SPLINTA founder Nick Salmon is calling on agents to hedge their bets on the possible result of the general election by signing up to his campaign’s petition on the Number 10 Downing Street website.
The petition seeks the restoration of ‘First Day Marketing’ and has already attracted over 1,400 signatures.
Salmon said: “The polls suggest the election could be a close-run thing. If the Conservatives win a clear majority I have no doubt that the days of HIPs will be numbered.
“If Labour retains power, there is no chance of them entirely ditching the Pack, but many agents want to see the return of first day marketing and a substantial sign-up to the petition will indicate the strength of feeling on this issue – which we will take forward in the campaign.
“We all know that HIPs are generally useless and should be scrapped, but if that does not happen, the return of first day marketing would go some way towards helping agents and vendors in what remain very difficult market conditions.”
The petition, which closes on April 30, can be found at: click here
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Comments
Is there a valid argument for delaying, until a sale has been agreed, gathering together the information that is required to allow for exchange of contracts? When the options to do so didn't exist, that was a pretty good reason - it couldn't realistically be done. Now that (with a few more ICT improvements) it can be done, surely the argument to go back to how it used to be done is a nonsense - I hope no-one is seriously suggesting that. It seems the biggest issues are: 1. up-front cost commitment; 2.time-sensitivity of some documents; 3. inefficiency of supply. Many seem to quite like 1 as it shows commitment. 2 is more of a red herring than it actually is (or should be) but even so instant on-line refreshing of searches should eventually be the aim. 3, well 3 is down to using a proper supplier. And a condition report would help (what everyone seems to think would have been the best bit). If statutory HIPs are scrapped, maybe the industry will drag itself out of the primeval swamp & get its act together to achieve a better outcome for buyers, sellers & professionals alike. Back to the drawing board? How much longer will it take?
One good thing HIPS did was make Vendors pay up front for something and detering some time wasters, that shift will be a shame to lose. "No Sale No Fee" a stupid business model.
Nick is rather out of touch with his fellow agents methinks. They are making most of their money at present by selling HIPs at inflated prices to their hopeful vendor customers. The argument about delaying marketing has long since burnt out. What's more important is getting a sensible compromise out to replace the daft HIP and properly inform the housebuying public.
The problem is not just the time that Hips take to compile, even more important is the quality of the information contained therein. Globalwarmer touched on this in an earlier thread.
My firm is a long established (several decades) search company. After considerable deliberation, we decided not to get involved with Hips from the outset - so many cowboy firms were setting up, cutting every corner imaginable in an attempt to sell their product at ridiculous bargain basement prices. Rightly or wrongly (and it has had a huge effect on our turnover) we could not bring ourselves to lower our standards to compete at this level.
We survive on commercial properties & the instructions of solicitors acting for buyers who are aware that most Hips aren't worth the paper they're printed on insist their client has proper searches carried out.
Under the old system virtually all searches were commissioned in this manner and what mattered to the prospective purchaser was the reliability of the information. Once they began to be commissioned by the seller, all that mattered was the price, preferably cheap as chips; all the better if they failed to disclose any skeletons in the cupboard which might put potential buyers off!
Ace, I haven't missed the point, it is clear what many think about the basic Hip and I am no great fan myself and haven't been since their creation as those who have met me over the last few years will no doubt testify. However, 25 years busting my ***** as a conveyancer told me no matter how good, quick and efficient I may have been, or tried to be, something or someone would nearly always bring the chain to grinding halt causing stress, delays and extra expense for many. We can and we must improve on that, this is the 21st century for goodness sake! I just don't see the point in going back to square one completely. We must (all of those involved in this industry) have the collective brains, knowledge, experience and entreprenurial vision to make some changes for the better? I live in hope. Have a good weekend.
Rob, with all due respect and taking into account your vested interest...you're missing a big point. The majoirty simply do not want HIPS at all. Or any other pack that you re-name. While your turnarounds that you state a clearly very good, the information inlcuded, impact and role of the HIP hasn't been. It's a waste of time and money. Sorry, but speaking along with the masses.
We took a Hip order yesterday by phone at about 1.00 p.m. By 10.12 this morning our system confirmed that enough documents were in (EPC, PIQ etc) and ordered to begin marketing. If the seller takes up my free offer of an exchange ready pack (we are actually calling it a sales progression pack)then by close of business next Wednesday, in theory at least, if he receives a cash offer he could exchange and complete within one week of the Hip being requested. Surely we need to be working on getting first day marketing back and producing good quality, competitively priced, sales progression packs asap thereafter?
There have been four generations of estate agents in my family,in a few years I am looking forward to retiring and I am far too old to bother very much more with this whole sorry mess of estate agency. When HIPS was first muted I felt it was going to be a disaster for the small 'independants' and it has been, and not only for agents but the industry as a whole. I don't care what any Conservative Thatcher idylist says, Maggy Thatcher started the rot, with de-regulation and Labour have put the final nails in the coffin, so between them successive governments have buggered it all up tinkering in something they dont undersatand, so that's nothing new. The old system wasnt perfect, but what system is?
Regardless of when the HIP is ready, who compiles it or if there is a DEA sitting around with no work that day can get you an EPC done inside 3 hours - its all irrelevant. There is an extremely simple and stress free solution to this and Grant shares this though. Everyone makes mistakes - it is normaL. It's a shame it will take a Conservative success to correct this error. This has gone on too long.
Regardless of when the HIP is ready, who compiles it or if there is a DEA sitting around with no work that day can get you an EPC done inside 3 hours - its all irrelevant. There is an extremely simple and stress free solution to this and Grant shares this though. Everyone makes mistakes - it is normaL. It's a shame it will take a Conservative success to correct this error. This has gone on too long.
same day marketing can be done, in most cases the property may come on 2-3 days after the appraisal, i book the epc to be done after i leave the house and take the PIQ with me. Any good assessor can have the pdf emailed to you the same day and you already have the PIQ. I can get enough of the pack back for marketing by the time ive finished uploading the photos.
Boycott hips,,,i would happily show my clients i have their best interests at heart by simply not ordering them...wish we worked at british airways and worked together,,would have striked ages ago.
Mike:
You accept an instruction to market a property at 4pm on a Friday (ANY day, for that matter...), and show me a HIP provider who can source an EPC and all other required documents in order to produce a 'market-ready' HIP in order to roll out the property to prospective purchasers that day. THEN I will agree with you. Until then...
SPLINTA primarily seeks the abolition of HIPs for having failed to achieve any materially significant improvement to the home buying process.
IF abolition cannot be achieved the next best thing is for a mechanism to be contrived that would allow agents to introduce properties not on the market (i.e back valuations) to prospective purchasers ahead of open marketing. A HIP could be compiled if the potential buyer expresses interest in making an offer or when open marketing commences.
Getting first day marketing back (i.e. the HIP order mustbe made) would be useful to many agents in some circumstances (no matter how good the pack provider) but it would not alter the fact that HIPs are simply not working and that far more radical reform is necessary if we are ever going to make real progress.
More misdirection, same day marketing has never gone - wake up a get a better HIP provider
Never been away Rob. But, as they say, timing is all...
Nick, good to see you back, is it that spring is here, have you been on holiday or in hibernation? A day of healthy debate lies ahead maybe? I am with you on the first day marketing despite the fact most of our Hips are ready (for our agent customers) before they are ready to market the property themselves. In my opinion we still need good quality information up front, asap, though.
The whole housing market needs reform. Agents should support getting the HIP gone, also regulation of private sales in accordance with agency acts and PMA.