A new automated sales progression tool being launched today promises to require fewer resources from agents in return for ensuring faster completions and reduced fall-throughs.
Called View My Chain - and piloted during the course of this year by over 1,000 agency branches from over 100 agency brands - the system claims it can significantly reduce agents’ work in terms of telephone calls and chasing other agents’ and conveyancers.
The people behind View My Chain say that unlike previous attempts at sales progression - including systems like the ill-fated Veyo, the conveyancing portal which in 2015 set out to achieve a similar chain-monitoring objective - this is a cloud-based platform that does not depend on data entry from other agents, conveyancers or integration with third party systems.
View My Chain, in a demonstration to Estate Agent Today, breaks the chain into a series of standard categories - Sold SSTC; Contracts Underway; Legal Searches Ordered, legal Searches Expected, Mortgage Funding, Property Exchange and Property Completion - but this list of ‘milestones’ can be customised by participating estate agents.
The service claims to have no link with any portal but has a database of properties on the sale “extracted from agents’ websites”; its search information comes from established automated search platforms; and the operators of View My Chain say they are about to secure automated access to information on how and when titles are accessed or created.
These allow the ‘milestones’ to be shown as having been passed in the visual displays available to participating agents.
A series of ‘lag alerts’ can be programmed to inform agents of delays somewhere in a chain.
“The product empowers good estate agency practice by communicating progress milestones with automated notifications and identifying potential delays and issues with timed lag alerts – giving agents more transparency, control and time through the sales process. Essentially it alerts agents to potential problems quickly so delays can be picked up and solved” says a statement from the operators.
View My Chain was founded last year Sohail Rashid, a property lawyer, and Ian Lancaster, a tech-entrepreneur who founded Virgin Cars. They say they will shortly be preparing a fees schedule “based on a 12 month subscription model and available per branch.”
In the meantime, they are giving agents a 60-day free trial period to road-test the system.
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Lovely in concept, doomed in practice.
Like with previous attempts it will only due to lack of human honesty, transparency and common goal.
A system relying on co-operation from a cross section who rarely do, with each other will be frustrated from the off.
Shame
The article above says "this is a cloud-based platform that does not depend on data entry from other agents, conveyancers or integration with third-party systems."
P.s 'my chain'?
Wrong terminology unless you're allowing the public involved to view it. Are you?
seems from the screen shot it is too simplistic - AML done, property info forms completed, etc. Delays often start at the front end of the process that this does not show.
It's a great idea in theory, much needed, as is a sale p/offer qualification tool, we are testing it so the jury is out. If the mind that conceived it is as good as the mind that conceived Fixflo it will be brilliant.
survey done, mortgage offer in, initial inquiries raised, initial inquiries answered, property information pack completed, received. the sales process is a lot longer and more complicated than these people show it to be which is why these programs can fail. If your going to do something do it properly do it the once. There needs to be a system connected to solicitors and agents as some "online solicitors" if you like never talk to you so you never know whats going on and then they become rude, so if they can just input the data no one has to ruin someones day by chasing them. Also think they buyers and sellers should have an overview access so they don't get stressed, the amount of unhappy vendors and buyers I speak to because another agent won't talk to them or they cant get hold of their solicitor.
Why is it that anytime anything new comes in to this industry people tear it down? This industry is filled with dinosaurs that don't like change. Embrace technology and move along with it, otherwise you'll find yourself left behind. There will undoubtedly be teething problems with this which is why it's being 'tested' but let's not make ourselves look stupid and write it off. The online agent has been laughed at, yet they're doing well. Again, some of you will say there are many complaints with the online agent....have a look around, there's many complaints with all agents.
If you're showing a property that hasn't been touched in 40 years, would you tell the viewer that it's still good to go and in line with the modern day style or would you say it's in need of updating?
How much is it after 60 days please?
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