StudyCOMP/2006/D3/003Conveyancing Services Market

The European Commission has been working to promote reform and modernisation ofrestrictive regulation in the professional services area since 2002. In a first stepresearch was carried out which included an independent study of professionalregulation by the Institute for Advanced Studies in Vienna published in March 2003.1This underlines wide disparities in levels of regulation across the EU and reveals linksbetween excessive regulation and economic inefficiency. Drawing on the IHS study andother fact-finding work, the Commission then published two policy reports,2 whichsummarise the Commission’s thinking on the scope to reform or modernise specificprofessional regulation and rules in the professions....

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Year of publication:	2007-12-01
Authors:	Schmid, Christoph U. ; Sebastian, Steffen ; Lee, Gabriel S. ; Fink, Marcel
Institutions:	Institut für Immobilienwirtschaft <Regensburg>
Subject:	Wettbewerb \| market microstructure \| Markt

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Executive Summary
1. Introduction
2. Regulatory Models
3. Legal Part
4. Economic Parts
4.1 Regulatory Indices
4.2 Market Outcomes: Transaction Costs
4.3 Market Outcomes: Assessment of Service
4.4 Econometric Analysis
5. Case Studies
5.1 England and Wales: Lawyers and Licensed Conveyancers System
5.2 Germany: Latin Notary System
5.3 Netherlands: Deregulated Notary System
5.4 Sweden: Licensed Real Estate Agent System
Conclusions and Way Forward
Key Findings
Way forward
I. Introduction
1. Background
2. Aims and Methodology
3. Approach and Structure
II. Size of the legal conveyancing services market in the EU27
III. Legal Part
1. Definition: Conveyancing disaggregated
2. Types of Professionals and Services Offered
2.1 Real Estate Agents
2.2 Technical Services
2.3 Legal Services
3. Mandatory or Voluntary Involvement and Scope of Services
4. Professional Regulation
4.1 Real Estate Agents
4.2 Latin Notaries
4.3 Lawyers
5. Justifications for Restrictive Professional Regulation
5.1 The Latin Notary System
5.2 The Dutch deregulated notary system
5.3 The Lawyer System
5.4 The Scandinavian Licensed Real Estate Agent System
6. Summary on Regulatory Models
IV. Regulatory Indices
1. Introduction and Methodology
2. Regulation Indices for EU Countries
2.1 Countries with “Latin notary” (LN-countries)
2.2 Countries without “Latin” notaries
2.3 Comparing “different worlds” of regulation of legal services inconveyancing
3. Sensitivity tests with different models of weighting
Annex to Chapter IV: Sensitivity tests for regulation indiceswith different models of weighting
1. MERI and MCRI for different professions: outcomes of alternativemethodologies of weighting
2. Overall regulation indices: outcomes of alternative methodologies ofweighting
3. Comparing “different worlds” of regulation of legal services inconveyancing with three alternative models o

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