tm blog

A reported shortage of estate agency staff is putting new pressure on branches, forcing many to explore innovative ways to save time and harness the benefits of the latest PropTech solutions. 

According to a recent article on Property Industry Eye, a long-established specialist recruiter has reported the worst shortage of estate agency staff in a generation. As Anthony Hesse, founder of Property Personnel, states; “The agency sector is experiencing the worst staff shortages at a point when the property market is going through a very challenging time.”

This is increasingly making PropTech solutions a necessity – rather than a luxury – as branches struggle to find ways to bridge the staffing gap and successfully progress their sales. 

PropTech can help teams feel like they’ve got an extra person in the office 

Embracing the latest technology, such as tmgroup’s mio solution, can help estate agents adopt a smarter approach to managing the home buying process – and increase overall efficiency. 

Designed to help estate agents speed up transactions, reduce fall-through rates, and win more business, mio is a sales progression and communication tool created by property experts for property experts. Referred to recently by an early adopter estate agent as: “Like having another person in the office.”

This is exactly what estate agents need right now; to be embracing the latest PropTech solutions to make sure their teams thrive in a challenging market place – even if their employee numbers aren’t at full strength. 

Jon Horton, Product Director – mio, comments:

“The days of having dedicated members of the team taking care of sales progression is over. In such a challenging market, there is an inevitable squeeze on resources. 

With this being compounded by the lack of estate agents available to hire, it’s down to the individual employees across the branches to pull together and deliver business as normal. Effective sales progression that puts the customer at the heart of the process is vital to quickly convert the hard work invested in winning the listing and finding a buyer into real income. Harnessing the benefits of PropTech solutions, such as mio, can help branches work more efficiently and stay ahead of the game.”

To find out more about mio, connect with Jon Horton on LinkedIn.  

Jon Horton

Jon is pleased to take a lead role in the next chapter of the journey for tm as we launch mio – a sales progression and communication tool designed to help Estate Agents.

 

Want to improve the reputation of your firm? Talk to Clare Yates! She has over 25 years’ experience in the property industry and is more than happy to share what she knows to help you get the best out of your business. 

Here, she explains how language choices can help to create customer confidence (or doubt!) during a telephone conversation. 

Never forget that customers are coming to your team because they can’t find a way to do it themselves. This puts customers in a very vulnerable position, and they can quickly become angry if they feel helpless, dissatisfied or patronised.

This is why it is so important that your team use words and phrases that help to instil confidence – instead of saying, “I’m not sure…”, “I’ll try to find someone to help you” and “I’ll have a go at sorting that for you…”. 

Here are some positive words and phrases that can make all the difference:

• “Yes, you are through to the right person to help you…”

• “I can definitely help with that…”

• “I’m sure I can do that for you…

• “Certainly…”

• “Let me assure you…”

• “I’m handling this for you today, and my name is….” 

• “Don’t worry, I’ll talk to my colleague and find the answer for you…”

Take a step back…

If all of your team members started using these positive words and phrases in every telephone call, would they have easier telephone conversations with customers? Would they be able to wrap up calls faster – rather than answer the same question 3 times to try to reassure the customer? What could this do for your efficiency, overall customer experience and reputation of your firm?

With thanks to Clare Yates, Senior Business Development Manager at tmgroup. 

Got a question? Connect with Clare on LinkedIn.

Conveyancers will soon be able to reduce the number of requisitions their firm receives with the arrival of Post-Completion services on tmconvey - from 30th April 2018.

Designed to diminish the chance of manual error, this newest addition to the tmconvey platform will help conveyancers rise to the increasing pressure from Land Registry and HMRC to submit their SDLT and AP1 forms more efficiently. 

Validation and error checking helps users get it right first time

Easy to navigate, electronic SDLT and AP1 submission forms enable every user to progress quickly by only showing the questions that need to be answered. Whilst the online SDLT calculator makes it easy for even the newest members of a team to pay Stamp Duty Land Tax fees with confidence.

