Breaking Property News – 26/01/24
Daily bite-sized proptech and property news in partnership with Proptech-X.
Sprift reveals solution to Material Information headache for agents
Following the long-anticipated release of the specification for Material Information parts B and C at the end of November by NTSELAT, property data specialists Sprift have unveiled their solution to the challenge agents are now facing around quickly and efficiently collating the property-specific details required prior to marketing a property.
The Sprift platform provides nearly 300 data points for 29.7million residential properties in the UK and can generate a unique dashboard and report for every property to provide agents with 62% of the data required to answer all 59 points of parts A, B and C of Material Information requirements fully, and 87% of the required information either fully or partially.
The Sprift Development team worked throughout 2023 to ensure accuracy and that latest data sets, e.g. instruction type, flood and erosion risk from surface water and coastal erosion, had been included in anticipation of the release last November of the updated Material Information legislation.
With these datasets now fully integrated, tested and live in the Sprift platform, all agents need to do in order to fully comply with parts A, B and C of the Material Information legislation is run a Sprift dashboard or report for the property ready to take to a valuation appointment, then check with the vendor that these points are correct and ask the vendor the following questions to confirm the specific points around their property:
1. What utilities are available at the property and how are they supplied.
2. Details of any parking spaces demised to the property & charges for parking.
3. Are there any building safety issues and if so, confirm details.
4. If any rights and easements exist and if so, confirm the details.
5. If any accessibility/adaptions have been made to the property.
6. If the Sprift platform flags the property has a restrictive covenant, the agent will need to download a copy of the HMLR Title Register in order to confirm with the vendor the exact details of the situation.
Sprift Founder and CEO Matt Gilpin comments, “We’ve been preparing for the rollout of parts B and C of Material Information for over a year, so that we had a solution ready and waiting for agents as soon as the requirements were confirmed by NTSELAT. All the hard work by our Data Science team has now paid off, as we are able to ‘hit the ground running’ with the vast majority of information that agents will require in order to stay compliant available within seconds via the Sprift platform.”
Leaders Romans Group acquires Stirling Ackroyd and Alexander & Co
Press Release – January 23, 2024Leaders Romans Group (LRG) has acquired Stirling Ackroyd, Alexander & Co and Peter Ball, residential sales, lettings and surveying businesses operating multiple branches across London, Surrey, Oxfordshire and Gloucestershire.
The acquisition of these brands adds significant growth to areas LRG already cover but is under represented in, supporting its continued growth plans. All branches will remain under their current brands. Nick Dunning, CEO at Stirling Ackroyd and George Thomas, CEO at Alexander & Co, will leave their respective businesses after a short transition period. All remaining team members will transfer to LRG.
Matthew Light, Group Mergers and Acquisitions Director at LRG, said: “Stirling Ackroyd represents our second largest acquisition with 31 branches, with Alexander & Co’s ten branches also joining the LRG group of brands in the same week. Stirling Ackroyd is a fantastic business that increases our share of the London market, particularly on the lettings side.
“The acquisition of Alexander & Co follows a long relationship with George Thomas, which has enabled us to reach an agreement when the time was right for both parties to work together. The acquisition brings high-quality lettings business and a strong presence in the sales market in the towns where they trade.”
Michael Cook, Chief Executive Officer at LRG, commented: “Starting 2024 with the acquisition of three fantastic, well-known, and respected brands cements our five-year strategy, focusing on growth across the UK. I’m delighted to welcome all new team members to the LRG group.”
Optimising property listings for search engines will help agents cut through the noise
While estate agency will always be a people business, the importance of an online presence and visibility in today’s digital era cannot be denied. Many people will start their search for their next property online, which means agents need to be savvy when it comes to cutting through the noise and reaching the right audience online. A digital presence now plays a pivotal role in the property sector and estate agents need to be innovative and stand out to ensure they reach potential buyers.
According to Ben Sellers, Co-Founder of Starberry, a digital marketing and lead generation specialist under nurtur.group, there are effective strategies that estate agents can use to optimise their property listings for search engines, which will help drive increased visibility and attract the right audience.
He notes that some of the key strategies that estate agents should be using involve the use of relevant keywords, crafting engaging property descriptions, and leveraging local SEO techniques. As property search behaviours evolve, estate agents must adapt their online presence to ensure maximum exposure for their listings.
Commenting on the significance of these strategies, Sellers says: “In a crowded digital landscape, estate agents need to employ strategic and targeted approaches to ensure their properties capture the attention of potential buyers. Keyword optimisation, compelling property descriptions, and local SEO are crucial elements in enhancing visibility and ultimately driving successful property transactions.”
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