Prop­erty News

Sue Healey of Kings­ley Evans exlains why Chel­tenham is the prop­erty place to work and gives some point­ers for get­ting those sales through

Cotswold Life - - AUGUST -

Dream Homes in We­ston­birt, Red­mar­ley and Kemps­ford

Iwould like to use this space to say a fond farewell to Anthony Hick­man who passed away in May. Tony was the most amaz­ing man who changed the face of es­tate agency, tak­ing it from a comfy chair busi­ness in the 80s to a su­per-tuned sports car, fear­some and in­spir­ing to work for in his regime of 8am to 7pm, 12 days on, two days off. For those still in agency in Chel­tenham who started their ca­reer with him, he taught an in­cred­i­ble work ethic, tenac­ity and com­pet­i­tive­ness and he will be re­mem­bered for al­ways by those who knew him.

In Chel­tenham now there is an ar­ray of big na­tional names and strong in­de­pen­dents all vy­ing for a share of the lively mar­ket. Many in­di­vid­u­als have been work­ing in Chel­tenham for up­wards of two decades and what this shouts from the chim­ney pots is that within the town there is ex­cep­tional long stand­ing lo­cal knowl­edge and ex­pe­ri­ence. The ben­e­fit to the seller and buyer means in the main, ac­cu­rate val­u­a­tions, un­der­stand­ing of process, strong re­la­tion­ships with so­lic­i­tors, sur­vey­ors and fi­nan­cial ad­vi­sors.

With this plethora of ex­pe­ri­ence, the ques­tion re­mains as to why as an in­dus­try we are still notch­ing up a fall through rate of around 30% and although that may well be lower in hot spots such as Chel­tenham, the is­sue re­mains that sales fall through too of­ten, sig­nif­i­cant sums of money are spent, never to be re­couped and the shine that is at­tached to a new in­struc­tion can be lost.

In my opin­ion, three points help the process go through:

They can all be cov­ered in the adage of Time Kills Deals. The av­er­age sale takes around 12 weeks to ex­change if fund­ing is re­quired and in this

‘With all this pos­i­tive plethora of ex­pe­ri­ence, the ques­tion re­mains as to why as an in­dus­try we are still notch­ing up a fall through rate of around 30%’

risk-averse world we live in, what can be done to re­duce the time that it takes to get a sale over the line?

1: Fill in your forms. As soon as you de­cide to sell, in­struct a so­lic­i­tor who will then send you the prop­erty in­for­ma­tion and fix­ture and fit­tings forms. Com­plete them and re­turn them so that as soon as a sale is in hand the buy­ers’ so­lic­i­tor will re­ceive a full pack of in­for­ma­tion to work through. Sim­ply by do­ing this, a week or more can be saved and mo­men­tum swiftly starts to gather.

2: Have a clean bill of prop­erty health. As soon as you de­cide to sell, make sure that any al­ter­ations you have had car­ried out have the rel­e­vant guar­an­tees and per­mis­sions. In a town full of listed prop­er­ties we hit a bump in the road far too fre­quently where work has been car­ried out with­out listed plan­ning con­sent and not only does this worry a buyer, it can also af­fect the bor­row­ing. Be clear with your es­tate agent if there are any con­cerns as they will be dis­cov­ered through the con­veyanc­ing process and by know­ing up front what to ex­pect, in­for­ma­tion can be dis­closed and of­ten in­dem­ni­ties put in place.

3: Put a time frame in place on agree­ing a sale. On ev­ery sales mem­o­ran­dum that goes out there should be an agreed time frame for ex­change and com­ple­tion. With­out a sense of ur­gency and a clear date in mind, the sale can be deemed less urgent than other trans­ac­tions. With a sen­si­ble date agreed im­me­di­ately, all par­ties are fo­cused and the level of com­mu­ni­ca­tion be­tween seller, buyer, agent and so­lic­i­tor in­creases dra­mat­i­cally.

There are of course many other points that help along the way how­ever a strong re­la­tion­ship be­tween the client, their agent and the so­lic­i­tor plus open lines of com­mu­ni­ca­tion from be­gin­ning to end solves a lot of po­ten­tial prob­lems. It is an in­tense re­la­tion­ship for around four months which then, along with the file is archived un­til on av­er­age an­other seven years goes by and the process starts again.

I have no doubt that many of us will still be work­ing in the town in seven years’ time. Why move any­where else when it is such a vi­brant place to sell prop­erty? New com­pa­nies open­ing help push ser­vice stan­dards even higher, The in­ter­net brings many ben­e­fits to the ta­ble and reaches an un­prece­dented num­ber of buy­ers but in a town like Chel­tenham, per­sonal ser­vice and ex­pe­ri­ence is still what it’s all about.

Sue Healey of Kings­ley Evans

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