Is centralised communication between buyers, sellers, estate agents, solicitors and other professionals key to speeding up property transactions?
It would certainly help! Ask any buyer or seller what their biggest headache is/was when going through the process and the majority would say poor communication and not being updated on progress. Bad communication effects everyone, including the professionals. All suffer some degree of stress and anxiety.
The primary goal of centralised communication for property transactions is to ensure all parties are on the same page and information is shared quickly to reduce the risk of miscommunication and misunderstandings. When different parties communicate through their own channels, there is a greater likelihood that important information will be missed or misinterpreted and there can be significant delays whilst each party waits for information from the others.
WHAT ARE THE BENEFITS OF CENTRALISED COMMUNICATION?
By using a central platform, everyone involved in the transaction can access the exact same information in real time, so nothing is lost in translation. It also addresses a fundamental need for buyers and sellers, which is being kept-up-to-date on progress. A centralised communication platform allows all parties to update everyone at the same time. This cuts duplication and improves efficiency by reducing the number of emails and phone calls between them. Centralised communication can also help to improve transparency and accountability. When all parties are using the same platform, it becomes easier to track progress and identify any issues that need to be addressed. This can help to ensure that everyone is meeting their obligations and that the transaction is progressing smoothly.
TEAMWORK MAKES THE DREAM WORK!
There is no escaping the fact that a property transaction is a team activity. It relies on multiple industries and people comming together for a common goal. For this reason alone the 'blame game' that currently exists between estate agency and conveyancing has to stop. It is detrimental to progress, as one side cannot operate successfully without out the other. Many say its the system that is broken, that the processes are the problem, others blame it on the people and a mindset. There is truth in both. Some systems and processes are still antiquated, for example within local authorities. But many have, or are in the process of addressing this, with new technology and process improvement.
CONSUMERS ARE IN THE DRIVING SEAT
Whether you like it or not, consumers are the ones leading the way right now. They are used to more modern ways of doing business. They can buy products and services at the click of a button, connect and communicate with companies 24/7 and can ask questions and receive responses in real time. They don't understand why the property industry and conveyancing hasn't caught up and why for many solicitors in particular the only online communications technology they do use is email.
CENTRALISED COMMUNICATION TOOLS THAT ARE AVAILABLE NOW
There are already tons of apps and platforms that facilitate centralised communication, many of which are already being used by agents, solicitors and their clients. All have their own strengths and weaknesses.
Case Management, Chain Management, CRMs and Portals
Recent research showed that many employees are uncomfortable using WhatsApp for anything work related. They felt it imposed on their personal space where they chat with friends and family. They don't like that colleagues can see when they are active and that they are constantly being dragged into work related conversations. They also feel it isn't practical as find juggling multiple groups, sharing files etc. within the app is messy and difficult, particularly as many have user names rather than using their actual names. Employees also worry about accidently posting personal messages to a work chat and vice versa as there have been many stories were people have lost their jobs as a result of posting something innapropriate.
INTRODUCING CENTRALISED COMMUNICATION USING WIGGYWAM PROPERTY WORKSPACES
WiggyWam is a multi-faceted property platform that provides a completely different experience and a fun way to communicate centrally on property transactions. It has its own social networking technology where users become part of a UK-wide online community. Built into this community are Property Workspaces where all parties involved in a transaction can collaborate privately throughout the process. To follow are a couple of the key features of WiggyWam that support centralised communication between agents, solicitors and homemovers on property transactions.
The WiggyWam ecosystem includes a property portal that (like all major portals) centralises the estate agent's property listings and allows agents to setup feeds to import their properties automatically. Unlike other portals, when a user decides to make contact with the agent regarding a property, they can do so in real time via instant live chat, inbox messaging, video calling and through discussions in groups, forums and timelines across the site. The portal doesn't centralise communication around the transaction, but it is the begining of the process that brings the potential buyers into the fold. WiggyWam provides by far the most opportunities for agents (and solicitors) to engage with their target audience than any other platform out there!
NOTE: workspace managers can delete or edit existing tasks and milestones, add new ones and set deadlines/target dates. Also, if for any reason an agent does not want the role of workspace manager, they can easily assign responsibility to someone else involved in the transaction. For a quick guide on managing and using workspaces check out our Learning Center (you will need to be logged in to view this).
Workspace File Sharing
Workspaces also allow for sharing of all types of files with the rest of the members including documents, spreadsheets, videos, audio and other media etc.
Buyer Engagement and Workspace Onboarding
Buyers can search the portal and when they find a property they like, they simply register on WiggyWam so they can chat live with the agent or send them an inbox message. If they make an offer that is accepted, the agent can invite them into the associated property workspace and assign the buyer's task list to them. They can also obtain the buyer's solicitor details once appointed and invite them to join too along with any other relevant parties.
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Why doesn't our estate angent and solicitor know about this property workspace? It sounds like exactly what we need right now. Our sale is taking forever. We put our place up for sale 11 months ago, found a buyer 9 months ago and still waiting. It is very stressful and I think disgraceful. Like you say we can do everything else instantly now so why can we not use this site to make things easier for us? I have sent the link to my estate agent and our solicitor as if this is available to us I want to know why thry haven't told us about it.
We are first time buyers and disgusted at how long it has taken for us to purchase our flat. We hired a solicitor we found highly rated on Google. They are terrible at communicating with us. We have spoken to someone once in all the 6 months we have been going through this. I wish I knew that there were good and bad solicitors We thought they were all trustworthy and safe which is why we didn't think twice when we selected the one we did. I didn't know there would be a difference in the service or that the fact that mine was remote would be a problem. Why is nobody warning us about this? If they are watning us why don't I know about it as I don't know where to go to find this out. Sorry but your industry sucks!
I just found this through Twitter. I didn't realise this existed. Can you please tell estate agents in Newcastle about this please and also the solicitors as my experience here is terrible. I am trying to sell my deceased father's property and nobody tells us anything. I keep messaging the estate agent, we are with yopa and nobody responds. Myself and my brother are very stressed out with the whole thing it is like nobody cares and nobody is there to help us.