Good Sales Progressors are invaluable and worth their weight in gold when it comes to the buying or Selling a property in the UK.
Many people outside of the property industry are unaware of what Sales/Property Progressors do and why they are so important.
In this article we take an in depth look at the role of a Sale/Property progressor and the important work they carry out, who they liaise with, and why they are successful.
What is a Sales Progressor?
These are the people who progress the sale of a property through to completion. They may be people you have never met and did not even know about. The estate agent (if they have one, may tell you about this but most of the time does not introduce you to them. He or she may not have a dedicated Sale Progressor!
So the Agent has visited your home, taken the details, done the photographs, issued his terms and conditions, then gone back the office to market your home and you now sit back and wait for the action! Once an offer has been received and you have accepted the offer, A Memorandum of Sale is issued by the Estate Agent to all parties concerned with the sale transaction details, buyers, sellers, each respective solicitor and estate agent get one. Bring in the Sales Progressor.
The consumer organisation Which, says that about one third of property purchases fall through. Many stressed out buyers & sellers reported to us, about the problems encountered with their buying process and it’s a very long list!
Number one issue: communication, lack of follow up, no updates or the inability to speak with the estate agent for an update, no progress to enable moving beyond personal issues or financial difficulties that come to light during the sales process. Naturally, there will be some unavoidable circumstances during this time, how much better to know immediately if a problem exists than to wait with silence not knowing what is happening!
Currently, in England & Wales making an offer to buy a property, does not enter you into a legally binding agreement. Only once an Exchange of Contracts has been effective are you bound in law. Time and time again it is seen that the length of time from receiving an offer, to exchange of contracts, is what frustrates the sale process and makes buyers pull out. An article written by Carol Lewis, in the Bricks & Mortar section of the Times makes the point “we need to secure the buying chain”
Figures quoted in her article that “27% of people who have bought a house in the past ten years have been forced to stay with friends, family or in a hotel while waiting to complete on their property, with 4.31 million people across the country left homeless by the process” Now we have several apps that claim will track the progress of the house sale by way of updates from solicitors, mortgage brokers, and estate agents. Let us not go there. The way to get this information is via a well experienced sales progressor who works respectfully with solicitors, mortgage lenders, estate agents and the buyers and sellers. No corner cutting. You need to know your home investment is safe and what you are purchasing is structurally sound, that the titles are in order and that solicitor in not on extended holiday in the rain forests of the Amazon and out of contact!
A good Sales Progressor will help shorten the period between offer and exchange by collating all the required sales details, by communication, being a Single point of contact, using his or her knowledge of the process and explaining “ sales jargon” and by acting as a mediator between parties. Thus, making the process less frustrating. Having a dedicated person overseeing the whole process lessens the chance of crossed wires.
According to Which having someone on your side to assist in this process is vital if it’s to flow without a hitch.
Surely, a sales progressor is an Estate Agent?
A Sales progressor is a specific role within the Estate Agency brand, many agents will get their trainees, negotiators, or receptionist to perform sales progression tasks. We do not believe that to be in the best interest of the clients or of the business. Without a dedicated Sales/Property progressor in place tasks may get left to the last minute, costing time and money to those in the sales chain and the opportunity for either the buyer or seller to pull of the deal.
So, when choosing your agent its not only about the Agent you instruct, it is about the sales progress- do they have a dedicated Sales Progressor?
Its about Communication, Single Point of Contact, Knowledge, Jargon, Mediation. and working for you.
Case Study -April 2020. Mrs R contacted me in April in great distress about her sale, she was being pushed to exchange/complete and get out of her property so her buyer could move in immediately. We had gone into lockdown and Mrs R had found a property in another village 70 miles away that had only just had the Memorandum of Sale issued. Mrs Rs Agent had told her she would lose her “cash” buyer if she did not agree this and as she was a lady on her own, it was easier for her to move out to family or rent very short term. After some in-depth discussions and checking of information, it was advised that Mrs R should go for an Exchange with delayed completion date of September or earlier which all parties could agree, given the Lockdown. This arrangement did not suit her buyer. It had to be now this week. My calls to those involved brought forth the following, Mrs Rs buyer would only be a “cash” purchaser once the sale of her own property had completed. The Agent had not got the required evidence on file of funding, and the sale was being frustrated. Mrs R has now changed her agent and looking forward her move to her new property in September.
© Sue Rainer 20.
A note from Sue: I have worked in Estate Agency for nearly 30 years and have seen the distress and frustration that people experience with the buying and selling of their homes. If you have such concerns -do call me and let me help Tel: 01233 861470 Email;- [email protected]