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..
Case study: probate
Selling probate property for a Silver Circle law firm
The instruction
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 challenge
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.
The solution
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.
The result
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
- Time saved: During the sales process, Movewise sales team handled 67 outgoing telephone calls and sent and received 259 emails – saving the solicitors more than 32 hours of work and releasing time to be spent on more valuable legal work.
- Expertise and local knowledge: Our data-driven insight into agents all over the UK, combined with our wealth of experience selling challenging properties, enabled us to resolve the task of selling flats with a short lease, quickly and efficiently.
- Faster sales: By generating a sense excitement around the viewings, we received competing bids ensuring we supported our client probate solicitors in their duty to realise maximum value from the estate.
Case study: Real Estate Investment Trust
Selling multiple rental properties across the UK
The instruction
To manage the sales of a portfolio of rental properties for a large property investment firm.
The challenge
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.
The solution
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.
The result
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
- Outsourced admin: By handing over the management of multiple sales with multiple agents across the country to our team of experts, this London-based firm was able to outsource a huge amount of administration; a single property sale can involve up to 200 emails and phone calls, taking up 10-20 hours.
- Single point of contact: Keeping track of multiple sales across multiple agents is a headache. Our client is able to deal with one Movewise account manager who provides progress updates, weekly summaries of viewings and expert advice on how to proceed.
- Faster sales: By accessing Movewise’s data-driven technology and the team’s years of experience selling property, this investment firm ensured the best estate agents in every area were instructed for each property. This meant a 50% higher chance of achieving a sale compared to a typical estate agent and that sales were likely to have come two months faster, and with half as much chance of having to offer a price reduction
Client testimonial
“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.”
To find out more about how Movewise can help your firm, book a meeting at a good time for you.
