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Sales Progressions and a Safe Eye!

Fri 16 October 2020

Now is more important than ever to have an agent who has a sales progression department.
In the current climate selling is not an issue. Keeping an eye on said sales is key.
Post restrictions we have experienced an imbalance between supply and demand. We are seeing many area movers moving into the area. This coupled with the stamp duty holiday has fuelled the demand.

Properties in certain property sectors are selling very quickly with a high percentage at or above asking price where there has been multiple offers coming in.

It is also very noticeable with property over £500,000 that this market place is moving swiftly with many sales being agreed again at asking or above. This market place I believe has benefitted from multi-generational living coming into play far stronger in the current climate along with many buyers looking to upsize to allow working from home. Lockdown has certainly changed the reason for people wanting to move as we start to spend more time at home.

The sales process from agreeing a sale to completion has historically taken between 10 – 12 weeks and 6-8 where no mortgage is needed. Under the current conditions with the sheer volume of sales going through we have seen time frames extend to between 4-5 months on the majority of sales. The volume going through is affecting lending and conveyancing timeframes which all has a knock on effect.

With a sales progression department in place we are able to keep a very close eye and aim to get the sales through as smoothly as possible by ensuring documentation has been completed and returned by both seller and buyer to ensure solicitors are able to get on with their side of things. Where areas of concern are highlighted on a survey, we are able to jump in arranging timber and damp reports, roofing contractors etc. We work to ensure that our sales are held together where we can.

Negotiation is key in the latter stages and the ability to work through some tough issues which may arise. Selling a property can be stressful so we aim to make the process as stress free as possible. Chains which involve agents that do not have this progressions ability become lengthy and difficult leaving gaping holes where vital information is missing or cannot be obtained.

If you are looking to beat the stamp duty it is imperative to market and purchase now.

The importance of sales progression.

Zoe Herbert, DipREA, FNAEA
Kidderminster (01562 822244)

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