To reduce the chance of mistakes, the SDLT and AP1 submission forms come with built in validation and error checking. Accompanied by clear summary pages, users can also jump to any section that requires their attention.

Prepopulated fields make it quick and easy to submit SDLT and AP1 forms

As tmgroup are a compliant software vendor for HMRC and Land Registry, the SDLT and AP1 forms are always up to date, and submitted directly to them – without incurring any delays or additional costs.

By being fully integrated with tmconvey, users can process their SDLT and AP1 submissions without wasting timing logging in and out of multiple websites. Users also benefit from shared information and prepopulated fields across their SDLT and AP1 submission forms, as well as their cases – reducing the chore of double entry and saving time.

Automated audit trails provide improved visibility and proof of compliance 

With clear time stamps and status updates within tmconvey, automated audit trails enable Heads of Department to track every SDLT and AP1 submission status across their team – and even multiple offices – for improved visibility and proof of compliance. 

Users can also login and reply to requisitions – without having to check their emails. Whilst ‘impending cancellation date’ reminders prompt to close an unanswered requisition and complete AP1 submissions, so they don’t waste time resubmitting. 

Jane Towner, Customer Experience Director at tmgroup comments: 

“With lenders reviewing AP1 submission times, and the SDLT filing and payment window set to reduce to 14 days later this year, the latest evolution for tmconvey will make it easier for firms to maintain a good reputation in the market. We’re looking forward to launching AP1 submission and offering full post-completion services to our customers.”

Post-Completion services COMING SOON to tmconvey 

Complementing the existing SDLT submission service, new AP1 submission will be available on tmconvey from April 2018.

If you would like to request a demo, please get in touch.

The Coal and Water Authorities have advised of their annual round of price increases – taking effect across April 2018. 

The Coal Authority are also making changes to their cancellations policy.

These changes will be implemented automatically on the tmconvey platform, and will be reflected in any new orders as the changes take effect across the month. 

The full details can be seen in the tables below:

Coal Authority Price Changes: Effective from 16th April 2018

Changes to the Coal Authority’s pricing will be implemented automatically on the tmconvey platform, and as such any new orders placed on or after 16th April 2018 will reflect the new pricing.

Coal Authority Cancellations Policy Changes: Effective from 16th April 2018

Alongside their annual prices increases, the Coal Authority’s cancellations policy will also be updated from 16th April 2018. 

The main changes to the cancellations policy are:

> To provide clear examples of where cancellations can be provided.  

> The limit of 3 cancellations will also be applied to duplicate reports and incorrect reports types being ordered.  

> All of Groundsure’s “Enviro All-in-One” reports will be subject to a further 3 cancellations outside the 72 hour timeframe.

Water Authority Price Changes: Effective from early April 2018 

Changes to the Water Authority’s pricing will be implemented automatically on the tmconvey platform, and as such any new orders placed to the respective Water Authorities on or after the below stated dates will reflect the new pricing.

If you have any questions, please contact our Helpdesk on 0844 2499200 or email helpdesk@tmgroup.co.uk

Want to improve your staff’s morale and ability to deliver a great customer experience? Talk to Clare Yates! She has over 25 years’ experience in the property industry and is more than happy to share what she knows to help you get the best out of your business. 

Here, she explains how your team may unknowingly be upsetting customers and each other – and compromising the customer experience. 

I previously spoke about how your customers can bring their own experiences, mood and emotions to the telephone conversation. The same can apply to your team. 

What happens to everyone’s mood if there are roadworks in the local area that delay your team’s journey to work? Or if a storm or a power cut limits access to hot water and a morning shower? 

If your team are in a low mood due their recent personal experiences, it is important that they don’t let this have an impact on their colleagues and any customers they speak to.  

Take a step back…

Can you think of an occasion where a member of your team has acted out of character and been noticeably grumpy with you or a customer? How did you handle the situation? Did your team member even notice their behaviour had changed?

If you took 5 minutes to speak to your team about how their mood and personal situation can affect their working relationships, would they be more likely to step outside or make a cup of tea before they let their mood affect others – and possibly impact on business relationships and paying customers?

