Agent reveals how it cut fall-through rates with rese...

An agency brand claims to have reduced its fall-through rate to just 8% by legally preparing properties for sale before they go on the market.

Redbrik Estate Agents is encouraging others to follow in its footsteps after its new service, SecureMove, bucked the national trend and reduced fall-through rates.

SecureMove is designed to minimise fall-throughs, speed up the sales process and provide more certainty to buyers and sellers by legally preparing properties for sale before listing.

In partnership with local solicitors Taylor Emmet, SecureMove ensures that sales are progressed within a time frame agreed between the vendor and the buyer.

Reservation agreements through SecureMove come at a fee of £595 to the buyer, with which they receive the full buyer information pack created prior to marketing, along with searches from the solicitors straight away - a process which can typically take two to four weeks.

The service, with has been offered by Redbrik for the past six months, has been known to complete sales in as little as four weeks - with the current national average standing at eight and a half months.

This means that from day one, Redbrik could be up to four weeks ahead of competing agents.

The majority of sales using SecureMove have a completion timeframe of just 90 days, the agent said.

Over the past few weeks, representatives from Redbrik have been giving talks at the EA Masterplan workshops across the country, explaining the benefits of SecureMove and motivating other agents to adopt similar methods in a bid to revolutionise the industry.

David Cooper, director at Redbrik said: “From when the property market reopened post-pandemic in 2020, to October 2022, fall-through rates were up to 50%.

“We owed it to our sellers to create a model which ensures security in their sale, to reduce disappointment and through the introduction of SecureMove we have been able to achieve this.

“Our fall-through rate is now at just 8%, which really demonstrates the confidence both buyers and sellers have in our new service. With national fall-through rates remaining high, we want to share our method with other agents and encourage them to help us make positive changes industry-wide.”

Shaun Adams
22 June 2023 08:40 AM

Very true, we produce most of the contract pack with standard enquiries answered before we launch a property, we also use Reservation Agreements on most sales. Chains don't wait for our part of the transaction. Non chains go much faster. The UK wont ever stop chains.