21 Jun Sales Progression Checklist
Our Sales Progression Checklist is designed to help Estate Agents get their transactions over the line faster. As dedicated sales progression experts, we understand the importance of efficient processes in minimizing fall-throughs and accelerating transaction times. This checklist outlines ten essential points that Estate Agents should focus on to ensure their sales progression function operates at its best.
Have a dedicated, full-time sales progression resource
Sales progression requires undivided attention and expertise. By allocating a dedicated full-time resource to sales progression, your agency can focus on what it does best: selling properties. A dedicated professional can proactively manage the process, ensuring faster transaction times and fewer fall-throughs.
Give solicitors the space to work
Solicitors play a crucial role in the sales progression process. Allow them the time and space they need to carry out their work effectively. Avoid unnecessary interruptions and trust them to handle the legal aspects of the transaction efficiently. Communication is important but ensure it doesn’t hinder their progress.
Look up and down the chain
Successful sales progression involves considering the entire property chain, not just your immediate transaction. Stay informed about the progress of all parties involved, from buyers and sellers to solicitors and mortgage providers. By having a clear understanding of the entire chain, you can anticipate potential bottlenecks and take proactive measures to overcome them.
Focus on progressing, not updating
Instead of constantly updating stakeholders, focus on actively progressing the transaction. While regular communication is important, ensure that your interactions with solicitors, buyers, sellers, and other stakeholders are purposeful and move the transaction forward. Emphasize proactive problem-solving rather than merely providing updates.
Manage completion expectations
Set realistic expectations with all parties involved regarding the completion timeline. Clearly communicate the estimated timeframes and potential challenges that may arise during the process. By managing expectations upfront, you can avoid disappointment, confusion, and unnecessary stress throughout the transaction process.
Cultivate transaction stakeholder relationships
Building strong relationships with all transaction stakeholders, including solicitors, buyers, sellers, and mortgage providers, is crucial for successful sales progression. Foster open lines of communication, establish rapport, and strive for a collaborative approach. This will facilitate smoother transactions and make problem-solving easier when obstacles arise.
Track and act on relevant metrics
Focus on tracking the metrics that matter and avoid getting overwhelmed with excessive data. Identify key performance indicators (KPIs) that align with your goals, such as average transaction time, fall-through rate, and customer satisfaction. Regularly review and analyse these metrics to drive continuous improvement.
Assess success based on challenging transactions
Instead of solely measuring success based on your best transactions, evaluate how your sales progression function handles challenging scenarios. Analyse how effectively your team deals with complex chains, difficult solicitors, or unexpected hurdles. This approach will help identify areas for improvement and ensure your sales progression capabilities are robust across all transactions.
Leverage technology and tools
Embrace technology and leverage relevant tools to streamline and enhance your sales progression process. Utilise software for efficient document management, case tracking, and communication. Explore platforms that enable secure and transparent collaboration among all parties involved. By leveraging technology, you can optimise efficiency, standardise best practice, reduce manual errors, and improve the overall sales progression experience.
Continuously train and develop sales progression skills
Invest in the ongoing training and development of your sales progression team. Provide them with the necessary knowledge, skills, and resources to excel in their role. Keep them updated on industry changes, legal requirements, and best practices. By continuously investing in your team’s professional growth, you can ensure they are equipped to handle any challenges that arise during the sales progression process.
Whether you have an in-house team or are looking to outsource to a sales progression expert like us, your customer wants a stress-free, hassle-free sales progression experience as much as you do. Our team of dedicated progressors specialise in streamlining the sales progression journey, allowing you to focus on what you do best, selling properties. With our industry knowledge and experienced progressors, we can help you achieve faster transaction times and minimise fall-throughs. To find out more – click here