For clients with multiple properties to sell, such as probate solicitors or professional landlords, Movewise offers a pioneering approach which simplifies the process for the vendor. Compared to a typical estate agent, Movewise is proven to offer a 50% higher sale rate, an average sale time that is two months faster, and 50% less likelihood of a price reduction.
Movewise achieves this by leveraging technology to identify the most appropriate estate agent anywhere in the UK for a particular property, and taking a multiple-agent approach, if required, at a single fixed fee. For probate specialists, Movewise is also able to offer support with any property valuations required before probate can be granted.
Each sale, or valuation, is handled by a single Movewise account manager from start to finish, greatly reducing the amount of emails, phone calls and administration for the seller.
Here are two recent case studies which illustrate the benefits of our approach..
In late June 2020, Movewise was instructed to market two three-bedroom flats in north London, which formed part of a single probate estate.
The flats had short leases – less than half of the original 99 years – which limited their sales value, as lenders are reluctant to offer a mortgage on properties with such a short lease.
Identifying the most appropriate estate agent to sell these properties was critical and we used our data-driven approach to find the firms who sell the highest numbers of similar properties. In this case we were looking for local London estate agents with experience of marketing flats on a short lease to cash buyers.
In July, Movewise instructed an estate agent and, within 10 days, received competing offers from two buyers, both of whom were bidding for both flats. The sale was completed in early November, just over four months after the initial approach from the solicitor, for a total of £500,000.
The benefits of using Movewise
To manage the sales of a portfolio of rental properties for a large property investment firm.
These properties are located all over the UK in cities including Manchester, Birmingham and Leeds, and in most cases, were tenanted. The firm has very little in-house resource to manage the detailed sales.
In preparation for sale, the Movewise team researching all the required information about each property from individual management companies in order. These investigation unearthed some issues around fire regulations leading us to advise our client not to list some properties at this time.
For the remaining properties we have used our data-driven research technology to identify the best agent for each property – which has meant using different agents in the same location, depending on the price bracket.
As many of the properties are tenanted, the target buyers will be investors rather, so we undertook additional research to pinpoint the most appropriate estate agents with large numbers of investors on their books.
Several properties have been sold and more are under offer. All negotiations have been managed by the Movewise team to ensure the best price is achieved and that any potential hold-ups are addressed quickly. The client has been impressed by our ‘can-do’ attitude and problem-solving expertise.
The benefits of using Movewise
“With Movewise we are getting a premium service and we don’t have to dedicate time to it. It’s such an obvious and sensible solution. We’re spinning enough plates on acquisitions and management already without trying to do what Movewise does ourselves.”
Adam Knox, Head of Property Operations
To find out more about how Movewise can help your firm, book a meeting at a good time for you.