The recent LSRA’s Conveyancing Reform report, published by the Legal Services Regulatory Authority (LSRA) on 11 April 2024, emphasizes the need for significant reforms to modernize the conveyancing process in Ireland. The report outlines several key recommendations to improve conveyancing services, which could ultimately lead to the establishment of a new conveyancer profession if these reforms are successfully implemented.
Key points from the report include:
1. Digitalization of Conveyancing: The LSRA advocates for the digitalization of the conveyancing process (e-conveyancing), recognizing that while it would be a complex endeavor, it is essential for streamlining current practices and aligning with broader government digitalization goals.
2. Enhanced Price Transparency: The report calls for better transparency regarding the costs of conveyancing services. It suggests that the LSRA should have statutory powers to enforce transparency requirements, which would help consumers make more informed decisions.
3. Consumer Awareness: The LSRA plans to lead national awareness campaigns to educate consumers about conveyancing services, aiming to empower them to make better choices based on transparent and easily accessible information.
The LSRA’s recommendations are underpinned by research including a national consumer survey and an independent expert report by Indecon, which analyzed conveyancing systems in various jurisdictions. The findings suggest that while there is high consumer satisfaction with existing conveyancing services, there is a clear need for reforms to enhance competition, efficiency, and transparency.
The establishment of a conveyancer profession is seen as a potential outcome of these reforms, but only feasible alongside these broader changes to ensure adequate consumer protection and to address significant regulatory and resource-related challenges.
For more detailed insights, you can view the full report on the LSRA’s website.
