Sales Progression to Completion

Sales Progression to Completion

Once an offer is accepted, the job changes from marketing to keeping the transaction moving and making blockers visible.

Set up the transaction correctly

Check:

• accepted purchaser and price;
• vendor solicitor;
• purchaser solicitor;
• related sale/chain information;
• mortgage/funding position;
• AML/identity requirements;
• agreed target dates where known.

If key information is missing, create tasks to obtain it rather than leaving the progression page incomplete indefinitely.

Use progression markers

Standout progression markers are intended to show where the transaction has reached. Your agency may configure the exact marker set.

Typical milestones can include:

• memorandum of sale issued;
• solicitors instructed;
• draft contract issued/received;
• searches requested/received;
• mortgage valuation/offer;
• enquiries raised/replied to;
• chain ready;
• exchange;
• completion.

Update the marker when the milestone actually happens. Do not mark stages optimistically to make the transaction look further advanced.

Work from the blocker

When chasing a sale, identify the next missing item rather than simply asking every party for an update.

For example:

Searches are back, mortgage offer received, but replies to enquiries are outstanding. Chase vendor solicitor for replies and update buyer/vendor afterwards.

Create tasks for chases that are due later.

Keep customers informed

Use normal agency communication and My Move where available. My Move can show customers relevant progression information and reduce routine any news? calls, but staff still need to update the underlying progression data.

Chain information

Keep the chain current as sales are agreed, fall through or exchange. A chain is only useful if the links represent the real position.

Exchange

When exchange is confirmed:

• update the property to the correct exchanged stage;
• record relevant date/details;
• update tasks/progression;
• communicate according to agency process.

Completion

When completion is confirmed:

• update to Completed;
• finish outstanding progression tasks;
• record final invoice/payment information where applicable;
• ensure any follow-up/customer records are left in a sensible final state.

If the sale falls through

Record the fall-through promptly, restore the appropriate marketing status if the vendor is remarketing, and review previous viewers/interested parties.

Good progression discipline

Every open sale should have a clear answer to:

1. What is the current stage?
2. What is blocking the next stage?
3. Who is responsible for that item?
4. When are we chasing again?