With thanks to Clare Yates, Senior Business Development Manager at tmgroup. 

Got a question? Connect with Clare on LinkedIn.

The number of house sales falling through pre-completion during the first quarter of 2018 reached its highest level for a decade – with slow sales progression being blamed as a key contributing factor. 

The fall-through rate from 1st January to the end of March 2018 hit 38.8%, according to Quick Move Now, a quick buy firm, which has monitored fall-throughs for many years. This marks a further increase on the 34.9% of fall-throughs seen in Q1 of 2017.

Slow sales progression is being highlighted as a key factor in the sheer volume of unsuccessful property sales, as Quick Move Now says “46% were attributed to the buyer changing their mind or the seller feeling that the sale was not progressing quickly enough”. 

Additional factors attributed to the high fall-through rate include: 

> 23% fell through because either the buyer or seller wanted to renegotiate after the initial deal had been agreed.

> More than 10% fell through because the property survey highlighted issues that caused the buyer to pull out of the sale.

> 11.5% of sales fell through because the buyer was unable to secure sufficient funding from their mortgage provider.

> 8% of failed house sales were the victim of a collapsed property chain.

Jon Horton, Product Director – mio, comments: 

“46% of all fall-throughs being attributed to slow sales progression is alarmingly high, however we all know that poor communication jeopardizes a buyer’s position. 

PropTech companies, such as tmgroup, are rising to the challenge to help agents and their customers by developing technology that connects the transactional parties together – such as the mio app fast-becoming the customers’ choice to see the progress of their home move, as well as send and receive messages with their agent at their convenience. 

The success of this is already being seen in the pilot of our mio solution, which has not only helped estate agents to win more business, but has helped to raise the bar in terms of sales progression and customer engagement throughout the transaction."

Liverpool, Leeds and Nottingham will be the first cities to host a brand new series of breakfast meetings this May; bringing property professionals together from across the industry to discuss everything from the true impact of the bank of Mum and Dad, to the ongoing challenges posed by increasing house prices. 

Facilitated by tmgroup, these property hub breakfast meetings will each take place from 7.30am to 9.30am; getting the working day off to a fresh and insightful start discussing local challenges from different points of view.

Set to expand across the country in 2018, this new series of property hubs is kicking off with the following dates and locations: 

• 15th May : Liverpool

• 16th May : Leeds

• 17th May : Nottingham

Click here for more information about our property hub breakfast meetings

Adapting to local challenges and opportunities is key to your firm’s success

Why attend a property hub breakfast meeting? Knowing what is happening on your doorstep is key to adapting to the challenges facing the property industry – and making sure your firm not only survives, but thrives.

By bringing local experts together for regular breakfast meetings, property hubs make it easy for you to not only stay up to date, but also grow your network in your local area – so you are first to take advantage of opportunities as they arise. 

Want to join the conversation?

If you would like to get involved in our property hubs and regularly share your voice with your local property community, please get in touch. 

Please note, places are limited and are allocated with care to ensure that every conversation is balanced by representatives from across the industry.

15th May : Liverpool

Find out more about joining the conversation 

16th May : Leeds

Find out more about joining the conversation

17th May : Nottingham

Find out more about joining the conversation

Housing Secretary Sajid Javid has announced new measures to help improve the home buying and selling process in the UK; demonstrating a proactive response to the ‘Call for Evidence’ consultation, which closed in December 2017.  

tmgroup have welcomed the announcement, but accept there will be some scepticism. In particular around the newly-proposed voluntary reservation agreements and how much difference these new agreements will make to fall-through rates – especially as they overlook some of the other factors that can also destabilise the property chain.

Reservations agreements will only go so far in preventing sales from falling through

Echoing the process already in place in the Scottish property market, where homemovers are tied in once they have made an offer, the introduction of voluntary reservation agreements are expected to help “prevent sales falling through and crack down on gazumping”.

