A new conveyancing platform is offering to pay agents directly rather than pass referral fees to them for recommending business.
This follows recent crack-downs on non-transparent referral fees within the property industry initiated by TPO and Trading Standards, and threats by the government to legislate on the issue if the industry doesn’t clean up its act.
“WeComplete can be attached as if it were part of an estate agents website, at no cost to the agent, and perform as if it were the agent’s own tool,” says director Daniel Bell (pictured, above).
“Completely branded, it works as an independent quoting tool, available to customers inside and outside of the agents current database. Agents could decide to market legal services as a separate service if they so wish.
“Each customer onboarded through the agent’s web connection will earn the agency a service fee, eliminating old fashioned referral fees, putting participating estate agents out in front of any potential ban.”
“An average agency could easily guide 10 times more legal cases per month with half the effort, in a lot less time.”
The platform also claims to be the first to co-ordinate the work of both agents and solicitors after an offer has been made, and that its tech streamlines and significantly reduces the time it takes to get to completion.
These savings, it claims, will increase estate agency revenue and cash flow.
And the platform manages the whole process digitally including new business generation, quoting, client onboarding, anti-money laundering checks, proof of funds, lender integration and property searches.
It also handles queries, certificates, forms, document filing, e-signature, payment collection, invoicing and all communications between all parties.
“Despite a number of attempts to modernise the process, property purchases are still frequently subject to lengthy delays,” says Bell
“Extraordinarily, this is often caused by parties corresponding by snail mail or waiting for people to meet face-to-face.”