How technology is giving lawyers the edge on advising in real estate
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One of the key differences between Newmanor Law and mainstream law firms is that we actively embrace new ways of working and, in particular, the use of technology.
For many firms, technology is a threat to their fee income because doing deals quickly reduces chargeable hours which translates to smaller bills. At Newmanor Law, our fees are genuinely fixed so it is in our interests to get the deal done swiftly. From our experience, the technology we use helps us to do three things: (1) complete real estate transactions more quickly (2) collaborate better as a team and with clients and (3) build trust and stronger relationships with clients and contacts. These things give us the edge when advising in real estate.
Why does technology help us complete real estate transactions more quickly?
The traditional relationship between clients and law firms is over, though many firms seem not to have realised. Clients need law firms to be responsive, fast, and efficient and clients should not have to put up with transactions that drag on for months. As a team we utilise tech to get real estate deals done quickly. Wherever possible, we complete our transactions using an electronic signing platform, which enables us to get deals done swiftly and smoothly, reduces admin and increases convenience for our clients. We also like using tech such as Orbital Witness, which drastically reduces the time it takes for us to build a detailed understanding of the properties we are working on. Our approach makes us more efficient and agile and as a result we can get results faster than others. As for other real estate law firms, their adoption of tech varies and some firms are even still insisting on using wet ink signatures, even where the Land Registry accepts e-signatures, which slows transactions down.
Why does technology help us to collaborate better as a team?
Tech such as HighQ and its data sites and workflows has also transformed the way we engage with our clients and colleagues, as we are able to collaborate and share documents easily and securely through a cloud-based system. We also use Teams to stay connected whilst working remotely and it enables us to continue to bounce ideas off each other to find faster and more efficient solutions for our clients and their real estate transactions.
Why does technology help us build trust and stronger relationships with clients and contacts?
We’re all about a different approach; one that puts our clients and contacts at the centre of everything we do. As a result of the tech we use, our clients and contacts can trust us to deliver a responsive service.
We are here to help
The experienced team here at Newmanor Law, specialists in commercial property legal advice, have the tech to get deals done quickly. Please speak to James Dakin on +44 (0)207 464 4082 or email firstname.lastname@example.org or Karen Mason on +44 (0)20 7464 4081 or email email@example.com to find out more.