During the current uncertain housing market, effective sales progression has become more important than ever.
It is vitally important for agents to have efficient processes in place when it comes to sales progression in order to minimize fall-throughs and accelerate transaction times.
Here are my top 10 tips for agents to focus on to ensure their sales progression function operates at its best.
Tip 1: Make sure you have a dedicated sales progression resource
Sales progression requires undivided attention and expertise. By allocating a dedicated full-time resource to this area, your agency can focus on what it does best: selling properties.
Tip 2: Cultivate transaction stakeholder relationships
Building strong relationships with all transaction stakeholders, including solicitors, buyers, sellers, and mortgage providers, is crucial for successful sales progression. Foster open lines of communication, establish rapport, and strive for a collaborative approach. This will facilitate smoother transactions and make problem-solving easier when obstacles arise.
Tip 3: Give solicitors the space they need to do their job
The relationship and lines of communication between agent / conveyancer has been an ongoing bone of contention. Allowing solicitors the time and space they need to carry out their work effectively will help to avoid unnecessary interruptions. They need to be trusted to handle the legal aspects of the transaction efficiently. Communication is important but ensure it doesn’t hinder their progress.
Tip 4: Make sure your interactions are purposeful
Your interactions with all parties in the chain need to have purpose – with a focus on moving the transaction forward. Emphasise proactive problem-solving rather than merely providing updates.
Tip 5: Analyse every element in every chain
Ensure you consider the entire chain and keep informed about the progress of all parties involved including the buyers and sellers, mortgage providers and solicitors. This means that you can take proactive measures if and when needed.
Tip 6: Act on the important data points
Focus on tracking the metrics that matter in order to drive continued sales progression improvement. For example, identify key performance indicators that align with your goals such as average transaction times, fall-through rates, and customer satisfaction. Regularly review and analyse these metrics.
Tip 7: Assess success based on challenging transactions
By evaluating how your sales progression function handles challenging scenarios you can analyse how you deal with complex chains, difficult communications or unexpected hurdles. This approach will help identify areas for improvement in future.
Tip 8: Embrace technology to maximise efficiency
Embracing technology will help you to streamline and enhance your sales progression process. Utilise software for efficient document management, case tracking, and communication. Explore platforms that enable secure and transparent collaboration among all parties involved.
Tip 9: Set realistic completion expectations
Set realistic expectations with all parties involved regarding the completion timeline, in order to help avoid disappointment, confusion, and unnecessary stress throughout the transaction process. This will also help to build trust.
Tip 10: Keep developing sales progression skills
Invest in the ongoing training and development of your sales progression team. Provide them with the necessary knowledge, skills, and resources to excel in their role. Keep them updated on industry changes, legal requirements, and best practices.
Jamie Taylor is operations manager at Assured Sale & Progression (ASAP)
