There has been a lot made recently of Communities Secretary Sajid Javid’s call for making the home buying process simpler, cheaper and with less stress – something we all would agree is a good thing. The aim is to make the housing market work better for all those in the process – do more deals in less time and with less risk.
Recent Government research doesn’t paint a great picture; a quarter of people surveyed said they’d change their agent, solicitors get a hard time and there are perceived delays that are frustrating and seemingly unnecessary. Perhaps a little more knowledge all round would help?
One of the key issues for agents, sellers, buyers and solicitors is that of knowledge, understanding the property they are buying more clearly and then asking the right questions of the right people. To do this, there needs to be a way of researching a site beforehand.
For all parties concerned, there are regimented processes to researching, surveying and conveyancing property deals. However, there is a way to potentially supercharge this process for all concerned, even for the first-time buyer. Data. Much of the information required in buying a property is freely available, if you know where to look.
As an agent, you have loads to worry about right now, chiefly being the ‘Know Your Customer Checks’ for anti-fraud and money laundering requirements. But being one step ahead of the competition researching a site beforehand could really empower you and help impress the client.
For buyers, understanding any issues the site has from a technical or environmental perspective, Title boundaries and Planning would be more than insightful. Many question could be answered by the buyer themselves with a little help.
Removing some of the minor elements for conveyancing, such as Title and Register research, site information and Planning etc., if placed in the hands of the buyers and sellers could remove some fiddly admin tasks and speed the process up.
The point being, it’s time to take the subjectivity out of property deals and open the process up to the mountain of data available to all in the process at a much earlier stage. The knowledge gained empowers all, can speed the process up and bring deals closer, with less risk involved. Nimbus Property Group has a piece of proptech software that is FREE to access to all and could unlock a and enable property research for consumer and commercial business alike. It brings together a massive amount of property data from all the key respected industry sources and amalgamates the data into a single Google Maps-based, intuitive, cloud-based (mobile enabled) software.
See the recent Government Press Release HERE
Check out the latest RICS Proptech blog HERE
Have an opinion? We’d love to hear your thoughts. Tweet us @nimbusmaps.