The changes being introduced in October this year as to how legal services are to be delivered will have far reaching affects on the property market as a whole. It has been well publicised that “one stop shops” will be set up offering consumers the opportunity of purchasing all aspects of property services including buying and selling houses. The Act has become widely known as “Tesco Law” and recent reports in the business media have confirmed that WH Smith will be offering legal services in many of its stores later on this year.
The concern is that both estate agency and conveyancing services will be available off the shelf in your local supermarket and buying and selling property will be on shopping lists across the country alongside carrots and hobnobs. Local agents and conveyancers will face the same struggles, as seen with the high street butcher and baker, not being able to compete with the huge marketing budgets and seeing prices forced down and down.
How do we combat the threat… working together more closely and providing the best possible service and I believe that there is a way that this could be achieved without any additional investment therefore allowing us to compete in what is going to become an even more competitive market.