. No hard sells and no lock in contracts delivers a fresh approach to assisting your clients.
So whether its offering a mobile service, assisting with utility connections or even being a buyer’s advocate, consumer expectations are changing so maybe it’s time to embrace that change and ask the question “is there anything else I can do for you?”.
All those years of accumulated experience and knowledge must count for something right?
When was the last time you calculated how many years you have been doing conveyancing for? If you have clocked up some K’s on the conveyancing odometer embrace it and be proud, after all “the only source of knowledge is experience.” – Albert Einstein
7. Expat/Foreign Market
With a relatively stable economy, desirable tertiary institutions and wide open spaces, Australia is well known as the lucky country. So it’s not surprising foreign investment in the property market has been steady over the last decade.
Is your agency somehow uniquely placed to service the foreign market? Maybe you or your staff speak a second language, if so, have you ever thought of using it to your advantage?
8. Low Fees Guaranteed
It’s the elephant in the room for many in the industry, but let’s face it, many brands exist at either spectrum of the price range, but have you ever seen a conveyancer marketing themselves as the most expensive?
Dropping $3k on a good conveyancer is not about to get you admiring looks, after all you can’t drive or wear a conveyancer’s company logo around town!
Being cheap isn’t everyone’s ideal business model but it can work with some effort and expertise.
It is important to note in accordance with section 29, the ACL (WA) prohibits false or misleading representations about specific issues, e.g. the price of the goods or services. These general provisions could be used to prosecute an agent if the way the agency’s services are marketed are false or misleading.
Embracing a point of difference is not for everyone but it’s a worthwhile exercise to take some time out to think about what you do well and whether you can capitalise on it. But after all if it’s not broke….