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Compliance Update April 24, 2024
     

Roseberry Newhouse revolutionises property transaction times with innovative solutions

In an era where efficiency is paramount, Roseberry Newhouse Estate and Lettings agents, a Member of The Guild of Property Professionals, is leading the charge in transforming the landscape of property transactions. Under the leadership of John Newhouse, Managing Director of Roseberry Newhouse, the company has implemented groundbreaking initiatives to streamline the conveyancing process and significantly reduce transaction times.

 

According to industry data, the average timeframe for a property sale to conveyance stands at a staggering 20 weeks, causing frustration and uncertainty for both buyers and sellers alike. Recognising the need for change, Roseberry Newhouse has taken proactive steps to address this issue head-on. 

 

"When the timeframe for a home move extends to over six months it creates unnecessary stress for all involved in the process. A government review into the housing process has yet to offer any views despite it being under review for years,” remarked John. “Traditional methods of conveyancing have become antiquated and inefficient. It's time for the industry to embrace digital solutions and streamline the process for the benefit of all parties involved."

 

One of the key innovations introduced by Roseberry Newhouse is the establishment of a dedicated sales progression team. Tasked with overseeing every aspect of the transaction process, this team ensures seamless communication and timely updates for clients, often surpassing the responsiveness of solicitors. “In most cases the buyers and sellers will hear updates from us before their solicitors. The onus on the estate agents to administer the process has increased dramatically over the years,” he comments.

 

Additionally, Roseberry Newhouse has leveraged technology to enhance transparency and efficiency. Through the implementation of WhatsApp groups for regular client communication and advanced monitoring systems for transaction chains, the company has set a new standard for customer service and satisfaction. “We have introduced technology to monitor all transactions in a chain, regardless of our involvement. This has ensured that our clients are always kept up to date with aspects that have an impact of their transaction,” John comments. 

 

In a groundbreaking move, Roseberry Newhouse, in collaboration with its conveyancing partners, has introduced the Exchange Ready Service. This offering streamlines the preparation of essential paperwork and searches, akin to the earlier Home Information Pack, thereby reducing transaction times to a remarkable 60 days. Notably, clients participating in this service have experienced a negligible fall-through rate, highlighting the efficacy of this innovative approach. “The principal is that the buyer purchases the pack, giving greater confidence in commitment from both parties. Ironically, despite the positive impact it has reducing transaction times, the only negative response to this has been from solicitors,” notes John.

 

"By embracing modern technology and reimagining traditional processes, we have successfully cut transaction times and minimised stress for all parties involved," he adds. "It's time for the industry to adapt to the changing landscape and prioritise efficiency and customer satisfaction. As the housing market continues to evolve, Roseberry Newhouse remains committed to driving innovation and setting new benchmarks for excellence in property transactions."

 

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