Auctions and property services group Iamproperty is to launch its new combined AML compliance and conveyancing service Movebutler this Spring which will reduce time taken to transact a property sale by approximately 17 days.
Iamproperty says it expects to formally sign up three of the biggest corporate estate agencies by the time the platform formally launches.
Its Group MD Ben Ridgway (pictured) tells The Negotiator that 750 branches, including customers of its subsidiary auction arm, Iamsold, are already signed up.
He says its benefits make the service a ‘no brainer’ because it removes approximately 90% of the administrative tasks faced by agents when selling a home and eliminates many of the delays caused by conveyancing hiccups.
The service is an onboarding platform for buyers and sellers that ties them into a single online journey and incentives them to be better prepared and informed, bringing together agents’ seven key revenue-generating opportunities into a single, digitised AML-compliant process.
“This includes mortgages, surveys, conveyancing, legal pack, auction and probate services, all of which is served up in a digestible way so that agents have the time and opportunity to act and generate more revenue,” says Ridgway.
“All agents monetise the journey already by selling additional services, but Movebutler will squeeze the lemon harder.”
Ridgway says one of the key attractions of the service is that it automatically downloads and checks Land Registry title for a property, something an agent not doing can lead failing an HMRC audit.
“Approximately half of the agents I talk to don’t do this because of the £3 it costs them each time, but we’re offering that as part of our service,” he says.
“But our system can spot problem early – for example if an extension has been built without building regs.”