CONVEYANCING PROPOSAL
WHO WE ARE Law&Co is a NewLaw firm established to disrupt conveyancing through technology and an unwavering commitment to client service. Conveyancing Evolved.
Law firms are strange businesses. They’re stuffy, expensive, and full of people who seem to speak another language. As a consumer of legal services you very rarely have a true understanding of what goes on once you instruct your lawyer, and your bill has too many numbers on it… Why is it that they need those plush offices on the 50th floor? Law&Co is different. It was established by commercial business people with long histories in the legal, consumer-facing and property industries. But it’s not about them; it’s about the buyers and sellers of property who just need someone to execute the transfer of their property without all the rigmarole. Law&Co is youthful, vibrant and affordable and our technology does the heavy lifting. We don’t charge our clients for every phone call, we speak plain English, and we give our clients complete visibility into the conveyancing transaction so they know what’s coming and when.
INDUSTRY ISSUES There are approximately 450,000 property transactions in Australia every year. This means there’s about 900,000 annual conveyancing transactions (both the buyer and seller of the property need their own conveyancer). The conveyancing industry is highly fragmented with varying degrees of service being provided and inconsistent fees charged to the consumer. In turn, consumers experience those issues outlined to the right of this page. Law&Co’s is a national, consumer-facing brand for conveyancing services. With our robust technology platform that delivers exceptional service as well as innovative fee structures, our clients are in control of the process and are paying reasonable and clear fees.
Transparency
Advice
Clients and Referrers lack visibility into the conveyancing process and can lose control of the process and outcome.
'Conveyancers' are unable to provide legal advice because they're not lawyers, which can put your client's property purchase at risk.
Inefficient
Stressful
Settlement dates are often at risk due to the inefficiency of the conveyancer. In fact, 1 in 5 settlements are delayed (PwC).
1 in 3 clients find the conveyancing process stressful (PwC). In our view this is because of the other problems outlined here.
Unclear Fees
Consistency
Large variances in fees, sometimes with hidden costs (i.e plus disbursements) and with limited justification.
The Australian conveyancing market is heavily fragmented with the largest player holding approximately 5% nationally.
HOW WE SOLVE IT Transparent We're taking the traditional legal service from the physical world to the digital world - our technology sets us apart. We replace physical interactions with an online user interface, software integrations, electronic documents (including e-signatures) and remote VOI. This means the client, and their referrer, can have real-time visibility into the progress of the conveyancing transaction and access relevant documents whenever they need. Law&Co is a law firm, not a conveyancing practice. We can provide legal advice to your clients and ensure that they're receiving proper service. This may mitigate certain risks for your business.
Digital
The business is built on a set of metrics whereby a pool of 'flexi-staff' flex with volume on demand. Our technology provides them with highly standardized and automated systems that drive efficiencies and reduces the time it takes to perform the work. In turn, you can be confident that settlement will not be delayed and their loan can be effected as planned.
Cost Effective
nt e r fe
dif
Scalable Workforce
we are
Our prices are fixed, inclusive of disbursements, national and enable the client to choose exactly what additional services they want. Our prices reflect the different property types and satisfy the different types of borrower, from the unsophisticated first home buyer to the sophisticated investor.
ONE PLATFORM
Dashboard Law&Co's Dashboard provides one simple place for clients and you to see the progress of their jobs. Our partners can manage their referrals and add new jobs into the system with a few clicks.
Download Documents Document availability is one of the major issues with the traditional conveyancing process. All documents that may be required by the stakeholders of a conveyancing transaction are made available in the Law&Co portal.
Automated Reminders Our platform is built to automatically provide important communication. We are in touch with our clients sooner and more effectively than traditional lawyers.
Traffic Lights Every job has a traffic light progress tracker that lets everyone know what needs to happen next, in real-time.
PRICING
There are vast differences in pricing across Australia for conveyancing services. Often, consumers will be charged an amount for ‘professional fees’ and an additional amount for ‘disbursements’. These amounts don’t typically don't change for the different types of property. Law&Co is innovative in the pricing space. Our prices are fixed, inclusive of disbursements, national and enable the client to choose exactly what additional services they want. No hidden fees, no surprises, and the consumer have complete transparency and control.
Land / Off-the-Plan
House / Apartment
Title Transfer
Online Portal
Online Portal
Online Portal
Auto Reminders
Auto Reminders
Auto Reminders
All Disbursements
All Disbursements
All Disbursements
$495 +GST
$895 +GST
$595 +GST
Land Contract Review
$150
+GST
Building Contract Review
$250
+GST
Owners Corporation
$150
+GST
NSW
$150
+GST
PARTNERSHIP Law&Co is able to share up to 10% of the revenue generated from partner referrals. This revenue can be shared in a number of ways, at your discretion. Below outlines the three major options:
Revenue Share We can share up to 10% of our revenue with you for every client referred that completes a property transaction. We direct you to the page in this presentation which outlines our fee structure which may assist you in ascertaining the value of these commissions to your business.
Discount Law&Co can pass on the above commissions directly to the client in the form of a discount on our standard fees.
Split Law&Co can split the above commissions as your business requires. Examples include splitting the commission between staff and management or between your business and your client.
IMPLEMENTATION Our technology has been built to enable a variety of ways we can accept referrals from partners, which are outlined below. It is entirely up to you how you wish to refer us clients.
Law&Co proposes a conveyancing partnership with your business, providing:
We have robust reporting capability whereby reports can be provided to you in a variety of ways, from a simple CSV file via email to direct integration into our system which enables real-time reporting.
1. A seamless conveyancing experience
API Integration
Online Portal
Law&Co is able to API directly into your system to provide real time service.
Broker log's-in to our portal and enters basic client information. We take it from there.
CRM Export
Email / Call
Inclusion of a simple button in your system and the basic client data pushes to Law&Co.
Email client's contact details or 1300 776 775 is available at anytime to take referrals.
2. A value-add to your business 3. Mitigation of operational risks 4. Reduction of transactions that do not proceed to settlement
w: lawandco.com.au a: Level 5, 570 St Kilda Road, Melbourne, 3004 t: 1300 776 775 ABN: 23 608 328 963
Max Hood P: General Manager m: 0410 629 945 e: max@lawandco.com.au
Gerard Healy p: Director m: 0408 003 037 e: gerard@lawandco.com.au