Veyo, the new conveyancing portal developed by The Law Society and IT firm Mastek UK, wants to hear from estate agents on how they believe the home buying and selling process can be improved.
The first release of Veyo - unveiled on Estate Agent Today in October - is scheduled for the spring and is likely to be restricted to conveyancers and their buyer and seller clients. If all the conveyancers in a chain join the system, it means progress can be monitored on where delays are located.
Veyo is undertaking a survey, available here for all property professionals including agents.
Conveyancers using the service will be presented with an on-screen dashboard that will show all active cases and their statuses. Each case will have a dedicated screen showing a detailed overview of each property transaction and the progress towards completion. A calendar will show scheduled tasks, key dates and reminders.
Other pages will provide users with an overview of all their transactions, plus messages and activity updates to help keep all cases on track.
Veyo's online deal room' for each case will allow the two conveyancers acting for the buyer and seller to submit and chase-up documents. There will be an automatic audit of all changes.
Estate agents will be able to use the chain view' for each transaction which will show the exchange/completion status of each property in the chain online, and in detail, if firms on the other transactions have chosen to disclose them to the portal.
Automatic case management' systems will be set by the system, meaning it will identify what the next legal steps are in a chain and who needs to take them. Information will be transparent for conveyancers and their direct clients, but all conveyancers, sellers and buyers elsewhere in the chain will have some level of access to monitor progress elsewhere in the chain whilst still maintaining appropriate levels of confidentiality.
Elliot Vigar, Veyo's chief executive, says he is committed to improving home buying and is actively seeking estate agents' views to help shape change in the market for the future.
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Comments
What would help the conveyancing process immensely is if the solicitors involved actually picked up the phone every now and then.
"If all the conveyancers in a chain join the system." That's a pretty big IF.
Super idea!