Page 9 - Redbrik: Property & Lifestyle Magazine SPRING 2018

FEATURE
them a fair and accurate depiction of the market. However, perhaps there is more we could do.
Should Redbrik be radical? Should we crack some eggs and lead from the front to do more to protect the moving process?
One potential idea could be to introduce something like a buyer referencing process including a buyer application fee. If a buyer has some ‘skin in the game’, would they be less likely to walk away from a purchase just days away from the exchange
of contracts because they now think the ‘lounge is a bit small’ or they have seen something else?
I’d hope they take the process more seriously and consider if they truly do want to move forward with
the purchase. You might argue
that we do not want to put any potential buyers o from o ering
on a home by introducing fees or further referencing. In part, I’d agree, but surely getting the right buyer is preferable to agreeing on a sale to someone that will ultimately walk away further down the line.
Application fees are already taken
in new-build sales and (currently)
for rental properties, and both sectors traditionally have very low
fall through rates. If buyers are not prepared to pay a fair amount to apply or be fully referenced, are they serious enough?
When it comes to sellers, we are great believers in getting them legally ready to sell as soon as they are on the market. This process ensures that
potential legal issues are resolved much earlier in the process and results in fewer transactions falling through. You’d be amazed how many homeowners try to sell without building regulations for example. Getting legally ready is much the same idea as the Home Information Packs, which if they’d been implemented more elegantly, could have worked well for all parties.
For now, we will monitor the situation and continue to provide the unrivalled service we believe Redbrik o ers our sellers, buyers, Landlords and Tenants so that they have the best chance of moving home. However, if you have any ideas on how we can further improve the process, we always love to hear them, so please email me at mark.ross@redbrik.co.uk with your thoughts.
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