18236 photo: © sdecoret – fotolia.com
the real estate law firm KFR plans to use IT-based tools to make the client work more efficiently and economically. KFR-partner Thilo Franke is convinced that no alternative to the software support passes.
The firm KFR Kirchhoff Franke Riethmüller will continue to apply IT solutions in the field of real estate asset management in particular. Even though the software is under development, the lawyers involved on content side of it.
LTO: What is your motivation to develop your own software?
Dr. Thilo Franke: In the field of real estate law advice to the use of software is still not very common. In particular in asset management but worth it because there are plenty of recurring tasks here. In our chest two minds: We want both the high demanding – and thus higher-priced – offering transaction advisory, as well as the cost-effective, ongoing consultancy in asset management and litigation based on the RVG. But it is here are the realized hourly rates, particularly in small claims volumes, often very low. Asset management advice and litigation are for us a new field of activity and we work there often for new customers, we want to open up like.
In addition, our business is very volatile. The real estate market suffers repeatedly crises that we feel legal counsel immediately. As we made our own, we have therefore to consider how we deal with this uncertainty. We carry not only the responsibility for ourselves but also for our employees. That is why we want to balance the crisis-prone transaction business with efficient and less expensive asset management and legal representation.
“We are planning a modular system”
LTO: In which areas IT tools suitable for client work?
Franke: In principle, procedures and processes that are repeated regularly are. Some themes keep coming back to the table and could be relatively easily automated, without the quality of advice suffers. In real estate law, for example, there is payment, clearance and utilities actions that are provided with the same formulations.
We work together with an IT company an app, which is an algorithm that is designed to help us, standard briefs and standard contracts to write. The client will enter the essential information in the app. The basis is that we have found in the processing of our mandates that the same questions are almost always that we make as a lawyer and answered the client. Suppose a draft tenancy agreement: In addition to the person of the tenant, the designation of rental space and the amount of the agreed rent, there is a certain number of other aspects, be negotiated again. When this data is already in digital format, is the design of the lease from the processing of this information, a lawyer must act without. Many things can be answered with a simple ‘Yes’ or ‘No’, or a number or a date. So we present a type of modular system.
LTO: Are IT tools particularly attractive for smaller firms?
Franke: IT tools are useful for each firm size, since they help to save time and costs. For smaller firms is of particular interest in standard tasks that are collected separately from Associates. And large firms would benefit. Because they are very good at creating huge, self-sustaining systems. Since sitting in some firms twenty lawyers in backrooms and eat mountains of paper. This need not be so. Fewer and fewer clients are willing to pay exorbitant hourly rates.
“If it did not, it was worth a try”
LTO: to let New software itself develop, sounds expensive and complicated. How do you deal with as a founding partner of a fledgling firm?
Franke: In the beginning, of course, suggests that investment in IT development to beech, as well as their own work. Because we are heavily involved in the content development. In the medium term, the investment is expected in the platform but, we want to make money. However, the development costs are manageable. And if it does not work, then it was at least worth a try.
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