For many developers, the strength of the housing market is critical to the success of their business planning since many of their customers will first need to sell their existing home before completing on their new purchase. This can be frustrating for both parties, particularly if there are fall-throughs or contract delays.
For this reason, many developers are now, increasingly, turning to Part Exchange to provide them with a greater control over the sales process. PX provides the developer’s customer with a guaranteed purchase which removes the uncertainties that a sale on the open market can sometimes bring meaning that they have a smoother and hassle free move. The good news for the developer is that the sales transacts much quicker, and without having to sacrifice their margins to do so.
According to Russell Baldwin, Managing Director of part exchange specialists Silverbridge Properties, “Developers are always looking for innovative ways to convert sales opportunities, and part exchange is currently ticking all the right boxes as it’s simple, quick and relatively stress-free – for both the developer and their customers”.
For more than a decade, Silverbridge Properties has been offering Part Exchange schemes to the retirement sector and works closely with many of the largest developers nationwide to help their customers move quickly and cost-effectively.
Audley Retirement, in partnership with Silverbridge Properties, is already reaping the benefits of PX and the company firmly believes that it will become an increasingly important sales tool to help create a seamless service for their customer and ultimately turnover their stock faster
The advantages are perfectly summed up by Kevin Shaw, Development Director at Audley Retirement, as he constantly reminds his sales teams that “Part Exchange means early completion, equals commissions sooner and, importantly, happier customers”.
“Since Silverbridge has come on board, we have seen an increasing number of our deals transacted using part exchange. This has not only help us speed up the pace of transactions but has also rescued deals that otherwise would have been lost”, added Kevin.
Audley has been building and managing award-winning luxury retirement villages for more than ten years, and one of the newest is the Binswood development in Royal Leamington Spa. The site has 90 apartments situated within the grounds of the Grade II listed Victorian Gothic Binswood Hall along with the ‘Audley Club’ which includes Whittle’s restaurant, as well as an elegant lounge bar, library, swimming pool and health and wellbeing centre.
The village has already seen incredible demand; the Penthouse apartment and all of the first phase is already sold as well as 60% of the second phase, which is currently being built. This means that prospective buyers find themselves in a race to secure the retirement property of their dreams.
Whilst part exchange is often seen as a solution to unlock stalled sales, many of Silverbridge’s customers prefer to use PX, rather than selling on the open market, because they want the certainty and a stress-free selling experience that it provides.
Silverbridge also take care of all the legal paperwork and associated fees plus there are no estate agency costs to pay either. Additionally, Silverbridge can also take the stress out of the move by allowing the customer to remain in their property for up to 2 weeks after completion.
These added features really strike a chord with Audley’s commercial team.
“We really appreciate Silverbridge’s flexibility, particularly by delaying our customers’ final completion dates. This is extremely useful for us as it means we can confidently sell properties that are not yet ready for occupancy, but with the assurance that there will be no fall throughs”, commented Kevin Shaw.
For more information about Silverbridge Properties’ Part Exchange schemes call us on 0203 780 0780
For information on the Audley Binswood development please contact: www.audleyretirement.co.uk 01926 339484
