CONVEYANCING
Introducing streamlined conveyancing for real estate agents
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
Real Estate Agents lack visibility into the conveyancing process of their clients and can therefore lose control of the settlement and outcome.
Bad advice may put a property transaction at risk. Law&Co is able to provide advice within hours and facilitate efficient release of Deposit monies.
Performance
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 people 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.
As real estate agent, dealing with a conveyancer for every transaction is a headache. With Law&Co there is a central lawyer reducing complexity and correspondence on both sides of the transaction.
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 the agent, 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 the settlement risk.
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 purchaser, from the unsophisticated first home buyer to the sophisticated investor.
ONE PLATFORM
Dashboard Law&Co's Dashboard provides one simple place for clients and agents to see the progress of each jobs. Agents 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 and your solicitors 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 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 has complete transparency and control.
Land / Off-the-Plan
House / Apartment
Title Transfer
Online Portal
Online Portal
Online Portal
Nationwide
Nationwide
Nationwide
All Disbursements
All Disbursements
All Disbursements
$495 +GST
$895 +GST
$595 +GST
Contract of Sale Advice
$150
+GST
Building Contract Advice
$250
+GST
Service Plus
$250
+GST
PARTNERSHIP Law&Co is able to share up to 10% of the revenue generated from Agent referrals. This can be shared in a number of ways, at your discretion. Below outlines the three options:
Revenue Share We can share up to 10% of our revenue with you for every client 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 you.
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 you see fit. Examples include splitting the commission between you and the sales agent, or between you and the client.
IMPLEMENTATION Our technology has been built to enable a variety of ways we can accept referrals from agent's, which are outlined below. It is entirely up to you how you wish to refer us clients. We also 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.
Law&Co proposes implementing a conveyancing offering for the use of your agents at the point of sale. Law&Co provides: 1. A value-add to your Sales Agents
API Integration
Online Portal
Law&Co is able to API directly into your system to provide real time service.
Sales Agent log's-in to our portal and enters basic client information. We take it from there.
2. Reduced settlement risk 3. Seamless online conveyancing 4. Mitigation of operational risks
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.
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