ENCOURAGE THE USERS TO LEAVE
LET THEM KNOW WHAT KIND OF CONTENT THEY WILL RECEIVE.
Put in some details about your campaign and list the reasons to sign up.
Don’t forget the final call to action.
Providing a great service experience for conveyancing Clients AND the referrers of those Clients is difficult. Client, Broker and Agent (who probably refer many Clients to you) are all anxious the deal will fall through. It can fall out of bed at any stage until you have given a full report on title to your lay-Client, and they are satisfied to action Exchange.
More than 1 in 3 offers fail to Complete. A significant proportion, because of lack of mortgage finance… but the rest fail between mortgage offer and Exchange; the period when the Conveyancer is reporting on Title to his Client. This may be for many reasons, and almost certainly not the Title (fewer than 1% fail because of a defect in Title).
This is no fault of yours, and is completely unrelated to the quality of the conveyancing service you have provided. Regardless, it has the potential to fatally undermine the customer service experience of Client, Agent and Broker. It has the potential to upset referral relationships, and to damage your business.
Gazeal is a new way of managing these conflicting interests, improving the conveyancing service for all.
How does it work?
The Gazeal product is simple – it is a lock-out agreement backed by Title Insurance. What is slightly unusual is that the agreement is made between three parties; Seller, Buyer and Gazeal Ltd. The terms of the Gazeal lock-out agreement are that the Seller agrees to sell, and the Buyer agrees to buy on receipt of confirmation from Gazeal Ltd that the Title is good and marketable, and that Title Insurance will be issued for the benefit of the Buyer on Completion. This provides the Buyer with peace of mind for the duration of their ownership of the property, and protects against any Title defects.
Solicitors as a Key Stakeholder
Gazeal does not change any aspect of the conveyancing process. When confirming that the Title is good and marketable, we rely upon your advice to us that it meets the standards set in the “All Risks” policy that will be issued on Completion. You provide this advice to us in the form of a “Conditions Precedent Letter”. The “All Risks” policy is underwritten for us by Dual Corporate Risks*.
The advantage to your Client is that following signature of the Gazeal Agreement (which is signed on the Buyer’s funded offer being accepted by the Seller):
You will, of course, have to advise your Client on the terms of the Gazeal Agreement, so we have produced a standard letter of advice for you to adopt, or adapt as you see fit.
In all other respects the process of investigation of Title, Exchange and Completion remain unaffected by the Gazeal product. You continue to handle all aspects of the process as you do now.
We have a full suite of indemnity products to remedy most defects. If these do not remedy the defects, both parties walk away and we return our fees.
Will this work for all Clients?
There will always be Clients with specific requirements that are not satisfied by the “Good and Marketable” test – they may believe they suffer from headaches brought on by wireless signals, or rheumatism by being near to main water and soil services. We advise Clients that, if this is the case, this service is not for them, and we would expect you, as their conveyancer, to similarly advise them.
There will also be other Clients who have made on offer that has been accepted, but they have in reality a qualified intention to proceed. We advise them that this service is not for them, and we would expect you to similarly advise them.
How does this improve the general experience of my service?
Because Buyer and Seller are bound on an Offer being accepted, so there is no risk that the deal will fall through prior to Exchange. Agent and Broker know that there is no risk that they will not receive their commission – Gazeal removes the conflict of interest between acting in your Client’s best interest and the commercial interests of the person who has referred them to you that causes so much anxiety.
Gazeal Limited has an unrivalled track record in creating and delivering bespoke Title services for the property sector, legal profession and insurance underwriters.
The company is run from London by entrepreneurial solicitors that have completed thousands of Title deals similar to this on UK homes over the last 5 years.