The Intermediary speaks with Kevin Tunnicliffe, CEO of Sort Group, to discuss his extensive experience, the key insights driving the group’s success, and the steps being taken to address the challenges facing conveyancers.
Can you start by sharing a bit about your background and your experience in the brokerage industry?
I started in financial services back in 1989, joining Legal & General as a financial consultant in 1991.
From there, I went on to become a self-employed advisor with L&G, before leaving for a 2 year spell with Mortgage Advice Bureau in 1997 and then a 15 year spell with Sesame network.
Throughout this time, my main area of focus was mortgages and the associated protection products.
Around the 2004 to 2005 timeframe, the idea of starting my own conveyancing platform started to take shape.
I had become increasingly frustrated with the lack of transparency and updates from other conveyancing providers, which led me to believe we could do things better.
What key insights have you applied to Sort Group’s success in the conveyancing space?
Transparency has been a core focus for us. In the past, there were many quoting mechanisms that didn’t provide clients with the full picture upfront.
We’ve worked hard to ensure our quotes are as transparent as possible, including any additional fees or costs associated with the transaction.
Another crucial element has been the emphasis on support. Conveyancing can be a complex and challenging process, and we’ve found that having dedicated teams to assist the conveyancers and act as a bridge between them and the introducers has been instrumental to our success.
Additionally, the integration of our technology has been a game-changer. Ensuring real-time updates and seamless communication between all parties has been a key priority for us right from the very early days
The conveyancing industry often faces criticism in the media. How is Sort Group effectively changing this narrative?
One of the key ways we’re addressing this is through our ‘Levelling Up’ meetings, where we’ve brought together various stakeholders in the property transaction process – from estate agents to mortgage brokers and conveyancers.
The goal has been to have open discussions about the challenges facing the industry, particularly around fee levels and best practices.
Over the last 12 months, we’ve seen some positive movement, with fees starting to increase slightly.
However, there is still a long way to go, and we need to continue working collaboratively to address the root causes of the industry’s problems.
Can you elaborate on the challenges facing the conveyancing sector and how Sort Group is addressing them?
Low fees and lengthy completion times are two of the biggest challenges we face.
Conveyancers are now expected to handle a much broader range of tasks, from environmental checks to source of funds verification, yet the fees have not kept pace with the increased workload.
Additionally, the industry has faced significant disruption, with the 2008 property crash and the COVID-19 pandemic leading to a loss of experienced professionals.
This has contributed to the “race to the bottom” in terms of pricing and firms have struggled to keep up with the influx of work.
At Sort Group, we’re tackling these challenges on multiple fronts.
Our technology solutions are designed to streamline processes, improve communication, and enhance the overall efficiency of the conveyancing journey.
But we also recognise that technology alone is not the silver bullet.
We’re advocating for higher fees to ensure conveyancers can dedicate the necessary time and resources to delivering a high-quality service. I’m a huge believer that less is more in conveyancing. Pay the correct level of fees and keep the case loads of fee earners at a level that allows them to communicate better. At the minute it’s the opposite and I regularly ask people “What do they expect?”
Collaboration within the industry is also a key focus for us. Through our ‘Levelling Up’ meetings, we’re encouraging conveyancers to work together, share best practices, and establish escalation points to help resolve issues more effectively.
What other steps do you believe are necessary to drive positive change?
Education and communication are crucial. We need to better align the expectations of all stakeholders – from estate agents to mortgage brokers and clients.
By ensuring everyone understands the complexities involved in the conveyancing process, we can set more realistic timelines and avoid the frustrations that often arise.
Additionally, we need to make conveyancing a more attractive career path.
By addressing the issues around stress, workload, and reward, we can help retain experienced professionals and attract new talent to the industry.
Ultimately, it’s about taking a holistic approach – leveraging technology, advocating for fair fees, and fostering collaboration.
Only then can we truly transform the perception of the conveyancing sector and deliver the best possible outcomes for our clients.
With the introduction of Sort Group’s new online portal, how do you envision technology transforming the conveyancing and brokerage industry, and what specific benefits does it offer to your clients?
When it comes to the role of AI and technology in the conveyancing process, I have to say that while it’s an interesting topic, do I believe that AI will ever fully understand the complexities involved?
