A prominent advocate of a reformed transaction process says more secure moving systems can help agents maintain high business levels when the current market frenzy calms down.
Bryan Mansell, co-founder of Gazeal, says: “Currently if a transaction falls through, agents can rely on the fact that several other prospects are queuing up to make an offer. This is because the market is so busy, and the demand is there.
“When this demand slows down, agents should still be prepared. Agents can, in fact, increase security when there are fewer buyers in the housing market.”
Mansell believes property sales are more likely to complete if they are secured with upfront information. Full knowledge and transparency of the property before the offer is made reduces the chance of the buyer withdrawing from the sale.
He adds: “By conducting checks and encouraging sellers to provide upfront information at an early stage, you can get the ball rolling sooner. With this out the way, you can quickly establish trust, making the sales process a breeze. By doing these checks beforehand you can weed out potential obstacles and focus your time on those who are sale-ready.”
Protocol information, guarantees, title documents, and certificates are some of the documents that should be provided upfront, he insists.
Detailed buyer information packs can help buyers make well-versed purchase choices. Having safe, committed buyers is crucial when the market is less busy.
By providing this information upfront, the overall transaction time will be decreased - beneficial for all members involved because it means the agent is paid sooner and it improves the buyer experience.
“Once a sale has been agreed, neither the seller, buyer nor agent want delays. Especially when they could have been prevented by simply outlining key information about the seller’s property in the first place,” Mansell continues.
Certainty that everything is in place to complete sales transactions is essential, he believes, and reservation agreements can help to provide this.
“Knowledge that your deal is 100 per cent secure before the legal exchange of contracts is reassuring. This is the kind of certainty that makes the home moving process a continued success, no matter how many buyers on the market there are,” he concludes.