Getting it sold

We all know the property market has been buoyant to say the least over the past few of months following Lockdown 1.0, house prices have risen at the fastest rate since 2016 to an annual growth rate of 7.2% . This demand has seen mortgage applications at a 12 year high according to Halifax. This is great news for estate agents with many reporting record breaking volumes of properties under offer, however that’s only half the battle…

Under Offer

Under offer properties are great news, however as we know the majority of estate agents don’t get paid until the sale completes. This is an area which has had much debate over previous weeks, an ever expanding pipeline of properties SSTC with an ever decreasing funnel of conveyancing to get sales through before the Stamp Duty holiday deadline on 31st March. Its estimated that around 325,000 sales currently under offer will miss out due to the ever increasing time to complete according to Ian Mackenzie.

Fall throughs

Its estimated around £650m is spend per annum on failed transactions in a ‘normal’ year, last year fall throughs stood at 24% but Twentyci estimate that fall through rates could reach 53% by March next year. The importance of offsetting and securing those pipeline sales is becoming more and more prevalent to estate agents to secure their fees. This brings us to our next point, the importance of efficiency…

Efficiency

Now more than ever its vital for estate agents to ensure they have the most efficient conveyancers acting for their clients if they face any chance of completing the pipeline of backlogged sales, with many solicitors having reduced staffing levels and operating remotely the role of a conveyancer is certainly being tested. Communication is key across all vested parties in a transaction and this has long been a critical factor to ensuring successful completion. Consumers are now being faced with longer than average timescales in legals and not being able to contact solicitors for updates will certainly be invoking panic amongst some home movers.

Confidence and Communication

Transactions and indeed the wider property market is based on consumer confidence, estate agents need to embrace everything in their power to give both buyer and sellers confidence of sale. There are always going to be fall throughs due to the highly fragmented conveyancing process and the amount of external factors which play a part in a successful transaction. However, the main reason for fall throughs in 2019 was buyer changing their mind (34%), as we go into a tight deadline with already precarious sales in the pipeline, what level of importance are agents putting on securing the sale early? If on average 34% of sales falls through because buyers change their mind, without a significantly valid reason, then this will ultimately lead to the sale being lost due to timescales involved to find another buyer.

BreezeMove

BreezeMove is a sales completion platform which aligns all parties in the property transaction end to end from offer to completion. Through innovative technology BreezeMove gives 24/7 live progress updates to estate agent, buyer, seller and both parties solicitors via key checkpoint milestones. Providing security of sale is key and with BreezeMove’s Lock in agreement buyer and seller have confidence of sale from the start of the process. By providing much of the required upfront information prior to conveyancers being instructed, such as ID, AML, BASPI questionnaires, this enables the transaction to be handled in the most efficient manner. The best part is that BreezeMove is FREE to estate agents… in fact you receive a £500 referral fee for every successful completion. No contract and No minimum commitment – along with the significant benefits of faster completions, reduced fall through rates and better communication for consumers, BreezeMove is also helping agents win more listings by offering this service upon instruction and many vendors now using as a condition of their sale. Click HERE to find out more and join today for FREE.

Contact@breezemove.co.uk

www.breezemove.co.uk

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

First-time buyers get more market town for their money in the Midlands

Leek, West Midlands is the most affordable market town for first-time buyers, at an average £191,359 Immingham, Yorkshire and the Humber most affordable for all buyers, at £176,918 Overall, average house price in market towns now £363,456, up 5% in the last year and 24% in the last five years First-time buyers paying an average…
Read More
Breaking News

Placemaking around rail is a winning blueprint

The Government has announced that around 40,000 new, high-quality homes will be built on surplus railway land, as the Transport Secretary, Heidi Alexander, unlocks brownfield sites across the country for development. Richard Beresford Chief Executive of the National Federation of Builders (NFB), said: “The Government has a chance to set a new standard in placemaking…
Read More
Rightmove logo
Breaking News

Rightmove: Average two-year and five-year fixed mortgage rates now level

Rightmove’s daily mortgage tracker shows that the current average two-year fixed mortgage rate is currently level with the average five-year fixed mortgage rate.   Both the average two-year fixed rate, and five-year fixed rate are currently 4.52% Prior to July 2025, the last time this was the case was in September 2022 before the mini-Budget…
Read More
Breaking News

UK Homemovers Relocating Over 50 Miles

UK Homemovers Now Relocating Over 50 Miles as Buyers Seek Better Value Beyond the City The latest research by GetAgent Exchange, a platform enabling estate agents to monetise out-of-area applicant leads, has found that UK long-distance movers are now relocating an average of 52 miles from their original location, rising to over 80 miles in…
Read More
Breaking News

Beach hut values soar by as much as 100%

The latest research from over-50s property specialists, Regency Living, reveals that it’s not just demand for bricks and mortar that is pushing up house prices in Britain’s most desirable coastal locations, with the average price of a beach hut soaring by as much as 100% in some seaside towns. High cost of coastal homes England’s…
Read More
Breaking News

Revealed: the most lucrative shared living postcodes

New research from COHO, the HMO management platform, reveals that the shared living market in England & Wales generates an estimated monthly rental income of £1.4bn. But which postcode areas are creating the most income from shared living? How much are HMOs making in your postcode? Find out here COHO has analysed the estimated number…
Read More