Have you ever paused to reflect on the unusual behaviour of otherwise polished professionals at the mere mention of a 28-day exchange of contracts? Why do we still see some seasoned industry players display such trepidation at this target? Some even go so far as to declare defeat before they start!

The property sector may seem to sit in two camps these days. Established solicitors, estate agents and financial advisors offering a traditional service with long adopted methods of delivery versus a newer breed of process-driven, more entrepreneurial services, promising lower fees and speedier results. 

Our job here today is not to comment on either of these as the best options, but rather to provide a signpost on harnessing ‘the big team’, whoever shows up for each sale, towards achieving the 6-way win.

Let’s establish the key stakeholders in most New Homes house purchases before we unpack this further. We see six main players:

  • The customer
  • The developer
  • The developer’s solicitor
  • The customer’s solicitor
  • The financial advisor
  • The estate agent

Six potential parties – can we call them a team?  Should we call them a team? We believe the answer is a resounding – Yes! After all, everyone is working towards the same end goal. All with something to gain from this transaction being signed, sealed and delivered as swiftly as possible. 

In the case of a chain, this scenario can be replicated several times over and whilst it makes for a more complicated transaction – let’s remember that everyone benefits from a smooth and seamless transaction. 

It can sometimes feel like the developer is portrayed as holding the ‘sword of Damocles’ over every sale, making unreasonable demands, as if no-one but them stands to benefit from this transaction in any way. 

Perhaps then, it’s time to start re-framing an exchange deadline as a potential 6-way win. Let’s tune ourselves into ‘WII-FM’ for a moment – otherwise known as ‘What’s in it for me?’. We understand that to get buy-in to any challenge, you need to unpack and sell the ’win’ for both sides. That’s something we get passionate about when we are coaching our Sales Managers and Directors.

The signs are encouraging in our sector, with a swathe of solicitors, estate agents and financial advisors, who are keen to partner with developers to create group traction in helping the customer get the result they need swiftly and seamlessly, whilst clearly demonstrating a high level of due diligence at every turn. 

Each of these potential external partners also understands how a smooth, speedy purchase reflects well on each business involved. With everyone pulling together with integrity and transparency, this all adds momentum to a combined bid to deliver world-class service in the New Homes industry.

We believe that an exchange deadline can add true benefit to the customer journey. It need not be seen as the fly in the ointment to delivering an otherwise exceptional experience. Consider this - if moving home ranks as one of the most stressful events of our lives, why would anyone want to prolong the experience any longer than is absolutely necessary?  Think, ripping off a plaster – slow equals more pain!

So, a swift exchange can mean:

  • The customer suffers less stress because the purchase is secure that bit earlier
  • The developer wins because the sale is secure and pipeline cashflow and profit is clear
  • Sales consultants win because there is more clarity and momentum in achieving targets
  • Solicitors, agents, and IFA’s gain from increased cashflow with quicker fee-earning and commission income

Before we can influence our external partners and most importantly the customer in the gains of laser-focused sales progression, we need to genuinely believe it ourselves throughout all levels of the business. Time then to bid a final farewell to any unofficial apologetic stances or tacit acceptances that a swift exchange target is unreasonable, unrealistic or stressful.

We’re known for placing a lot of emphasis on smart and intense sales progression at Ellare. We know how it can transform cashflow in a business and as such we coach our Sales Managers to pitch themselves at the heart of this ‘big team’ effort.  

It’s a role that uniquely places you in the centre of each transaction: to influence, direct and harness the otherwise potentially disjointed efforts. Consider yourselves the conductor of a world-class orchestra and be sure to get the best available players in front of you! It is time for you to encourage all comers to the ‘big team’ that swift exchanges are a great opportunity for all. A definite challenge but one that comes with substantial rewards!

 

Continue your journey and learn more about Driving Sales by exploring our range of FREE new home sales training modules.

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