Artificial Intelligence (AI) is deeply embedded in our everyday lives, streamlining processes from customer service to internet searches. Even our homes are increasingly digitalised with virtual assistants like Alexa at our constant beck and call. As consumers, we are becoming more and more accustomed to this level of efficiency.
However, there still appears to be a noticeable gap in how this is applied during the homebuying process. The journey from offer to completion is notorious for being stressful, time-consuming, and costly for all, including conveyancers. The level of expertise they hold is second to none, but the process is extremely complex, and with demand and instructions rising, capacity is falling. What if they could harness the power of AI to help them cater to demand and free them up to focus their expertise on the more complex cases? What if AI can help field frequently asked questions or help with data sharing?
In this final instalment of this blog series, which has examined the issues consumers face whilst going through the transaction process, we look at how AI can alleviate these pain points traditionally associated with homebuying.
An imperfect transaction process
The pressure to accelerate the housing transaction process and provide greater certainty is mounting, driven by the government’s ambitious plan to build 1.5 million new homes by 2029. It has signalled the need to enhance the current conveyancing infrastructure, which is already under strain, if we are going to have a system that can handle the increased transactions this plan is intended to bring.
This change could not be more vital. The current process is fraught with stress for consumers and conveyancers alike, primarily due to unexpected costs, lengthy timelines, and perceived communication issues. According to the Smoove Home Movers Trends Report, transactions take nearly five months on average, significantly longer than the three months most consumers expect. This discrepancy not only causes uncertainty and associated anxiety but also puts mortgage deals at risk, with 21% of buyers worrying about their rates changing before completion.
The complexity of the conveyancing process further compounds these issues, and, as a result, the research also found that nearly half of consumers perceive a lack of communication as a significant issue, and less than a third feel fully informed throughout the process. This is simply not the case – conveyancers are delivering valuable insight and updates on cases as often as they are able, so where is the disconnect and how can we plug it?
The future is (partially) automated
The gap, from Smoove’s analysis, is not a lack of communication, but rather the perception of this. As such, the takeaway is not necessarily more communication, which takes up valuable time, but better information delivery and greater transparency. This is where AI can step in, automating responses to simple queries, alerting clients at each stage, and even performing ID and fraud checks to significantly ease the burden on conveyancers.
And there is an appetite for this from consumers:
This openness indicates a shift towards embracing digital solutions to drive efficiency and improve experience. However, the human touch remains essential with 89% of consumers still wanting direct contact via phone or email. Automation can address key issues by providing real-time updates, reducing delays, and enhancing transparency, but with buying a home being one of the biggest financial commitments a person can make, it is clear that we need a balanced approach between technological intervention and the human touch.
That’s where innovative platforms like eConveyancer and PEXA come in. These platforms can send automatic updates to clients and trigger lender-to-lender updates as different forms are completed. In doing so, they reduce routine queries and free up conveyancers to work on cases that need their expertise and speak with clients who require specialist updates.
Of course, there is no silver bullet. No platform or technology can replace conveyancers, but if we integrate AI with a human touch, we can address the gaps and issues that currently plague the process. This combined approach will not only improve consumer experience but also support conveyancers in delivering the high-quality service that buyers desperately need, and conveyancers want to be able to offer. Embracing digitalisation of the housing process is vital and we must recognise the role of AI as part of this, not least because consumers are calling for it.
You can download The Home Movers Trend report via the following link: The Home Movers Trends Report 2025.pdf.