There are lots of good technical practitioners, but cash flow management needs a major improvement across the profession.
The missing part after demonstrating value and adopting innovative conveyancing pricing strategies is to make it simple for your clients to pay for your services.
It is essential for clients to be able to pay for your contract reviews and vendor telephone interviews easily and before you undertake work on their behalf.
From my experience sending a link to my website where a client can pay by credit card has worked wonders for my practice and enhanced my cash flow – remember ‘CASH IS KING’.
Conveyancers/Lawyers who operate without upfront payments and easy payment options are creating client issues for their practices.
Four steps to success:
1. Get paid by your clientele before undertaking any work
2. Make it easy for your clients to pay for your services
3. Demonstrate value through a pre-contract review or vendor telephone interview
4. Review pricing strategy using the 4 different methods
The essential element of operating a successful and meaningful conveyancing practice is to be trusted and respected by your clients and not to be considered a commodity.
The best clients are the ones who understand the many risks involved in their conveyancing process and acknowledge you as the expert and are prepared to pay you for your expertise.
It is up to the conveyancing experts to take the lead by following the steps outlined in the client onboarding steps. You as the Practitioner will set the boundaries and non-negotiable terms for vendor and purchaser clients.
I have written extensively about how to adopt recommended best practice procedures in my eBook “Step by Step Guide to Operating a Successful Conveyancing Law Practice” 2nd Edition.
About the Writer
Garth Brown is an award-winning Conveyancer and founder of Brown and Brown Conveyancers based in Sydney. He is an AIC certified premium property specialist with 20 years experience in the Conveyancing Industry in NSW offering quality professional Conveyancing and property law services to his clients. Awarded Conveyancer of the Year 2015 he was also Runner up Best NSW Conveyancer of the Year 2010 and 2012.
New release 2nd Edition eBook:
‘Step by Step Guide to a Successful Conveyancing Law Practice”