Will this be the end of the race to exchange?

We don’t think so. Reports on a potential government consultation with the industry on how to speed up the house buying process talked of the potential of a process similar to Scotland. In Scotland deals are binding once missives are exchanged, which rules out gazumping and gazundering. The managing director of the National Association of Estate Agents (NAEA) says the Scottish system is by no means perfect and that a hybrid process could be an option; taking lessons from across the continent where say, in France they have a 10 day cooling off period following acceptance of an offer.

Gazumping is an issue of course, but is it the main problem? Some don’t think so. Despite best intentions, sometimes things just slow down. Outdated technology, or no technology at all, means that particular processes lead to delays. Conveyancers who take on too many cases, buyers who haven’t been sufficiently qualified, unmotivated people throughout….the list of reasons is extensive!

As a consumer I welcome the consultation and hope there are improvements to be made. One of the reasons my business exists is personal frustration when buying and selling houses at the seemingly unexplainable timescales involved. It also can’t hurt to improve the cashflow of estate agencies if sales are turned around quicker! Having said that, careful consideration needs to be given to ensure a balanced approach for responsibilities on buyers and sellers.

The improvement in technology available in every part of business has been phenomenal over the past decade. The seemingly archaic processes of councils and the government is sometimes surprising. It seems to me that a whole heap of time could be saved in the process simply by moving some information online. Whatever the outcome, I hope those involved in the consultation work to represent the needs of everyone involved – buyers, sellers, estate agents, conveyancers and the organisations and institutions that help provide the relevant information. There are improvements to be made across the board.

Savvy Sales Progressors provides pro-active, outsourced sales progression services for estate agents. If you and your sales team manage the sales progression, you should consider outsourcing your sales progression to regain some valuable time to focus your in-house resource on sales. Outsourcing can provide an excellent customer experience, help you win more valuations and ultimately sell more properties. Take a look at our unique online calculator to see whether you can reduce your costs by outsourcing. You can access the calculator and further information on our service by visiting our website: www.savvysalesprogressors.co.uk

 

 

 

Alex Evans

You May Also Enjoy

Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker 30/05/25

Average rates for 2-year and 5-year fixed-rate mortgages   Term Average rate Weekly change Yearly change 2-year fixed 4.64% +0.03% -0.78% 5-year fixed 4.61% +0.03% -0.45%   Lowest rates for 2-year and 5-year fixed-rate mortgages   Term Lowest rate Weekly change Yearly change 2-year fixed 3.82% +0.02% -0.93% 5-year fixed 3.88% +0.09% -0.55%   Average…
Read More
Home and Living

Carpet Cleaning Specials in Stanton: Save on Your Next Service

Sure, the carpeting in your Stanton home is inviting and adds warmth and comfort, but it can also store harmful dirt, allergens, and bacteria that can affect your family’s health. This makes regular carpet cleaning not only better for your health, but also your wallet. With Carpet Cleaning Stanton specials, you can save on the professional services…
Read More
Rightmove logo
Breaking News

Seven in ten branches now using Rightmove’s insights and training platform

New figures from Rightmove, the UK’s largest property platform, show that seven in ten estate and letting agency branches are making use of its insights and training platform, the Rightmove Hub. This is up from 56% of branches back in 2023. The Hub, first launched ten years ago and recently revamped, has expanded in response…
Read More
Letting Agent Talk

From Fixer-Upper to Profitable Asset: Strategic Renovations for Landlords

Did you buy a fixer-upper? Or maybe you inherited one. Either way, you’re standing in a place with peeling linoleum, a questionable smell, and wallpaper that could file for social security. The big question: Do you patch things up, go full HGTV, or just torch it for the insurance (don’t do that)? First, take a…
Read More
Breaking News

Household Costs Indices for UK household groups: January to March 2025

Household Costs Indices, 12-month growth rates, expenditure shares and contributions for UK household groups and all-households. These are official statistics in development. Main points Overall UK household costs, as measured by the Household Costs Index (HCI), rose by 2.6% in the year to March 2025; this is a fall from 2.9% in the year to…
Read More
Surge in country and seaside property values
Breaking News

Why Rural House Prices Are Surging Faster Than Cities

New analysis from Open Property Group reveals that rural England is facing an affordability crunch, as house prices in the countryside outpace urban growth, despite lower average wages and higher living costs in remote areas. These shifting dynamics are challenging the long-standing assumption that rural life offers a more affordable and sustainable alternative to the…
Read More