I love property shows. 

Whether as an exhibitor or as a visitor they enable you to network , meet like minded people and utilise your time to the best effect.  Having a captive audience, keen to talk about their requirements, is what every agent hopes for.

Looking towards this years Property Investor Show and OPP Live, we are once again excited to be exhibiting as a company.  For Overseas Mortgage Broker, OPP Live last year was a major turning point for our business.  We met a large number of people who we otherwise would have struggled to meet under other circumstances and formed some business relationships that have allowed us to move our business forward.  Its these relationships that will hopefully help us grow our business and hopefully increase the sales of our business partners.

It also made us realise how many developers and agents don’t have a finance option for their developments.  Prior to the show we were worried we would have anyone to talk to.  Setting off for Excel, I was weighed down by the two exhibition stands, 5000 leaflets and various other items I struggled to negotiate the underground with and made my way into Excel.  The leaflets (which were the heaviest item) were in case we needed to attract people to our stand.  They say hindsight is an exact science and as it turned out our worries were quickly dispersed as from 10am on day one until 5pm on the last day, we had a steady stream of agents, developers and members of the public to talk to about financing their properties.  

This year we expect it to be no different as we expect the same if not more people wanting to talk about finance as more people look to hold onto more of their money rather than making a cash purchase. 

So why is it that agents and developers often seem to overlook this essential part of the sales process?  In these austere times surely it can’t be because clients are purchasing cash.  We often come across agents selling properties in countries where finance is not available or difficult to arrange for foreign nationals.  So therefore a £300,000 property that has to be purchased cash is likely to remain unsold for a very long time.

Its more likely to be that the finance options available are something the agent or developer doesn’t understand or leaves the client to sort out themselves.  By letting the client find the finance themselves you are letting them raise a potential sales objection, “my bank won’t lend me the money”.  By not understanding what is available to them you may be losing a potential sale.  

Therefore we would strongly recommend that you review your current property sales portfolio and discuss it with an overseas mortgage expert who is also regulated to give UK mortgage advice.  You can then get to know what finance options are available for your clients either by organising an overseas mortgage or by releasing equity from their main residence.  This will mean you will have a idea of whether a client has the ability to proceed before referring him across to a finance specialist. 

Having mortgages available on your development or properties you sell means the client doesn’t have to tie all their money up.  It can also give an additional seal of approval as the banks will do their own due diligence before parting with their cash.  This can give you a competitive edge as well as knowing that your buyer is serious about moving forward.

If you can tell a client that even despite the new era of austerity by the banks that based upon their current circumstances they can be qualified for a mortgage then that will help you advance your sale and overcome a common sales objection.

I have often seen builders and developers in the UK build properties that because of the type of property ie new build flats, the lenders have then ceased to lend on.  By finding out what the lenders requirements are, what loan to values are and what interest rates are charged you can maybe identify why some properties are moving quicker than others and why some are not moving at all.

Whether you build or sell properties we’d like to invite you to visit us on stand 74 to come and discuss the finance options available on the properties you are currently marketing.  Lets sit down and talk about your developments and see how we can cover the all the finance angles available.

We will be able to give you ideas on how to advance your sales by knowing what finance options are available in the countries you promote.  Hopefully after discussing the options it might give you some new ideas on how to promote your properties using the finance angle as a selling point as opposed to a sales objection. 

More importantly we hope to welcome you as a new business partner that we can work closely with in the future.  Have a great show and see you there!