Certainty and Transparency – the key to transforming the transaction process?

A year ago, ViewMyChain hosted a roundtable with key thought leaders and industry heavyweights from across the property world.  

The topic for discussion was how to reduce time to complete, and the key findings for how to speed up the process, reduce the risk of fall throughs and make it less stressful and time consuming for everyone involved were: 

• Greater transparency and effective communication
• More certainty throughout the process 
• Embracing technology, including chain view 
• Upfront information 

On 12th September the Digital Property Market Steering Group (DPMSG), hosted its first Digital Property Market Conference in London, where delegates and speakers from across the industry collaborated and discussed ways to ensure the property buying process becomes more streamlined and transparent for all involved. 

ViewMyChain were delighted to present how full visibility of the whole chain and digital data sharing with industry partners to provide automatic updates on progress can allow those using ViewMyChain to have better management of the transaction progression process, enabling them to: 

• Be alerted to delays or issues within the chain – to proactively resolve them and manage concerns or expectations – helping to reduce delays and minimise fall throughs.
• Automatically receive the latest updates to key milestones in the whole chain – reducing the time spent chasing for updates and ensuring that communication with stakeholders within the chain is effective and meaningful.
• Have full oversight of every property and milestone in the chain – giving greater transparency of the process and enabling them to nurture transactions through to completion. 

During the sessions and workshops throughout the day, participants from all stages of the property buying process, including conveyancers and solicitors, mortgage brokers, surveyors, search providers and estate agents, as well as leading industry bodies discussed and presented their ideas, and some familiar themes came through as the solution to the problem: 

• Greater transparency through data sharing and interoperability
• Improving certainty for everyone involved
• Upfront information and digital identity 

The discussions have provided plenty of food for thought for the property industry, and cross-industry collaboration is certainly at the core of the solution. 

One thing which was clear during presentations on the day is that many of the solutions are already available to us, the question is, what are the next steps to enable us to embrace them? 

Discover how full chain transparency can help your business 

Find out more here, or book a Discovery Call with one of our friendly team and we'll show you how ViewMyChain works and tell you about the benefits which we can deliver, bespoke to your business.  

These include time and cost savings, faster transaction times and fewer fall throughs – to name a few. Book a slot with us to find out more: https://info.viewmychain.com/en-gb/book-a-discovery-call