New portal launches to help estate agents speed up completions
To help estate agents reduce the average time it takes for a property transaction completions, and reduce fall-through rates, Legal Bricks has launched its new portal – LB Property, which will speed up the time between buyers agreeing a purchase and conveyancers being instructed, as well as improving communication throughout the property sales journey.
Given the frustration from UK house buyers and sellers on the time it takes to get to completion (cited as the number one complaint in a YouGov survey commissioned by the House Buyer Bureau), the new portal will help to alleviate some of the pressure on estate agents and conveyancers with completions taking as long as 150 days, according to Rightmove.
The intuitive LB Property portal allows estate agents to obtain multiple conveyancing quotes for house buyers from their chosen legal partners in an instant – either before or after an offer is accepted on a property. Once a quotation turns to instruction, estate agents and the property buyer can then track the entire conveyancing process in real time to completion through its tracking capability. It also helps all parties to identify and overcome hold ups faster.
Legal Bricks, which is part of Access Legal, provides a customised online property search platform and a full suite of conveyancing and anti-money laundering products that simplify and make transactions smoother for estate agents, conveyancers and clients.
Mike Connelly, Commercial Director, and founder of Legal Bricks, highlights the adoption of tech by estate agents to speed up transactions:
“Estate agents and conveyancers are more conscious than ever about how long a property transaction takes and want to use legal tech to reduce completion times.
“Whilst some things are out of an agent’s control there are points in the journey they can reduce the overall completion time.
“The time between having an offer accepted and instructing is the first important step to make the journey more efficient for all parties.”
LB Property will also help estate agents to further strengthen partnerships with conveyancing firms.
Mike adds:
“More estate agents partner with conveyancers because of quality of work, reputation, locality, and price.
“Therefore, it’s become a priority for agents to make those relationships work and our new portal provides benefits to both sides.
“Agents can increase referral fees while conveyancers can boost leads.”
Legal Bricks’ new portal adds to its range of products for estate agents, which includes AML ID checking software, source of funds verification, biometric facing scanning for ID checks as well as EPC’s and floorplans.
For more information about the portal and Access Legal’s conveyancing software, please visit here.
Kindly shared by Access Legal
Main article photo courtesy of Pixabay
