6:30am Tuesday 31st August 2010
By Matt Smith
AN eBAY inspired website that could cut the cost of legal advice has been launched by a Hampshire firm.
Bid4fees turns the tables on the traditional way of finding and paying for legal advice by getting lawyers to bid for cases in an online marketplace.
The new website was founded by Hampshire barrister Kevin Cruise and former Brockenhurst College student Lauren Bradley, who put off going to university to become managing director of the fledging business.
They reckon it could save hundreds if not thousands of pounds of the cost of legal advice from dealing with divorce, a house sale or purchase; to buying or selling a business, or drafting a will.
The site could be a boost to independent lawyers, many of whom have been struggling in recent years, despite a boom in fee income for the wider legal sector.
Since it launched without any advertising just a few weeks ago more than 100 cases have been listed in various categories all receiving bids.
More than 2,200 lawyers throughout the UK have registered with the site and licences have been agreed for seven countries Ms Bradley, who came up with the idea while using eBay, said: “Despite the fact that due to online facilities it is no longer necessary to visit your lawyer, we tend to compromise our choices and our pockets by looking no further than the local high street.
“The choices provided by bid4fees mean y o u r instructions are av a i l - able to e v e r y l awye r in the UK and competition for your fees is fierce.”
Mr Cruise added: “The feedback we have received has been astonishing.
Lawyers have been extremely positive and complimentary, providing additional ideas to enhance the site and generally applauding the concept.”
“We like to think that it will somehow democratise the legal services market.”
The site allows anyone to “safely and confidentially” list a legal problem for free and for lawyers to make fixed fee bids for the case.
Before submitting a bid lawyers can use a secure messaging facility to make contact with a potential client to learn more about the case.
Clients are free to choose any bid and bid4fees takes a ten per cent cut of the successful bid price.
The clients are then encouraged to provide a feedback rating about the lawyer they have chosen.
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