The Unglamorous Side of Estate Agency

How dirty is your estate agent? I say this as there is a part of the estate agency sector that few talk about, because it’s not very glamorous. It’s where a quagmire meets a murky old swamp and mud throwing is commonplace. I am of course talking about the point of going Under Offer to Exchange of Contracts and the conveyancing process that kicks in at this point.

Social Media Glamour

Many estate agents love to plaster themselves all over social media, in the hope that an alternative career in perhaps modelling may come their way. Talk of their styled photoshoots and filming their glitzy movies around their clients’ homes is all very glamorous, as they sip their matcha infused latte enroute to their next listing. However, many of them quickly look the other way when the property sale is agreed and ignore the hard work when it really starts. Afterall, getting one’s hands dirty doesn’t quite align with the polished social media looks.

Extending Timelines

It wasn’t so long ago, that getting over the line in four to six weeks was standard. I am now advising clients that three to four months is more commonplace. This is often met by a sharp intake of breath and eyes widening, as people come to terms with the extreme timeframes we are now all dealing with. The obvious question is of course ‘why’?

What is the Conveyancing Process?

As I see it, every constituent part of the conveyancing process has been dragged out on the diagonal. Lenders have become even more risk adverse and almost come across that they don’t wish to lend. Local authorities continue to have backlogs of work, as they have laid off staff or they now only work on a Monday afternoon every other week. Quality building surveyors have a queue outside their offices and many conveyancing solicitor firms drag their heels, as they have little incentive to go faster as they are paid no matter the result, plus they are paranoid about getting sued in several years’ time.

All of the above is on a direct collision course with estate agents, who are coming from the opposite direction. However with so many moving parts, differences of opinions and all of them taking their time, is it any wonder our broken conveyancing system is like wading through one big bog?

The role of Estate Agents

Estate agents are only paid on results. If a property doesn’t transact, they get nothing. Lateral thinking and problem solving are vital, but most importantly so is having the time and work ethic to wade straight into the conveyancing swamp. Here they need to plunge their hands deep into the shadowy waters and sift through the issues that will come their way, because quite frankly few others in the process will do this. Your chosen estate agent must have a fearless sales progression team, who can hold their nerve in the most difficult and stressful of times. Equally ensuring both solicitors involved in a transaction are hard hitting and contactable. If you need to pay a bit more for quality, then go for it.

Such As…

As an example, one estate agent I know has a sales progression staff member who is nicknamed ‘the rottweiler’. You can guess why this is the case and good luck to anyone who stands in their way, especially if they have been let of the lead – even I would quickly step aside! However this is currently what is required, plus having immediate communication with your estate agent. Matters can escalate within moments and if these aren’t immediately dealt with, your sale could quickly go off course.

Use The Best

The whole conveyancing process is tough, but is made easier by having a top team around you and proactively looking out for you at every stage. So the next time you see an estate agent and they stink from their sales progression, make sure you instruct them.