Could new website spell disaster for estate agent conveyancing referrals?

Conveyancers are constantly on the lookout for ways to set themselves apart from the crowd.  Is it possible that a new website could help them do just that?
I was recently contacted by Phin Mpofu, CEO of ConveyancingBy.com., who wanted to talk to me about “the most phenomenal website for conveyancers since Google”.  I have to admit, I was intrigued.
Before I spoke with Phin I took a look at the website which states:
“Get the credit you deserve for every property you carry out the Conveyancing for (and any properties Conveyanced in the past*). ConveyancingBy.com is the FIRST and ONLY website in the UK that tracks every single property sold and gives credit to the Conveyancing Solicitor(s) who carried out the Conveyancing. We also run PropertySoldBy.com which gives credit to the Estate Agent who sold the property. Our search engine is built and powered by the 5 Rs. These are Results, Reviews, Rankings, Referrals and Recommendations. Your prospective clients will now be able to make an informed decision about which Conveyancing Solicitor they use. Pre-register below for the beta launch, enter your email below. *Special complimentary gift for all pre-registrations.”
Phin explained that the service would work for conveyancers, ensuring that they get the credit they deserve on each property they transact.  Firms will purchase credits which will allow them to have a page created on ConveyancingBy.com’s website detailing the transaction carried out.  This will effectively act as a reference for conveyancers, enabling prospective clients to find them direct rather than through estate agents.  
The website is billed as the “first aided decision making search engine (ADSME)” powered by the five Rs, results, reviews, rankins, referrals and recommendations.  The idea behind this is that the more properties credit is taken for, the more each firm’s exposure increases, reducing the need to rely on referrals from estate agents.
Of course, profit margins on conveyancing are already much lower than they should be but what if this actually works?  The plans are big but I will be waiting to see if the predicted results can actually be delivered?
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