A joint venture between Sheldon Bosley Knight (SBK) and conveyancing firm Jephson Legal (JL) that aimed to rationalise the residential sales process is marking its first year.
The partnership aimed to join up the agency and legal aspects of selling a property and sees JL work exclusively for SBK via a referral system.
SBK said the service has minimised fall-throughs by keeping clients better informed and helping them understand throughout the process who does what, and by when.
Mike Cleary, owner of SBK, said: “I was selling a house for a client who was complaining we couldn’t see the transaction all the way through to a legal conclusion for him. When I considered their needs further, I realised there was a gap in the market for a more joined up approach between sales and the legal sides.
“The entire process is based on communication. Our clients now have a dedicated, proactive sales progressor sat alongside the lawyers whose job it is to ensure the lines of communication remain open at all times. As a direct consequence this enables the transaction to progress more quickly and with fewer hold ups as the teams work side by side all for the client.
“This service gives us an incredible advantage over agents in the area and puts the client, via SBK, in control of the transaction.
“I’m proud of the teams at SBK and JL as they have worked really hard to make it the success it has been.”
JL senior associate and head of legal Natalie Sheerin added: “This collaboration between JL and SBK is designed to help both buyers and sellers and 2023, our inaugural year, has been even more successful than we ever dreamed.
“The market can be very tricky, not least for first time buyers, but we enable them to have a legal expert on hand, who can easily be spoken to, to explain the intricacies of becoming a homeowner.
Coupled with this, the need to move faster, in an ever-changing market means we always encourage anyone who wants to buy or sell to be legal prepared right at the start of the process.
“We are on hand to ensure the lines of communication remain open throughout the transaction so nothing slips through the net. This gives our client confidence there will be someone to speak to whenever they need to.
“We can do everything digitally and the client is in control so can choose to transact online or in person at either their local SBK office or at the JL offices in Leamington.
“We have already seen incredible results during our first year – transactions are going through faster and there are fewer fall throughs – and we are looking forward to this venture going from strength to strength.”
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I've no reason to doubt you, but where is the evidence?
Number of agency instructions to JL for say the first 3 calendar quarters.
Number of those completed as at today's date.
Time from offer to exchange
Number of those not completed currently back on market.
Number of those who failed to complete at the same sum as the original offer figure.
Lastly - average gap between exchange and completion (gives an idea of client stress levels and organisational competency in the chain)
That'll do for starters. Without data to back up the success it simply reads as a puff piece in support of referral arrangements.
I do agree with you Matt!
Why don't people use data when writing pieces like this.
Maybe it's not available.....
Why don’t SBK just do “the legals” themselves by setting up as a CLC accredited law business? How seamless would that be!
The problem with a property transaction market is that estate agents see listing a property as the main achievement and an offer being accepted as “sold”.
It’s a legal transaction. The Material Information requirements (they are not optional) centres on this simple truth. Doing “the legals” before marketing the property-as envisaged by Material Information- will actually reduce timeframes and introduce certainty.
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