Conveyancing is such an emotional and intricate process. We thought that machines were taking over in the mortgage space a few years ago, yet robo-advice has never really took off.
Our latest online portal has been a game-changer for us in terms of streamlining the conveyancing process.
By integrating various tasks within a single system, we’ve been able to reduce onboarding times by as much as 30% compared to our previous methods.
The portal allows clients to complete their onboarding journey digitally, with features like electronic signatures and data validation checks.
This not only improves the overall efficiency but also helps to eliminate errors and queries further down the line.
Looking forward, what is your vision for Sort Group’s growth and evolution over the next five years, especially in response to changing market demands and technological advancements?
Looking ahead, my vision for growth and the use of technology over the next five years is one of continued technological embrace.
We’re really focused on building our own in-house solutions to improve efficiency across the group.
A big part of that is trying to get turnaround times back down to pre-pandemic levels, or even faster. But that’s going to take industry-wide adoption – we’re working with others on a charter that prioritises those faster turnaround times.
Internally, I want to place our legal services into property hubs around the country, working closely with brokers and estate agents to deliver quick outcomes for clients.
I’m really passionate about reducing stress for our staff – I want them to have achievable targets, industry-leading salaries with bonuses, and generally just a better work environment.
As for how the industry will evolve and adapt, I think it has to be with a fluid and adaptable vision.
After all, who could have predicted a global pandemic just five years ago?
I remember an industry conference a couple years back where someone made a great point – they said that in three years, we’ll all be working on platforms that haven’t even been invented yet!
That really stuck with me. So while we have a solid roadmap for the next couple years, I know things are going to keep changing and improving as technology advances at an ever-increasing pace.
But I’m confident that our group is well-positioned to navigate those challenges and keep moving forward.
Can you share some of the key insights or takeaways from the most recent Conveyancing Levelling Up forum, and how they might influence Sort Group’s strategies moving forward?
One of the things we’ve agreed upon in these meetings is the need for conveyancers to work together more effectively.
We’ve established a system where firms can have an escalation point to contact each other and agree on a way forward, rather than going back and forth and disagreeing.
This collaborative approach has led to the sharing of better practices and a focus on addressing one of the root causes of the industry’s challenges.
We’ve also had very candid discussions about the level of fees.
After careful consideration, we’ve seen fees start to increase slightly over the last four months, which is a welcome development. However, there is still a long way to go.
What steps do you believe are necessary to foster better collaboration across different sectors within the housing market to achieve mutual goals?
We need to better align the expectations of all stakeholders – from estate agents to mortgage brokers and clients.
By ensuring everyone understands the complexities involved in the conveyancing process, we can set more realistic timelines and avoid the frustrations that often arise. I was in a meeting with a conveyancing firm very recently and they commented that the work undertaken to prove source of wealth for deposit funds can now take longer than the actual legal work – and yet the fees for this are minimal – it’s crazy!
By addressing the issues around stress, workload, and reward, we can help retain experienced professionals and attract new talent to the industry.
This, combined with the technological advancements and collaborative efforts, will be key to transforming the perception of the conveyancing sector and delivering the best possible outcomes for our clients.
At the heart of our approach is a deep understanding of the challenges our clients face.
We’ve implemented systems and processes to ensure they receive high-quality service throughout their journey.
One such system is the group’s new online portal, which has significantly reduced onboarding times and eliminated errors.
By integrating various tasks within a single platform, we’ve been able to streamline the process and provide clients with a more seamless experience.
We recognise that conveyancing can be a complex and stressful process, so having dedicated teams to help navigate any issues is crucial.
How does Sort Group gather and utilise client and partner feedback to continuously improve its products and services?
We regularly survey our clients and partners to understand their pain points and identify areas for improvement.
We take this feedback very seriously and use it to inform our product roadmap and service enhancements.
Are there any emerging trends in the conveyancing and brokerage sectors that you believe will significantly impact the industry, and how is Sort Group preparing to adapt to these changes?
We’re seeing a growing demand for more sophisticated data analytics and AI-powered tools to help conveyancers and brokers make more informed decisions.
We’re constantly monitoring the market and collaborating with our technology partners to ensure our solutions remain relevant and adaptable.
Attracting and retaining top talent in the conveyancing sector is crucial, and we’re focused on making it a more attractive career path through initiatives like improved pay, reduced workloads, and better support systems.
