SearchFlow, a Landmark Information Group business, has announced the launch of two AI-driven solutions to streamline legal teams’ admin and improve efficiencies.
The two new offerings from SearchFlow: Title Data Service, and Interpreted Search will digitise and automate menial and repetitive legal tasks – allowing law firms to maximise their billable hours and save time on every transaction.
Both services will allow law firms to quote more accurately with full visibility of the portfolio risk profile up front, reducing bid costs and saving time on every transaction – with the ability to review a whole portfolio in around 12 minutes on average.
SearchFlow’s Title Data service will accelerate title assessments and enable property lawyers to quickly understand the full title risk profile upfront – allowing law firms to make data-informed decisions. The service is also available with a portfolio view – with complete portfolio rundowns for bulk orders, and at-a-glance portfolio complexity scores for faster analysis.
The Interpreted Search solution will enable law firms to accurately assess environmental risk on title, at scale and at speed, before transactions get underway. Firms will then be equipped with a full-spectrum view of environmental risk, including flood, ground stability, Radon, E&I along with contaminated land assessment, bringing greater efficiency from the very outset of the transaction process.
Thomas Quirke, Landmark’s Divisional Director of Data & Search said that: “We know that over-reliance on time-consuming manual processes can have a significant knock-on effect to a firm’s billing potential, ability to grow, and competitive performance. Conveyancing firms are facing ever-growing pressure to operate at greater volumes whilst controlling risk and minimising costs. Despite this, only 29% of real estate legal firms are using AI and automation in parts of their business.”
Helen Burns, Partner, Real Estate Finance, Brabners said: “One of our latest projects is a 150-property portfolio refinance. Compared with another recent transaction of the same size and scope where we manually processed all of the OC1s, SearchFlow’s Title Data Service has probably saved around £10,000 of our time for the client.
SearchFlow’s newly launched AI-driven search tools – Title Data Service, and Interpreted Search – aims to bring the benefits of AI to Real Estate search to drive down costs and the time taken to complete menial tasks, freeing up conveyancers’ time for what really matters.
Ultimately, AI-based solutions will improve the conveyancing process, and directly impact the speed and efficiency of the property market for industry and home movers alike.”