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A smarter way to manage the home buying process
Lack of transparency and communication routinely jeopardise property transactions and contribute to the UK’s average fall-through rate of 33% – but it doesn’t have to be this way.
Since its introduction in September 2017, combined sales progression and communication tool – mio – has helped to reduce average fall-through rates to 21%, whilst speeding up transactions to exchange from 126 days down to 85 days (as measured from September 2017 to April 2019 across the Cardiff mio community of agents).
Why has mio made such an impact?
With a shared view of the chain and milestone updates (to name just a few), mio breaks down traditional siloes of information and enables collaboration, to create a single version of the truth everyone can rely on as the chain progresses towards completion.
Homemovers can also sign up to the mio app (available on iOS and Android), which allows them to see the status of the chain, communicate directly with their estate agent, and more!
Michelle Hallas, Residential Sales Manager at Allen and Harris comments:
“The app is great for staying in touch with our clients. Not only can they keep an eye on progress updates with a shared view of the property status, but they can message directly through it. One of my current homemovers even prefers instant messaging to phone calls, as she finds it quicker and easier to get a response.”
Want to join your local mio community?
mio is currently available on a 6 months FREE introductory offer, giving you the opportunity to see the real difference it can make to your branch. Click here to find out more!
28th NOVEMBER 2019: Christopher Watkin’s recent thought-provoking interview with Dan Marsden sheds light on the property industry today and offers an uninhibited outlook on the importance of sales progression. Jon Horton, Product Director at mio reflects on the video and what it means for agents.
It’s refreshing to hear someone who shares our sentiments about sales progression. It is the most crucial part of the journey and, at mio, we have a market leading product to manage a “connected” chain which helps to speed up pipeline turnover.
Dan’s no-nonsense approach gets down to the nitty-gritty, pinpointing exactly where agents are going wrong and instructing them on how they can improve their sales progression.
Why do estate agents need sales progression?
Sales progression can be stressful, extremely time consuming and frustrating, but we are in agreement with Dan that it is absolutely crucial! Dan believes that agents should stop blaming solicitors when it comes to delayed sale times and start thinking about what they can do to speed up the process themselves. If not, a sale can take months to complete or even fall-through altogether! We cannot agree more.
With mio, agents and solicitors are able to collaborate more closely and work together to speed up the sale, helping to put an end to this detrimental ‘blame game’. Instead, you can start building relationships across the chain with informed conversations at every stage and mio’s automated milestone updates. Increase productivity among agents, buyers, sellers and solicitors, with mio’s real-time sales progression tasks which allows you to direct resources and attention where it’s needed, giving everyone a much needed nudge that’ll keep the process moving.
How do estate agents improve sales progression?
Dan suggests a number of ways that agents can combat the issues surrounding sales progression:
It all begins with the recruitment process. He advises agents to try hiring the right person for the job rather than saving some money with someone less qualified. Allocate funds to hiring someone well-versed in progressing sales efficiently as, ultimately, the returns you make is dependant on this.
In Dan’s experience, there is only one sales progression expert appointed and the rest of the team are not getting involved when, in fact, sales progression should be at the heart of the company as a whole. We agree that this is where training is pivotal.
At mio, we firmly believe that investing in effective training for all staff is an invaluable way to ensure everyone knows how to excel at sales progression and add value to your business.
Dan says that communication is the point of difference when it comes to being a great estate agent and sales progressor, and we couldn’t agree more. If your staff can make the process absolutely seamless then you are guaranteed to improve customer experience and increase sales.
Agents no longer need to spend hours on phone calls or writing complicated emails but, instead, everyone can keep up-to-date using the mio app with the great instant messaging feature. mio also offers the ability to forecast potential issues so that you can ensure less sales are derailed by unforeseen problems. This will save you a great deal of time for more important tasks and more sales!
mio is the best sales progression tool in the market today because it creates a connected chain and removes inefficient duplication and fosters collaboration. Investing in mio means opening the door to the modern world of estate agency and revolutionising the homebuying process. With mio, all estate agents are able to thrive and execute sales progression with ease, not just dedicated sales progressors.
Contact mio today to arrange your demo and start 2020 with a new outlook on sales progression!
For any press enquiries, please contact:
Product Director, mio