Whilst this should help to alter the mind set of those entering into the transaction, as well as make the property chain more resilient, voluntary reservation agreements will not offer a complete solution to the problem – even in cases where everyone in the chain has signed up. 

Lack of communication and visible progression could still give homemovers “cold feet” – and compromise the sale

This is because voluntary reservation agreements won’t address the other challenges that contribute to almost a third of all property transactions falling through before they reach completion – such as a lack of communication and visible progression between the consumer, estate agent and conveyancer. 

Even with a reservation agreement in place, this vital missing piece could still contribute to homemovers getting “cold feet” and rethinking their transaction.  

The exact consequences of someone with a reservation agreement pulling out of a transaction are yet to be known, as the initiative still needs to undergo a period of behavioural insight research and a trial, and so it will still be some time before the industry has a firm grasp of how strictly these agreements will be upheld – and how much of a difference they will make. 

PropTech companies are also making great strides to address challenges in the home buying and selling process 

Whatever the future holds for voluntary reservation agreements, it is positive to see such an initiative (alongside several others) in motion to try and address the challenges facing the home buying and selling process. 

It is also exciting to see new government measures complementing the pioneering strides PropTech companies are already taking to address the challenges in the property chain – such as tmgroup’s mio solution, which improves communication across homemovers, estate agents and conveyancers by offering complete visibility across the chain. 

With so many changes underway, 2018 is certainly shaping up to be a memorable year. Perhaps even revolutionary. 

Joe Pepper, CEO at tmgroup comments:

“The technology exists to make the property transaction smoother, safer and more transparent than ever before. Yet the average time to complete has grown by over 30% in the last decade – with poor communication being the number one cause of all complaints to the Property Ombudsman in the UK.  

Virtually all services can be completed from mobile phones in seconds, from paying for car parking, to taking out a loan from your bank.  The property transaction has been managed through a series of service-level agreements for years, but by bringing all the professionals together with the consumer in one secure online data room, the opportunity for a much faster and safer service becomes truly compelling.”

Want to improve your customer service? Talk to Clare Yates! She has over 25 years’ experience in the property industry and is more than happy to share what she knows to help you get the best out of your customer interactions. 

Here, she explains how asking every customer if now is a good time to talk – and genuinely responding to their answer – can make for happier conversations:

Any number of factors can affect your customers’ mood and emotions, and make them less tolerant of updates your team might need to share. 

This is why your team should never assume the customer is going to be calm and accepting – and always ask “Is now a good time to talk?” at the start of every call. 

If your team feel that a conversation isn’t going well, or if the customer would prefer not to talk, listening and responding to this is key. A simple response of “that’s fine, we don’t have to do this now, we can talk later” can help to leave the conversation on a positive note.  

Your team should also be able to recognise when they need to call a “time out” – instead of either parties losing their temper. They can introduce this by saying, “I appreciate your frustration. I’ll go and find some more information and call you back in 15 minutes.” 

Take a step back…

Does your team always ask “Is now a good time to talk?” Are they able to quickly recognise the signs of an unhappy customer – and do they feel confident enough to suggest they call back later? Would a 15-minute chat with your team help to create a better customer experience, positive word of mouth and maybe even a testimonial?

With thanks to Clare Yates, Senior Business Development Manager at tmgroup. 

Got a question? Connect with Clare on LinkedIn. 

The Board of CDS are excited to announce that as of 1st April a majority shareholding in their company has been acquired by property technology firm tmgroup for an undisclosed sum.  

Both CDS and tmgroup are committed to saving time for those working in the property sector, and  are looking forward to working together to create even more efficiencies and cost savings for property  professionals. They  also  bring  a  wealth  of  industry  knowledge  and experience to their new relationship.    

Paul Albone – Chief Operating Officer for tmgroup and incoming CDS Chairman comments:  

“I have known the CDS principals for many years and have been impressed with the brand and proposition they have created. This investment is a natural extension of the close working relationship we have developed and I look forward to enabling further collaboration and business growth of both  brands.”  

