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A set of tech tools designed to create a “common language” for property transactions has been launched by the Home Buying and Selling Group (HBSG).

The Conveyancing Association 2023 Conference is sponsored by Coadjute.

It’s something we can empathise with at Coadjute. Our very own solution for the property market is built on the R3 Corda Enterprise DLT, the very same technology used by banks and financial market infrastructure providers across the globe.

Dan Salmons, the CEO of Coadjute, argues that the announcement “underlines the need for this market to have a digital infrastructure that enables it to work efficiently so estate agents and conveyancers have the tools at their disposal to make it function at all times.”

Coadjute is just another level. Their use of distributed ledger technology to stand up a whole market infrastructure is something we’re used to seeing in central governments or with global solutions such as the SWIFT payment network.

The UK residential property industry’s largest annual event, which had Coadjute as its headline partner, saw agents, conveyancers, mortgage brokers and suppliers brought together under the theme of ‘Working Together Better’.

Coadjute is a UK-based property technology company that connects the various parties, systems, and software applications across the residential housing market value chain.

The Coadjute network is live in the UK property market and rolling out nationally. The network enables data, messages, documents and identity to be shared today, and they are working on the movement of funds.

Michael Booth of Coadjute says better cooperation between estate agents and conveyancers is the key to improving property transactions.

Following publication of the report, Osprey Approach and Coadjute have suggested four ways that conveyancing firms can overcome the key issues identified by the report.

One of the particular characteristics of the property market is how it brings contrasting professions together. From estate agents to conveyancers, mortgage brokers to lenders, and surveyors too.

Nearly four in ten estate agents (39%) believe that greater “mutual respect” would most improve their relationship with conveyancers, but lawyers would prefer to see a focus on better collaboration, research has found.

An overwhelming 82% of estate agents and conveyancers say that the events of the last few years have seen their relationship change and that there is a real opportunity from building greater respect, trust, and openness going forward.

Greater cooperation between estate agents and conveyancers essential to improving property transactions, says new report

In the ‘Working Better Together’ report, a lack of mutual respect was cited by 32 per cent as preventing the professions from collaborating together effectively.

Around a third of conveyancers and estate agents say a lack of “mutual respect” between these professionals “prevents them from working together effectively”, says a report from Coadjute.