Disruption or Opportunity

Disruption or opportunity?

Conveyancers facing turbulent times: disruption or opportunity?

Serious disruption of the traditional conveyancing practice.

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The conveyancing profession is facing some of the most turbulent times in recent memory. Various disruptions of our industry, the secure environment and the conventional way in which we have operated until now is going to change and the changes will be fast and dramatic.

The effect thereof will be huge and the outcomes are still uncertain.

Who will survive?

Only those who have prepared in advance to adapt to these changing circumstances will not only survive, but even thrive. However, those who think they can continue as in the past, as if it is business as usual, in the hope that these dramatic changes will not affect their legal practices is in for an unpleasant surprise.

What are the disruptors?

The five major disruptors are:

1, The state of transition of the legal profession in terms of its organisation,
structure and control due to the impending coming into effect of the Legal
Practice Act 28 of 2014 (expected to be in 2018).

2. The state of transition of the entire deeds registration process, should
the Electronic Deeds Registration Systems Bill (published for comment on 15
March 2017), be enacted.

3. The demarcation of the jurisdiction areas of the deeds registries of
Pretoria and Johannesburg and the opening of new deeds registries in each
of the northern provinces.

4. The pending court case of Proxi Smart Services v The Law Society of
South Africa and Others (set for trial for 6-8 February 2018) in which a declaratory order is sought that certain work performed by conveyancers be declared “unreserved work” which can be performed by estate agents. “The application will, if successful, signal the death knell for the conveyancing profession” (paragraph 6.3 of the first respondent’s answering affidavit).

5. New technology and digital innovations is impacting business in a big way and the attorneys profession is no exception. The latter is a world wide trend and not only applicable to the profession in South Africa.

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