Friday 06 December 2013
Hopefully this is a relatively straight forward proposition.
As blunt as this sounds there's a food chain involved in the property market. A prospective buyer or seller will seek the services of an estate agent or mortgage broker to help them sell, buy or organise funding. You're at the front of the queue of people to speak too and are ideally placed to promote lawyers. You know this already.
Some agents and brokers don't seek referral fees from the solicitors they recommend. The majority do. And the process stops there.
There's money to be made in generating the Property Searches that a purchase generates. Our perspective is that you should benefit from this income, too.
Depending upon the size of your business, and the case numbers you refer to your existing solicitors, you're in an ideal position to leverage reasonable volumes of Search work. ie. you've got something the solicitor wants.... new clients.
Some solicitors may only give you the searches your cases generate whilst others might give you all their work. Only five sets of searches per day could equate to an extra £90,000 per annum to your current business...
You might also want to generate a range of other legal services, as part of a LBL franchise, from which you can profit. They could include;
•White label Conveyancing (using either our brand or a name of your choosing).
•Residential & Commercial Conveyancing referrals
•Wills & Probate referrals
•Mortgage referrals (we'd organise a deal with a local broker who'll fee share with you).
•Subject to Ministry of Justice approval, and adherance to the relevant guidelines, you could generate Personal Injury & PPI cases.
Additionally, and you may have considered this already, we could work with you to source lawyers who'd set up a conveyancing practice to run alongside your current business. One stop shop territory.
If you have one member of staff you can task to this project and would like to discuss this scenario further please don't hesitate to contact me me via 0845 603 0708 or firstname.lastname@example.org