Brickbro has a clear goal: Differentiate itself from other real estate players by offering its clients a fast, easy, and 100% online sell-purchase process of a property, improving their experience at every stage of the deal.
Parallel helps them to achieve their goal by making digitalization possible and straightforward in every legal document involved. Contract automation has allowed Brickbro to forget paperwork and to streamline efficiency, saving 3 hours in every transaction.
Brickbro is a proptech whose mission is to connect commercial property owners with potential buyers and tenants through its platform, where they use their own technological development to analyze the possible uses or activities of the premises.
It is formed by a young team eager to revolutionize real estate. Since its launch, and with a single round of funding behind it, Brickbro has already managed to expand to more than 15 cities.
We have talked to Andrea Aragall, Legal Counsel, and Félix Muñoz, Sales Account Manager at Brickbro.
A national newspaper earlier this year wrote an article about Brickbro that stated:
“As for its short-term goals, the company plans (...) to launch a platform on its website where the user can carry out the process of buying and selling a property completely digitally. The idea is to digitize from the visit to the signing process at the public notary's office. Brickbro expects to carry out this way 30% of its transactions by the end of this year.”
If you have ever been involved in purchasing or selling any property, you will know the complexity of the process. Nowadays, the whole process consists of a lot of paperwork, from the initial visit to the final signing-off of the public deed (through the sale order, reservation, earnest money, etc.).
In the beginning, Brickbro’s legal department used to write all these documents in Word.
The process was as follows: every time a legal document had to be sent to a client, the sales team would first contact Andrea, Legal Counsel, to give her the clients’ details. With that, Andrea had to draft the document in Word and send it back to sales, which, in turn, sent it to the client. If the client had any comment, that would entail several back-and-forth emails again, both internally and with the client.
Andrea estimates that she spent 15 minutes to 1 hour drafting every legal document, filling it out, correcting or adjusting it, and communicating with sales.
If there are between 2 and 4 documents to be formalized in every single transaction, this implied approximately 3 hours per process.
“As the only Legal professional in the company at that time, I needed to find something that would make my life easier, unburdening me of manual and repetitive tasks and an inefficient process with the sales team. I needed to stop having to do all the legal documents myself and delegate their creation to sales, but with the peace of mind of having clear guidelines and no room for error.” – Andrea Aragall, Legal Counsel.
As Brickbro's turnover increased quarter on quarter, it became increasingly obvious that managing everything through Word and emails wasn't efficient.
“It became increasingly urgent to find a tool that I could really use to standardize and streamline the paperwork involved in our transactions. But I had to find a solution that I could easily roll out. One that would fit my technology skills.” – Andrea Aragall, Legal Counsel.
From the beginning, Andrea understood that Brickbro needed a solution that met these requirements:
With Parallel’s support, Andrea started by creating templates, ensuring that they could be adapted to all variations of agreements. Unlike her previous experience with automatizing contracts, she now found the process fast and painless. Parallel’s intuitive interface checked all the boxes.
In addition, they needed to get each of these documents signed by multiple parties.
Thanks to Parallel’s native integration with Signaturit, Brickbro automated the signing process seamlessly within its contract automatization workflow.
All the above allowed them to digitalize the entire legal process of buying, selling and renting commercial properties from beginning to end.
BrickBro has used Parallel to save time in each legal document, which has allowed them to speed up the overall cycle of the transactions and reach more opportunities.
Any legal document of a transaction is completed by adjusting it to its characteristics according to the options setin a pre-designed legal template, leaving no margin for errors. With just a few clicks, it can be completed and sent for signature 100% digitally.
Now the whole process is streamlined. When the sales reps get the client's data, we no longer depend on legal. We choose the template from Parallel, enterthe information and launch it to sign. Everything in 1 minute. – Félix Muñoz, Sales Account Manager.
Brickbro has transitioned from having two teams involved in a manual and inefficient process to a centralized legal document workflow, where the sales team handles everything and legal only reviews if necessary.
Since I implemented Parallel when we get a new client or a new transaction,I am only involved with particular questions or in the final phase of the sale and purchase process at the notary's office. – Andrea Aragall, Legal Counsel.
They have seen how hours spent on legal documents went from 3 to just a few minutes.
Moreover, Brickbro’s clients get the experience they are promised, a fast and straightforward process that leverages technology to give the best and most efficient service, and a 100% digitalized sell, purchase and renting process.