Simplifying property transactions can help housebuilders to answer Boris Johnson’s call to “Build, build, build”, according to a property entrepreneur.
Yourkeys CEO Riccardo Iannucci-Dawson quit his role as a new homes sales director in a quest to solve a problem that plagues the industry – complex transactions leading to high cancellation rates.
Iannucci-Dawson (pictured) co-founded Yourkeys in 2017 and set about building a software platform to help streamline communications.
“In the UK, 39% of all home sales fall through – of these cancelled sales, 15% fail due to slow progress, changed minds or poor communication,” he said.
“It’s fine for the government to encourage building, to remove stamp duty, for lower mortgage rates to come forward, but if we can’t transact, it’s a waste of time.”
With Yourkeys, buyers can see when their mortgage offer has been processed, when surveys on the property are returned and the status of local search results. Sales can also be managed remotely using a new feature released during lockdown.
Yourkeys links directly with mortgage providers and conveyancers, and can connect seamlessly to customer-care systems.
After launching at the beginning of the year, Yourkeys is now working with 46 new homes developers in a bid to speed up transactions, make sales progression more transparent and cut fall-through rates.
Iannucci-Dawson added: “From a time and money perspective, automation can transform a sales operation. Our clients go from knowing a significant amount of time is taken to progress sales to knowing it is now on autopilot.
“There can be an initial apprehension but when we convince people to take a look, they invariably want to give it a try.”
Yourkeys’ clients include Vistry Group, London Square, Hill Group and Shanly Homes.
Dario Scimeca, project sales manager for London Square, said: “Our staff have said it’s easy to use, as it’s very intuitive. The ability for our customers to see everything in one place now provides greater transparency, which instils enormous confidence.”