A conveyancing platform that enables buyers, sellers, conveyancers and estate agents to track an entire chain of transactions in one place is being tested in Kent, it has been revealed.
Called Adoor, its chief executive Michael Wadsworth, says the platform will learn from previous attempts to build a ‘whole transaction’ conveyancing platform, in particular the high-profile failure of the Law Society’s Veyo system.
Like other sales progression and conveyancing platforms including Mio and Spaciable Legal, adoor says it offers all the players in the conveyancing chain greater transparency and also better communication between parties.
Wadsworth says Adoor was being tested by two law firms and two estate agents in Tunbridge Wells before a wider roll-out next month.
The platform will generate revenue via fees paid by estate agents and conveyancers on a per transaction basis, although until later this year it is being offered for free.
Wadsworth says he plans to raise money through a funding round also to be launched later this year.”
Co-founder Ian Jones of legal firm Cripps Pemberton Greenish in Tunbridge Wells told the LegalFutures website that: “We’re offering something that improves conveyancing and increases the amount of knowledge a buyer and seller have, but we’re not asking anyone to change the way they work.
“Buyers and sellers expect immediate answers. The number one complaint about conveyancing is lack of communication. This gives people answers they can trust and understand.”