How Least is improving the commercial leasing experience for legal professionals.
At Least, we are often asked how our technology improves the leasing process for real estate professionals, and how it can benefit them in terms of time and costs saved.?
However, it’s not just real estate professionals that stand to gain from the Least platform. Whilst legaltech is gaining a foothold throughout the legal sector, our technology intersects with both real estate and law to create an attractive proposition for legal professionals working in real estate too.
Any lawyer or agent working in property will be all too familiar with the delays caused by an underservice of technology; those endless back and forth exchanges that frustrate stakeholders on both sides of the deal, even after heads of terms have been agreed. With Least, our tech smoothes the collaboration between the landlord, their agent and lawyer from the outset, ensuring all parties agree on standardised templates and language, cutting the frustrating queries that always crop up further down the line.
So how do we do it? Firstly, we have developed a unique readiness engine that provides lawyers with a ready-to-use letting pack, cutting the time taken by the landlord’s lawyer to issue a set of documents to the tenant’s lawyer. We work closely with the landlord’s lawyer throughout to ensure all needs are met early in the deal, rather than causing bottlenecks further down the line.
Deadlines loom large in the legal profession and, without a centralised tech hub for deals, are often missed. In response to this, Least helps lawyers meet key deadlines by alerting them to upcoming instructions. This allows for even distribution of work and capacity planning. Additionally, Least also automates our clients' leases, helping lawyers issue documents faster.
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These are just some of the ways that we are making the life of real estate lawyers a whole lot easier, but we don’t plan to stop there. We continue to work closely with lawyers to understand their pain points, and build features that enable them to work faster and better, just as we have with landlords, tenants and agents.
Our recent ￡1.5 million seed funding round, led by Love Ventures and backed by Concrete VC, will allow us to introduce new features aimed at offering even more support to legal professionals. Managers at law firms will be able to use Least to distribute work to their teams on the platform. Workflow tools will allow teams to track documents, improving stakeholder transparency, and allowing lawyers to provide clients with standard clauses as early as possible to ensure collaboration from the beginning.
Ultimately, it all ties back to our mission: to improve the experience for everyone involved in the entire commercial leasing cycle.
?If you’re a commercial leasing lawyer and want to save time and hassle, give us a shout! You can email us at [email protected]
European Head of Real Assets Equity Aegon Asset Management
2 年I’d add that I imagine that for solicitors working on fixed fee rates, long drawn out leasing negotiations are very unprofitable which perhaps answers my previous question.
European Head of Real Assets Equity Aegon Asset Management
2 年Do you expect solicitor’s remuneration for leasing deals to change when Least is utilised? The product certainly improves outcomes for landlords and tenants but have you met with resistance from solicitors with leasing revenue streams at risk from automation?