Ownright, a pioneering legal technology platform, is transforming the way real estate transactions are conducted in Ontario, Canada. Co-founded by Robert Saunders, the company aims to simplify the legal complexities of property deals through innovative digital solutions.
Background of the Founder
Robert Saunders, who grew up in Toronto, developed a passion for technology during his high school years. “I started teaching myself to code and eventually launched a few apps,” Saunders recalls. His academic pursuit in Computer Engineering at Queen’s University led him to a career at Shopify as a software engineer. “But at my core, I’ve always been a builder,” he says, explaining the inspiration behind Ownright.
The Birth of Ownright
The idea for Ownright stemmed from Saunders’ own home-buying experience. “I was surprised to learn I needed a real estate lawyer,” he shares. The cumbersome process motivated him to create a more efficient solution. “Our goal is to make real estate transactions faster, clearer, and more consumer-friendly,” Saunders states.
Key Offerings
Ownright provides a digital-first legal experience tailored for residential real estate transactions.
– Property Closings: Clients navigate the closing process with clarity and confidence, tracking progress in real-time.
– Mortgage Refinancing: Simplified legal procedures with transparent pricing and responsive support.
– Status Certificate Reviews: Condo buyers receive expert legal insights to understand their commitments.
Challenges in a Regulated Industry
Operating in a heavily regulated industry is not without its challenges. “Real estate is one of the biggest financial decisions people make,” Saunders notes. Navigating licensing requirements and building consumer trust were significant hurdles. “We’ve learned how to move quickly without cutting corners,” he adds.
Technological Evolution
Since its inception, Ownright has made significant technological advancements. “We’ve built more automation into our workflows,” Saunders explains. The launch of Canada’s first digital Status Certificate Review marks a milestone in their journey. “Ownright makes them transparent, accessible, and easy to understand,” he emphasizes.
Significant Milestones
Ownright has achieved remarkable milestones since its launch in 2023:
– Facilitated over 1,500 transactions.
– Processed more than $1 billion in transaction value.
– Expanded from 3 founders to a team of 25+.
– Successfully rebranded from Doormat to Ownright.
– Raised $4.5 million CAD in a seed round.
Differentiation in the Market
What sets Ownright apart from competitors is its consumer-focused approach. “We’ve taken a ‘friendly neighbor’ approach to legal services,” Saunders describes. The platform offers clear communication, transparent pricing, and flexible digital tools, rethinking the entire experience.
Future Prospects
Looking ahead, Ownright envisions becoming the go-to legal platform for major property decisions in Canada. “Our goal is simple: make real estate transactions simple,” Saunders concludes, outlining plans for expansion and technology enhancement.
Note: This article is inspired by content from https://pulse2.com/ownright-profile-robert-saunders-interview/. It has been rephrased for originality. Images are credited to the original source.