The problem
Estate agents and mortgage brokers want a conveyancing figure while the buyer or seller is in front of them, and a referral can go to another firm if yours can't quote straight away. If agents and brokers ring for 60 quotes a month and each call and written quote takes 8 minutes, that's 480 minutes, 8 hours a month.
What the AI does
Hoowla's Conveyancing Quote Calculator works out quotes from your own fee scales. Hoowla says estate agents and mortgage brokers get free and unlimited access to quote on your behalf, staff can generate a quote in under 20 seconds while on a call, and the calculator can also go on your website. It reports on all sales inquiries and handles different fee scales for private referrers. The quote is your fee scale applied to the facts given; the conveyancer confirms the price and any extra work when instructed.
A worked example
A residential conveyancing firm in Swindon gets work from 12 estate agents and brokers, who ring for about 60 quotes a month. It sets up Hoowla's Local Firm calculator with its fee scale and gives each referrer access.
Before
8 minutes per phone quote for 60 referrer quotes: 8 hours a month
After
About 1 minute to check each referrer quote: 1 hour a month
What it's worth
About $279£210€250A$403C$395 a month of staff time, if it is worth $40£30€36A$58C$56 an hour: 7 minutes saved on each of 60 quotes is 420 minutes, 7 hours. The calculator is $233£175€208A$336C$329 plus VAT a year, about $20£15€18A$29C$28 a month, or about $24£18€21A$35C$34 with VAT. Any extra instructions from quicker quotes are not counted.
How to set it up
- Set up your fee scale, disbursements and the extras for leasehold, new build, shared ownership and mortgage work in Hoowla.
- Have your COLP check that quotes show what is included, VAT and disbursements in line with the SRA's price transparency rules.
- Give each agent and broker their access and agree how they pass the quote to the client.
- Record any referral arrangement and tell clients about it, as the SRA Code of Conduct requires.
- Check Hoowla's inquiry reports monthly and follow up quotes that haven't turned into instructions.
What goes wrong
- A quote given by a referrer is still your firm's price. If the fee scale misses leasehold or shared ownership work, clients get a figure you can't honor.
- Referral arrangements must be disclosed to clients and must not affect your independence. Check any payments or benefits with your COLP.
- Quote and lead details are personal data. Cover them in your privacy notice and agree with referrers what they tell clients.
- The Local Firm price covers one location. A second office needs Multi Branch at $299£225€268A$432C$423 plus VAT a year.