Reservation agreements will be offered to home movers through a partnership between a digital reservations services provider and a residential property consultancy.
The “strategic partnership” between Gazeal and Landmark will see reservation agreements integrated into the Optimus panel management offering for home movers. The tie up has been described as a way for buyers and sellers to demonstrate their commitment to the transaction, providing “much needed trust and certainty in the process.”
Despite calls for property market stimulation, the Chancellor rejected calls to change stamp duty thresholds in the Autumn statement this week. Changing mortgage and interest rates, as well as challenging economic conditions, has seen a 30%+ fall in transaction volumes against 2022 with around 300,000 property sales collapsing each year, resulting in wasted fees costing home movers around £3,700.
Gazumping and gazundering also remains a big issue for home movers. A survey of 1000 sellers who have sold in the last 6 months by House Buyer Bureau has found that while cases of gazundering have fallen across the property market since the start of the year, one in five sellers receive a lower offer from their purchaser after having had a higher offer accepted. Whilst this is down from a similar survey earlier in the year (31%), 3/4 of respondents said they had little option but to accept the lower offer, otherwise the sale would fall through.
Commenting on the partnership Bryan Mansell, CEO of Gazeal said
“It is great to collaborate with Landmark, an organisation that prioritises the customer’s needs. Through this partnership, we can provide our clients with greater levels of certainty which are currently lacking in the market. Together, we strive to deliver exceptional customer experiences and ensure stress-free and secure home moving journeys.”
Giuliano Grazioli, Sales Director at Optimus expressed optimism for positive change.
“In an industry where trust and clarity are paramount, this partnership between Gazeal and Landmark, two forward thinking organisations, marks a significant step towards revolutionising the property market. Our commitment to providing speed, certainty, and security for home movers will undoubtedly reshape the way property transactions are conducted in the UK.”
Earlier this year Landmark announced the launch of LandmarkConnect, a series of “open, accessible, and standardised hubs” designed to allow the currently disconnected parts of the home-moving industry to connect to each other and pass data and documents between connected parties.
