Houston, we have a problem – and it’s in the property market
PUBLISHED: 11:43 28 August 2020 | UPDATED: 11:59 28 August 2020
Managing director of Minors & Brady, Jamie Minors, discusses one of the main issues affecting the Norfolk property market right now.
For those reading, and for those who know me, I am known for being a half-glass-full man, however, right now we have an issue that needs resolving, and an issue that can’t be solved immediately. But it can be helped with efficiency.
The big issue? Getting a sale through to completion.
The pace of the housing market is incredible and genuinely feels like a Ferrari 458 ripping through a corner at Silverstone, except team Ferrari didn’t quite expect the car to go out today and the 458 has go-kart tyres on.
The industries involved in the moving process right now are overworked, resulting in much slower timescales – with solicitors struggling to get their paperwork out and return emails, bank surveyors are fully-booked meaning they can’t book a mortgage valuation for four weeks, and mortgage brokers are fighting (virtually) to get the best deals before they expire online.
Two of our recommended solicitors have stopped taking new business, as their team do their best to keep service levels high and get the current pipeline of sales through and ensure home movers get in well before the stamp duty holiday ends on April 1, 2021.
So what can be done to help the process?
At Minors & Brady, we now have six full-time sales progressors, who do not book viewings, do not sell properties and rarely leave the office other than to get their Costa! Their role is to chase this process, inform buyers and sellers of where things are and provide comfort and clear communication to speed up the delays.
Our team ensures that buyers and sellers get their initial client care letters back, pressing to get fixtures and fittings forms back, making sure the buyer has paid for their mortgage valuation with their broker, paying for their searches and submitting all their necessary documents to allow the next step of the process to happen.
Efficiency in this part of the process is a must, and getting things like gas services carried out, electrical safety tests, requesting management packs and speaking to first time buyers about closing down their ISA accounts. All things you would never think of as a buyer or seller, but we are experienced and thorough in this process. In a nut-shell, we work with great solicitors, all working together, holding a client’s hand through to completion of their new amazing home, and often a home they will create memories to last a life time.
In return, we get our sale through quicker and often end up with a bunch of flowers, some wine or even some cake!
While the team work incredibly hard for our clients to help them with their big move, reform in the housing sector is needed.
We can call a loved one with a piece of metal in our ear, we can watch our favourite shows on a big lit screen, we can of course fly to the moon, but sometimes in the UK, we cannot move into the home we so desperately want for several months.
Over to you Mr Jenrick...
This column is sponsored by Minors & Brady.
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