October 2020 Blog

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October 2020 Blog

We’ve witnessed first-hand the gripes that customers have with lettings and estate agents, here we explain how we’ve separated our business from the masses

Rather than a lettings and estate agent, we’re known to our clients as property consultants. This means anyone looking to buy, rent, let, sell, or develop can come to us.

We’re not just another agent. Our mission is to reshape the property industry. The stigma attached to lettings and estate agencies has been brought about by customer neglect, clock watchers, and target-driven teams.

Here are two bad behaviours that some agents have been known to carry out, and how The Lettings and Sales Business differentiates itself as a property consultancy service.

Sending landlords and vendors off with no guidance

Those who are new to letting properties (including accidental landlords) will have a lot of questions and gaps in their knowledge on the subject.

The same applies to those selling their home for the first time. And, understandably so. They aren’t experts in the property market or the laws associated with it.

These people will most likely have a job and a family. There’s not much time left in the day to learn everything an agent knows, or should know.

They won’t be in the know about certificates they need to gain or work that needs to be done to ensure the property is compliant with legislation, and to secure the most attractive position on the market.

To us, it’s essential we provide a hand-holding service. It is very rare that agents will provide advice and guidance as to how to get their clients’ properties up to scratch. They also won’t inform prospective tenants and buyers on what to look out for in a quality, safe property.

Clients and customers should never have to chase. An agent should be contacting you every time they have an update.

While landlords and vendors have other priorities in their lives, we oversee all the requirements that they may have in relation to their properties, such as dealing with any maintenance that may be required. We can manage the whole project for them and hopefully, help them to grow their portfolios.

Taking tenants and buyers on wild goose chases

A good agent will listen to what a customer actually wants. Instead, some are driven by hitting targets and earning commission.

This can lead to viewings with no substance that don’t match either party’s requirements. It causes frustration for both sides, and takes away the enjoyment of the process for all.

As an agent, they’re letting the buyer down, the vendor down, and themselves down because they’re not seeing their fee for months.

We prepare our customers to be ready to make their offers and hold their hand throughout. It might be that they get into a bidding war and feel anxious. Or, they could be worried about finances. Whatever the case, our customers are never left to deal with their problems on their own.

As property consultants, we understand what our customers have gone through to make sure that they can even gain a mortgage and a deposit. We also understand the process they go through to find a house. And we understand how happy somebody is when they receive a mortgage offer or has their offer accepted. We know the excitement. Our goal is to maintain this for them.

Buying or renting a house is a big deal, it’s not like buying a pair of shoes. Matching the right customer to the right home requires knowledge, experience, honesty and care.

We provide no-obligation advice and reassurance to those who need it, and a personal approach to ensuring our vendors, landlords and developers secure the right buyers, tenants, land and marketing strategies for them.

In other news

Our very own Co-Director Narinder will be working closely with some Leicester Tigers players. As the players have relatively short careers, some are looking ahead to their retirement from the sport. Narinder has offered to provide support and advice to those interested in going into property development. We’re always keen to provide advice and support in our field of expertise, which include property, law and IT.

After just a year in business, we worked out that The Lettings and Sales Business had grown by a dramatic 116%. We’ve since discovered, just two months later, that that figure has increased to 200%! We’re so pleased to announce this growth and thankful to our customers across the Midlands.

Jaz and Narinder

A word from Bhumika Parmar, solicitor and director of BP Legal Solicitors

Sellers and buyers can assist the process of selling/buying and make the conveyancer’s job easier by carrying out the following points.

·        The seller should instruct their conveyancer upon listing their property on the market. This will assist with time in retaining the client, now firms are working electronically this reduces the timescale.

·        Instruct the conveyancer to order leasehold management packs where applicable. There are often delays for LPE1 information to be returned causing delays on leasehold transactions.

·        Sellers should ask their conveyancer to order local searches, and drainage and water searches. This can speed up the process of completion. By ensuring the estate agent has the correct information about planning permission, buildings regulations, rights of way, unadopted roads, lease terms, ground rents and flying freeholds, etc., most post-valuation queries can be satisfied. Delays are being reported at the local authorities in obtaining searches. Remember, searches won’t even be ordered until after the conveyancer has been instructed.

·        Ask the conveyancer to review the property information forms and title and to identify any issues which might impact a sale. Things like onerous lease terms, defective titles, and so on can then be highlighted at the outset. If a buyer pulls out through the transaction, the seller may be unlikely to find a new buyer in time to complete before the stamp duty holiday.

·        The buyer should obtain a mortgage decision-in-principle in advance of putting an offer forward – often the mortgage advisor will require vast amounts of information and this can delay the mortgage.

·        Buyers should instruct a conveyancer prior to offer. This will assist with the timescale of the transaction, and where there is a legal pack; to ensure the buyer will be able to proceed.

You can get in touch with Bhumika by emailing bhumika@bplegal.co.uk or calling 0116 253 6856.

 

solicitor

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