Updated 22 November 21
With over four decades of experience in the residential conveyancing industry, there is no doubt about Eddie’s expertise in the conveyancing industry. Through his expertise, Eddie founded YouConvey to address the common problems that homebuyers face during the transaction process.
We spoke to Eddie to learn how his idea of YouConvey came about and his journey to founding a tech startup working with Nova.
Where did the idea for your startup come from?
Over 40 years of conveyancing for clients I have experienced at first hand, the length of time a typical transaction can take and the stress levels to both the customer and their conveyancer for the delay.
If we leverage technology and give customers the experience to manage most of the admin tasks (which take up to 80% of a conveyancer’s job) this can allow less time to wait and worry and take the pressure off the conveyancer’s shoulders. That was the core idea of YouConvey - a way for customers to play an active role in the transaction when selling or buying a house.
What problems or issues does YouConvey resolve?
The issue is that we have a 19th-century process which isn't fit for purpose for 21st-century clients. Traditional analogue processes do not fit comfortably with the digital age. With so many stakeholders involved in the selling or buying of a house, everyone is working away in their own silos but not necessarily together for the benefit of the end customer.
I was fortunate in that a family member knew of Nova, because it is one thing having an idea but quite another to develop it into a product! I was able to pitch my concept to Nova, who then had the expertise to convert my idea into a working product.
Why does your domain expertise benefit the product/business?
Well for the last forty years, I have built up not just a deep understanding of the process and the market, but also a network of stakeholders and influencers in the industry. As an entrepreneur starting a new business, it is important to be able to reach out and speak to anyone on the inside - even if it is just to be told that something I thought of just won’t work. As YouConvey continues to progress, I realise more and more how important insider knowledge is. It would be much more difficult to get YouConvey off the drawing board if I was looking into the industry as opposed to looking out.
What is your vision for YouConvey?
Plain and simple. My ambition is to create a new model for conveyancing, to make buying or selling a home quicker, easier and much less stressful for everyone involved.
What are some of the successes you have had so far?
Since working with Nova from March, I can’t quite believe how fast everything has moved on. Having started out working on my own in my home office, I now have a full team of startup experts, who have helped bring YouConvey to market (I could not have accomplished this without Nova’s help). Although we are at the beginning with YouConvey, we have done a ton of work to take a share of the conveyancing market by Year 3.
What’s the most important thing about this innovation for you?
For me, it’s really about showing the industry that there is a different and better way of conveyancing. Something which improves the customer journey and has a positive impact on conveyancers workload. I hope that YouConvey will reduce stress through collaborative conveyancing that embraces the digital innovations in the market for the needs of homeowners.
Have you got an idea that could revolutionise your industry? See how Nova could help today.