Business Idea: Start Your Own Property Conveyancing Business

Business Idea: Start Your Own Property Conveyancing Business

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If you want to work in the property market, then you might consider a job as a licensed conveyancer. Better yet, you could start your own property conveyancing business! However, you will need to get your foot on the ladder first and work your way up to the top. This guide will talk you through what you must do if you want to start a business such as this:

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Your Role

A licensed conveyancer use the legal process in order to transfer a property from one owner to the next owner. You will basically be a specialist lawyer who focused on property, dealing with paperwork and other aspects of the job. You’ll need to have people skills and an eye for detail if you want to be good at this job.

Here are some of the duties you can expect to complete on a daily basis:

  • Double checking contracts.
  • Keeping records.
  • Paying taxes.
  • Getting leases ready.
  • Speaking with mortgage lenders, estate agents, and solicitors.
  • Researching.
  • Advising clients.
  • And more!

Getting Your Foot in the Door

The first thing you’ll need to do before you can even consider starting your own property conveyancing business, is get your foot in the door. You’d work normal office hours, but some businesses do run 7 days of the week.

Your income could start anywhere between £16,000 per year and £20,000 per year. However, you can expect to earn a lot more after you qualify. Team leaders often take home £40,000 per year, while a partner or owner of a firm could take £60,000 per year.

The first thing you need to do is pass some exams given by the Council for Licensed Conveyancers. You’ll also need 4 GCSEs in grades A, B, or C, especially in English.

If you can manage to get work in a conveyancer’s office without the qualifications, and are over 18, they may agree to train you up without the minimum qualifications. This is rare though!

Applicants who are aged 25 or over may be considered without the qualifications if they have experience and merits. You don’t need to have worked in the legal industry before to begin working in this industry.

If you’re already a solicitor, you will simply need to apply for a license to become a licensed conveyancer.

Training

To become fully qualified, you’ll need to spend a minimum of 2 years training with an employer, such as a solicitor. You’ll also need to pass the CLC exams as mentioned earlier.

Once you’ve completed those, you’ll get your first license. You’ll then need to do 6 hours of professional development annually.

After you’ve reached this stage, it’ll be 3 years working like this before you can get a full license. You can then take the steps to set up your own property conveyancing business!

It’ll take a few years and a lot of hard work, but it’ll be worth it when you’re bringing home the bacon. I hope you found this post useful. Good luck!

 

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