Since 1999, PropTech company tmgroup have been innovating and saving time for their customers, delivering on their vision to streamline the property transaction for the benefit of all. Working with  legal firms of all sizes, estate agents, lenders and developers, they help address business challenges, create more efficient processes and make the day‐to‐day tasks easier.  

This long‐standing commitment to the property sector is matched by CDS, a Conveyancing Search  Provider supplying all the necessary information required for a property transaction. With excess of 100 years' combined experience within the property search market, CDS deliver a reliable, fast and accurate service, alongside good communication, flexibility and a great customer experience.  

Following tmgroup’s majority share acquisition of CDS, both businesses will continue to operate as  separate companies to offer an unparalleled range of property‐related services to Conveyancers across England and Wales, as well as Scotland through tmgroup’s already well‐established Property Searches Scotland business, based in Glasgow.     

Matthew Joy – Sales and Marketing Director for CDS comments:  

‘The countless synergies between our two companies made this acquisition as uncomplicated and  elementary as any deal in our industry.    

Our individual strengths, as companies, complement each other entirely and will continue to be the  focus of our efforts moving forward.  

I'm also very pleased to say that this new partnership strengthens CDS and tmgroup's positions as  market leaders in the conveyancing sector.’    

Joe Pepper – Chief Executive Officer for tmgroup comments:  

“CDS  has  developed  an  outstanding  reputation  for  delivering  personal  search  services  in  the  Conveyancing market, and this acquisition makes perfect strategic sense for both parties, as well as  sending out a strong signal for our ongoing investment in the UK Property Search marketplace.    

tmgroup will support the existing CDS management  team to  grow the business even  further,  supported by our wider group and our ongoing investment in a best‐in‐breed technical capability.”    

The two companies will remain aligned in their current approach of utilising the right levels of  technical support and human touch to provide the very best in customer service to the Conveyancing industry.    

Coupled with the best methods of collating and delivering the most accurate, up to date information  and data available to its customers, tmgroup and CDS will now represent an even greater force moving forward.  

To Contact:    

Conveyancing Data Services : 0118 9690839 info@conveyancingdata.com    

tmgroup : 0844 249 9200 helpdesk@tmgroup.co.uk     

About CDS  

Conveyancing Data Services Ltd is a leading supplier of conveyancing searches to the property industry in England and Wales. Formed in 2010 by a management team, with a wealth of knowledge in the industry already, the company used its ethos of providing excellent customer  service to quickly build a strong and loyal client base.    

CDS are one of only a few companies of its type to employ a nationwide network of search agents for the compilation and supply of organically produced Local Authority and Water and  Drainage search reports to its customers.

The company employs 85 members of staff based all over England and Wales and at its main offices in Reading, Berkshire.  

About tmgroup  

As a leading IT solutions provider, tmgroup are the experts in innovative solutions that enable simplification and automation across the breadth of the property transaction. tmgroup’s customers extend to conveyancing solicitors, mortgage lenders, and developers.    

Key services:    

tmconvey : Property searches are an integral part of tmconvey, along with insurance and risk management tools. With its simple, integrated design, it cuts the time and effort it takes to complete the conveyancing transaction.    

tmconnect : tmconnect is a cloud based transactional hub, providing a joined‐up workflow for  estate agents, mortgage lenders and conveyancers to access and share transactions securely.    

tmcore : tmcore is an online property data hub for local authorities and other search providers, linking conveyancers to local authorities for faster land data without incurring unnecessary fees or being bound by complicated systems.    

tmconvey Premium : tmconvey Premium is a specialist service for commercial real estate  lawyers. Benefits include Premium Terms & Conditions, up to £20 million PI cover per claim, and a managed portfolio service.    

Property Searches Scotland : Property Searches Scotland are part of the tmgroup family and  offer a full range of property searches for residential, commercial and remortgage conveyancing across all of Scotland's 32 council areas.    

The company has 140 employees and is headquartered in Swindon.

For more information, visit www.tmgroup.co.uk