The majority of Canadians believe that technology is necessary to improve the homebuying and selling process, according to a recent survey conducted by Doormat.
The survey, which gathered responses from over 1,500 individuals across Canada, provides insights into the sentiments of Canadians regarding technology in the real estate industry.
The survey findings indicate that more than half (63 per cent) of respondents feel comfortable engaging with an online real estate lawyer if it would save them time and money during the home buying and selling process. This comfort level increases to 71 per cent among younger Canadians aged 18 to 34, highlighting the preferences of the next generation of homeowners.
Proptech company aims to simplify real estate legal process
In response to this demand, Doormat announced it has successfully raised $1.25 million in pre-seed funding to streamline the legal aspect of the homeownership journey. The Toronto-based company aims to address the need for accessible legal expertise in property transactions by integrating proptech and legal tech solutions.
“When I purchased my first property, I wasn’t aware that I needed a real estate lawyer, and once I went through the lengthy process of finding one, I was confused and uncertain about the entire thing,” said Robert Saunders, CEO and co-founder of Doormat. “This confusion inspired the creation of Doormat, as we set out to simplify the real estate journey. By addressing the critical need for accessible legal expertise in property transactions, Doormat empowers home buyers and sellers with the confidence and assurance they deserve.”
Courtney Cooper, principal at Alate Partners, one of the investors in Doormat’s pre-seed funding round, recognizes the potential impact of the company. Cooper states, “Doormat is re-imagining a crucial, yet often overlooked aspect of the home buying journey: the closing process. The team has the right mix of software development, real estate law, and operations expertise to bring much-needed innovation to the sector.”
Plans for expansion
Doormat’s online platform allows homeowners and homebuyers to fulfill their legal real estate needs conveniently.
With the recent pre-seed funding, Doormat plans to expand its team and extend its presence beyond Ontario, providing broader access to tech-powered solutions and enhancing the overall legal real estate experience.
