Are property solicitors a rip-off?

[stethomson]

Solicitors are heavily regulated and very anti-competitive. Having worked in the profession before I know that a lot of work is created simply to push fees up. In addition, half the time solicitors have no idea what they are doing, either because of incompetence or because of time pressures.

What do you think of this? What experience do you have of property solicitors? Do you think they are worth the money?

Stephen

[JustinN]

You won't be surprised to hear that I take great exception to those sweeping generalisations!

[stethomson]

Hi Justin,

Of course, they're a bit too sweeping, but designed to provoke discussion...

My (general) view is that the legal profession as a single regulated profession should be broken up, and that the legal regulators should be deprived of their strangehold over the profession which creates stifled business conditions, high fees for clients, and does little to address the poor quality of legal advice which many clients receive. Of course, some sort of regulation is required, but only regulation which maintains quality and accessibility of advice whilst creating free competition in the sector.

I realise these are to some extent sweeping comments too, but they are sentiments I hold nonetheless. What is your view on regulation/competition in the legal profession?

I see you are yourself a solicitor - would you deny there is strong self-interest in keeping the sector so closed?

[JustinN]

If by "closed" you mean every firm of solicitors and licensed conveyancers having to compete with each other, then your idea of "closed" is not mine. Certainly, I think the profession is over-regulated, but I suspect every other profession feels that, too

Who else would you want to handle conveyancing (as I cassume that is what you are getting at rather than, say, litigation, probate or family law)?