UK News
Property data, insight and technology provider, Search Acumen, today announces a new partnership with Avail, a title document risk analysis platform for real estate lawyers, powered by Artificial Intelligence (AI).
The collaboration between the two proptech firms will combine their respective strengths and mark another step forward in digitalising the real estate sector.
The new partnership enables Search Acumen to combine market-leading property data knowledge, with Avail’s legal expertise, particularly in relation to legal title analysis. These complementary skillsets will allow the partnership to create new products that blend cutting-edge, technological innovation with practical legal knowledge to support real estate professionals.
Since the pandemic, the drive to digitisation has exponentially increased across many sectors, especially in the legal real estate market where delays were rife. Both Search Acumen and Avail report growing demand from both conveyancers and clients for digitised services. This new alliance is rooted in their joint aim to embed technology with the common goal of helping property lawyers by digitally automating tasks to increase efficiency, save time and reduce costs.
Avail specialises in using artificial intelligence to assess legal risk on property titles. Its AI platform is designed to simplify the search, purchase and analysis of HM Land Registry (HMLR) title documents, producing a range of instant client friendly reports. It also accelerates property scoping with cutting edge tools such as an instant digital PN1 search. Avail’s web-based, user-friendly interface makes it an efficient and accessible tool for conveyancers.
Search Acumen also uses AI to its advantage within its end-to-end digital due diligence platform for residential and commercial property transactions. Its technology currently captures over 500 layers of essential property data, digitally and on-demand, allowing conveyancers to analyse transaction sites and portfolios with ease. Search Acumen’s research has calculated that the average conveyancing firm stands to save 115 hours a month through automation, adding up to a saving of more than eight million hours each year across the sector through digitisation.
Its latest Conveyancing Market Tracker highlighted growing demands on conveyancing firms, with annual property transactions having nearly doubled in the past decade while the volume of active firms has decreased by 10% over the same period.
Andrew Lloyd, Managing Director at Search Acumen, comments: “It has never been more important to reduce the strain on property lawyers through technology than it is now. Entering into this exciting new venture with Avail will enable us to accelerate our vision to increase digitisation across the sector. We want to help lawyers do things faster and smarter. This partnership will strengthen our ability to present the most efficient and effective methods to achieve this goal.”
He continues, “This partnership continues our strategy to collaborate with like-minded, innovative firms to give a rounded all-in service to our customers that grasp the possibilities of emerging tech like AI and blockchain. Search Acumen is focused on pushing back the boundaries of 21st century conveyancing to help our clients to support their businesses and ultimately satisfy their clients.”
On the partnership, Dom Conte, Avail’s Chief Product Officer, says: “We’re delighted to be partnering with Search Acumen – a like-minded business poised to innovate the property sector. We know property due diligence is ripe for disruption, and Search Acumen’s vision for using data and AI to turbocharge the industry is exciting. Avail has found a kindred spirit in this philosophy. By combining best-in-class search with best-in-class AI tools, we can’t wait to explore how this partnership will deliver genuinely game-changing services to our customers.”
Further details of Search Acumen and Avail’s collaboration will be revealed in the coming weeks.
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