"Despite innovative technologies being successfully embraced elsewhere in the property sector, the completion process often remains inefficient and unsatisfactory for all involved."
A new digital property completion platform promises to enable a "dramatic reduction" in the time spent processing property sales.
WeCOMPLETE will co-ordinate the work of both legal teams and estate agents.
The end-to-end solution includes new business generation, quoting, client onboarding, anti-money laundering checks, proof of funds, lender integration, property searches, queries, certificates, forms, document filing, e-signature, payment collection, invoicing and all communications between all parties.
The platform will integrate into legal teams’ own websites, with all WeCOMPLETE products available in a white label format. It also enables solicitors to compete for cases locally and nationally via a comparison quoting tool connected directly into partner agents’ websites.
Instruction is fully automated, and payment on account is securely collected through the system. Contractual documents can also be uploaded securely to WeCOMPLETE, sent to external parties for electronic signature, and are instantly filed within the case profile when returned. With all activity conducted through the platform, a property logbook is naturally formed.
WeCOMPLETE also provides legal teams with the ability to communicate with other legal teams, clients and interested parties in real time via an array of in-built communication tools, such as instant messaging and audio and video conferencing.
A suite of varied permissions enables relevant parties to assist or comment on a case, enabling them to follow the conversation between the teams, while a simple calendar system makes it easy to see when an action is likely to take place and when it is complete.
Other parties involved in the chain – the legal and agent team on the other side of the deal and their client – can be invited to track the progress of a case through WeCOMPLETE.
WeCOMPLETE encourages estate agencies to become an active part of the property completion, by uploading the property details, EPCs or aiding in communication throughout the case. The platform rewards agents financially for their services, eliminating the need for a referral fee.
WeCOMPLETE says its platform will be fully operational and available to all legal teams UK-wide this autumn.
Amy Simmons, CEO of WeCOMPLETE, commented: “Despite a number of attempts to modernise the process, property purchases are still frequently subject to lengthy delays. This is because technology until now has only aided small parts of the process, effectively creating more work. Our platform, on the other hand, can be used to case manage end-to-end, or assist where required, helping legal teams reduce effort and increase efficiency simultaneously.
“Despite innovative technologies being successfully embraced elsewhere in the property sector, the completion process often remains inefficient and unsatisfactory for all involved.
“This is because the completion process is inherently complex, particularly when long chains are involved, which has made it extremely difficult to develop a solution that works for any transaction.
“Offering speed, efficiency and seamless communication from quote to completion, WeCOMPLETE has been meticulously designed to tackle this complexity, and make a tangible difference to property professionals and their clients, regardless of the nature of the transaction.”