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Stamp Duty frenzy proves need to automate sales process - claim

The frenzy of activity in the housing market thanks to the stamp duty holiday shows the need for automated processes to speed sales.

That’s the view of property software company Openview – Powered by VTUK. 

It says the holiday, coming alongside the pandemic and the government’s 95 per cent mortgage scheme, have all contributed to the increased housing demand across the UK. 

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Automating transactions, sales progression and tenant maintenance reporting could allow more time to speak to prospects, network with landlords or carry out viewings, Openview says. 

By automating these processes in a way that tailors directly to the agency, automation could act as an assistant which supports everyone in the property industry. 

“In house sales, quick speed and accuracy are fundamental, and if these are not achieved, they can cause backlogs” according to Peter Grant, chairman and chief executive at Openview. 

“Transactions fall through if deadlines are not met and when errors are made. The current housing market continues to demonstrate that automated processes must be invested in to ensure efficiency all the time.” 

Grant adds: “Automation has the potential to make these processes simpler, reduce paperwork, decrease the chances of error and avoid potential delays. Making the process quicker can help agents manage industry demands better on a single online platform. “

He says automation helps effectiveness across four key areas: business continuity, retaining clients, winning clients, and increasing profit with each transaction. 

“By analysing the areas where speed and accuracy need improvement, you can streamline these tasks using a customisable automation system” Grant explains. 

“Knowing the areas of improvement in your organisation will help select the right features that will benefit your agency and clients.” 

He says there is peace of mind in knowing that the documentation and data that has been inputted is on one single, secure system.  

“Also, there is an opportunity to focus on other important areas of the business that require attention,” he continues. “Time can be maximised when automation is at the forefront of the company’s structure. Maximising time means enabling growth, reliability, and stability at any chosen hour of the day.” 

And he concludes: “Fastrt property transactions for estate agents can be facilitated with e-signatures and automated communication, as opposed to being completed manually.” 

  • Daniel Hamilton-Charlton

    Not sure you can ever automate a client. Ultimately they need to put pen to paper or fingers to a keyboard to complete the required paperwork. The sooner they are presented with the paperwork and, in an educated fashion, explained why they need to complete it as soon as possible when going to the market in readiness for the sale being agreed.
    Agents are losing touch with the basics and relying heavily on tech and automation. There is very likely to be a shift at some point to traditional approaches to service delivery, and something that the market will be desperate for.
    Businesses should not plan their future based upon a freak scenario. They should however, identify what went wrong and but basic steps in place to ensure that even a 'normal' sale will transact faster.
    Every sale has a deadline, so every client should be as well prepared as possible.
    I'd love to agree and say that tech and automation is the answer, but it is education and a small change in delivery that is required to make a massive difference. And it is free.

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    If I could change one thing about EAT it would be the advertorials.
    Sales process needs automation, says man who owns automation firm.

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    Really, we need to speed up transactions by automation. Why has no one thought of this before? Amazing....

    Daniel Hamilton-Charlton

    You can't automate people. Agents need to understand what needs to be done and why, then have a conversation with clients to explain what 'they' need to do and how it will benefit them. Automation is not the answer to speeding up transactions.
    Identify where part of the delay is and you will understand why.

     
  • Simon King

    Completely agree, and exactly what this article is highlighting. Automation enables more human interaction by performing those mundane, time consuming processes you would normally have to.

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    You agents can “automate” as far as you like. However, the legal work, and the financial aspects, are tasks carried out by Professionals who can be disciplined & ‘struck off’, or sued. This work will always be performed at a safe pace and with all due diligence. No shortcuts whatsoever.

    REGULATION of Estate Agents is what’s needed, much more than is Automation.

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    • N W
    • 01 July 2021 08:16 AM

    ignorance is not a virtue...….!

    Both agents and solicitors can be struck off, disciplined or sued for unprofessional conduct....

    Automation for both agents and solicitors can be good but accepting that for either profession there are limitations on what can and cant be automated and what must and should only be carried out by a professional. (though those roles could change as AI and other measures start to become more powerful in future)

    Some lawyers have been incredible throughout the stamp duty process, offering solid, consistent professional service despite the incredible pressures on them. Others have I have to say, been deplorable, some have lied about where they are with conveyancing and much more beside.

    Ultimately, the professional agent and solicitor will shine through from those that under perform and lack any credible foresight or process in place to manage the volumes and pressures of work.

    As far as regulation is concerned, I'm sure most professional agents would welcome this and many have been asking for this since 1979. Having said that, the legal process is regulated and it hasn't stopped the complaints so its not the cure for everything

     
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