A new automated sales progression tool being launched today promises to require fewer resources from agents in return for ensuring faster completions and reduced fall-throughs.
Called View My Chain - and piloted during the course of this year by over 1,000 agency branches from over 100 agency brands - the system claims it can significantly reduce agents’ work in terms of telephone calls and chasing other agents’ and conveyancers.
The people behind View My Chain say that unlike previous attempts at sales progression - including systems like the ill-fated Veyo, the conveyancing portal which in 2015 set out to achieve a similar chain-monitoring objective - this is a cloud-based platform that does not depend on data entry from other agents, conveyancers or integration with third party systems.
View My Chain, in a demonstration to Estate Agent Today, breaks the chain into a series of standard categories - Sold SSTC; Contracts Underway; Legal Searches Ordered, legal Searches Expected, Mortgage Funding, Property Exchange and Property Completion - but this list of ‘milestones’ can be customised by participating estate agents.
The service claims to have no link with any portal but has a database of properties on the sale “extracted from agents’ websites”; its search information comes from established automated search platforms; and the operators of View My Chain say they are about to secure automated access to information on how and when titles are accessed or created.
These allow the ‘milestones’ to be shown as having been passed in the visual displays available to participating agents.
A series of ‘lag alerts’ can be programmed to inform agents of delays somewhere in a chain.
“The product empowers good estate agency practice by communicating progress milestones with automated notifications and identifying potential delays and issues with timed lag alerts – giving agents more transparency, control and time through the sales process. Essentially it alerts agents to potential problems quickly so delays can be picked up and solved” says a statement from the operators.
View My Chain was founded last year Sohail Rashid, a property lawyer, and Ian Lancaster, a tech-entrepreneur who founded Virgin Cars. They say they will shortly be preparing a fees schedule “based on a 12 month subscription model and available per branch.”
In the meantime, they are giving agents a 60-day free trial period to road-test the system.