Jonathan Rolande: How agents can tip the odds in favo...

For almost as long as any of us can remember, we’ve had an unpaid colleague getting sales over the line for us with minimal effort.

It was called a booming property market, but sadly, the colleague has long since handed in their notice.

No more can we rely on speeding sales because of increasing prices. Nor can we rely on a waiting list of applicants if a buyer stalls. No it’s quite the opposite with many buyers feeling like they hold the cards and sellers now more often than not dance to their tune.

But there are many things that agents can now do to tip the odds in their favour.

Getting sales through more quickly and reliably has endless benefits. Not only will you get commissions quicker, they’ll also be higher. And the publicity of sold boards and success stories from the portals is even more important now when you are comparing yourself to inferior competition.

Time will be saved. Costs will be reduced.

I’ve been working in this business so long now I’ve seen boom and bust many times over, and I’ve worked in markets when things were even tougher than they are today. There are many tried and tested tricks that can be used to get sales over the line more quickly and now they are vital.

And there are a few from the old days that are as important now as they were two decades ago.

The first area to be mindful of is around target dates. Be open and frank with buyers and sellers when the sale is agreed. Get the key dates on the sales memo which should include a target for exchange and completion. Make it realistic.

Also firm up when the valuation for a mortgage is expected. That way, everyone is prepped in advance, and if things start to slow, this can be referred back to to get it back on track.

If you’re selling a flat, you know that managing agent enquiries can be swift or slow or almost non-existent. When you take the property to market, ring the agent and ask them the timeline for solicitor enquiries, and you can build this timescale into the transaction.

It’s also worth noting that bad solicitors cost estate agents an absolute fortune. Are you using one just to get the commission? This might be a false economy if you’re losing sales because of them. You'll also know who in your area drags out sales and even actively tries to deter buyers.

I’ve found loads do for reasons only known to them - and if you see them being used, explain the situation and see if the applicant will change solicitor in order to get the sale through quicker.

Try to get on friendly terms with your competition too. It’s important now that we all begin to work together to get chains through - it's in everyone’s interest

And get on good terms with local builders, electricians, roofers, damp and timber specialist wall, tile installers etc. Why? Surveyors are now becoming more picky, and suggesting reports prior to mortgage offers. Having someone you can call out quickly and provide a fast accurate report will save a lot of headaches.

Renegotiating is an area to also be mindful. This, again, is a good reason to be on good terms with your competitors. If there is a down valuation in a chain and your client is unable to reduce, you might be able to have a word with the agents down the line.

Overall, as we approach the end of the year I think we all need to re-learn some of what we do and resign ourselves to, for the time being, working even harder.

Yes it might be for slimmer rewards - but you will reap the benefits when you are still in business to capitalise on the brighter days ahead.

http://jonathanrolande.co.uk/