New research highlights the surprising influence of estate agents on homebuyers' choices for conveyancers – with almost a third opting for a solicitor recommended by their agent. The Lyons Bowe Solicitors study reveals that 32% of recent purchasers selected a conveyancer through an estate agent's referral, making agents the single largest source of new business for conveyancing firms across the UK.
The survey of 1,208 homeowners who bought a property within the last two years found that traditional referrals still hold significant sway. While personal recommendations from friends and family accounted for 25% of choices, online searches were cited by only 19%. This suggests that despite the rise of online tools and reviews, the trust placed in agent recommendations remains a crucial factor.
The study also shows that price considerations often take second place to referrals. Among those who explored multiple conveyancing options, 38% stated that a referral was the most important element in their final decision – compared to 20% who prioritised cost and just 11% swayed by online reviews.
These findings come at a time of softer demand in certain UK housing markets, increasing competition among conveyancing firms. The continued importance of estate agent referrals offers vital insight into consumer behaviour and the property sector's dynamics – with strong relationships between agents and conveyancers appearing crucial for securing new business.
Lyons Bowe Solicitors' managing director, Paul Lyons, stressed the significant role played by estate agent referrals in a competitive market. He noted that agents tend to recommend firms they trust to provide an efficient and reliable service, reflecting positively on them and facilitating smoother property transactions.