It isn’t just introducers who benefit from panel management, but also conveyancers themselves. This National Conveyancing Week, let’s take a look at how panel management can help conveyancers find the balance between profitability, service, and sanity.
Panel management is shifting. What was once seen as a side-lined area of the industry, is now becoming an integral tool for productivity.
But what even is panel management? Put simply, panel management is the coordination and oversight of a network of conveyancing firms by a central entity.
Panel management opens doors across the industry, allowing introducers who work with homeowners a different and more diverse conveyancing offering. A panel can provide a range of specialist options and skill sets to be accessed from one place – enabling brokers and estate agents to facilitate all customer needs as transactions continue to get more complex.
Not only is it a great help for clients, with increased visibility across transactions and the option for choice, but panel management also lets introducers feel connected with conveyancers in a way that may otherwise feel seemingly impossible.
But what’s in it for conveyancers?
When working on a panel, conveyancers can build a predictable pipeline and use panel cases as a baseline to enable them to schedule higher charging, specialist work as they see fit. This consistency can mitigate ebbs and flows with panel managers having set allocations of work they need to send to conveyancers. On top of this, because panel managers usually work nationally, conveyancers can also avoid regional and seasonal dips.
As well as the profitability that comes from consistency, panel work also has low cost of acquisition. This means there is no sales or marketing costs for conveyancing firms to cover, minimising cost and relationship management. The only relationship the conveyancing firm needs to nurture is the one with their panel manager.
The upshot is that conveyancing firms can focus their time on managing their workflows to provide a better service to their clients. Panel managers can provide an extra layer of protection to conveyancers by managing client expectations and educating clients throughout the process – letting conveyancers focus on conveyancing.
By having a panel manager manage and streamline communications in a client– centric way, with many panel managers offering dedicated service teams, conveyancers can maximise efficiency and productivity – ultimately fuelling profitability.
In our view, sanity is the answer to the equation of profitability + service. When conveyancers can reduce their workload to focus on conveyancing, and know they are supported by their partnered panel manager to provide top level service and a continuous pipeline, then a seamless conveyancing flow can take place. Not only do panel managers build client relationships, but they also offer industry ties and networks where everyone is working towards the same goal.
Click here to find out more about National Conveyancing Week 2025.
Are you up to date with the latest property transaction data? You can download Landmark’s Market Research Report – ‘Residential Conveyancing: Looking ahead to 2025’ – by clicking here.
