Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Property»Property chain in Essex first to sign ‘historic’ reservation agreement
    Property

    Property chain in Essex first to sign ‘historic’ reservation agreement

    March 13, 20254 Mins Read


    Property platform Gazeal has achieved its first reservation agreement to feature an entire chain of buyers and sellers, following a deal set up via one its customer estate agents in Essex.

    While the company’s reservation agreements are used by many agents’ vendors and buyers including Hunters, until now agreements have been between pairs of vendors and buyers only.

    But for the first time ever a whole chain has signed up to one of its Chain Reservation Agreements, namely a first-time buyer and two upsizers, all buying or selling houses sourced via one of Gazeal’s key partners, Essex and Kent firm Balgores.

    Matthew Butler, sales director, Balgores

    The firm’s sales director, Matthew Butler, says: “We are incredibly proud to be the first estate agency to implement Gazeal’s Chain Reservation Agreement.

    “At Balgores, we always seek ways to provide our clients with the best possible service, and this agreement is a game-changer. It ensures our buyers and sellers have peace of mind, knowing their transactions are protected from unnecessary fall-throughs.”

    Launched six years ago, Gazeal offers vendors and buyers the opportunity to voluntarily lock into a reservation agreement that sees one or more participants compensated if one of the players withdraws without a ‘good reason’, which excludes both gazundering and gazumping.

    Gazeal has impressive credentials, winning Gold at The Negotiator Awards 2024, in the Supplier of the Year – Professional Support category, topping a shortlist of 21 companies.

    Chain agreements

    “Being able to secure a chain under a single Gazeal Agreement represents the final piece of our jigsaw”, Bryan Mansell, CEO of Gazeal (main image) tells The Neg. “I am particularly pleased that this has been done with Balgores”

    “Working with the Balgores teams across all of their offices is amazing. They have been fully supportive of our mission and have been reserving the majority of their sales with Gazeal.

    “As a result, they have successfully lowered their fall-through rates. This is the first time, through collaboration, that we have been able to introduce a Chain Reservation Agreement – proving that we are not just talking about solutions, we are delivering them. Together, Gazeal and Balgores are making history.”

    Mansell points out that there are also major benefits for home movers who sign up to its ‘chain’ agreements, namely that the costs are lower because the firm doesn’t charge extra for multiple parties and therefore the cost is paid between them. Also, if anyone backs out of the deal, the compensation is paid to the remaining members equally.

    “But we don’t automatically payout if someone withdraws and if a replacement buyer or vendor is found then they too can be added to the agreement – or a fresh agreement struck – but obviously if the withdrawal leads to the chain collapsing – or it can’t be reformed – and the withdrawal is not for a ‘good reason’ specified within the reservation agreement, then we pay out,” he adds.

    Historic

    Mansell says the ‘historic’ deal he has just struck in Essex was organised within 24 hours of all three parties in the chain agreeing that they were keen to ‘lock it down’.

    Gazeal has come close to a ‘chain’ agreement five or six times before but often one person would decide not to go ahead at the last minute.

    “But we’re gaining traction on this front and our second chain agreement is, hopefully, about to go through in a few days,” he adds.

    Mansell adds that he’s got another big agency trialling his reservation agreement too with a view to introducing them across their branch network.

    “Our experience is that once an agent uses Gazeal however tentatively, once the first few deals go through via a reservation agreement, they don’t look back,” he adds.

    “Our agreements help agents get instructions because their staff can promise to protect a vendor’s sale from falling through and therefore protects their pipelines and revenue,” he adds.

    “But we are primarily a protection that vendors and buyers see as a good idea particularly in a volatile market because, if there’s one thing they all fear, it’s the chain falling apart – and estate agents are the way we distribute that solution to them.”

    If whole-chain agreements do become commonplace then it could become the ‘silver bullet’ that Ministers in Government, and most recently Labour, have been seeking to stop the estimated 300,000 fall-throughs that imperil the housing market every year.

    Image credit: Google Streetview




    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    UK family home for sale for £1 and it’s not far from the city centre or beautiful beaches

    Property

    Primaris Real Estate Investment Trust : National Bank conserve son opinion neutre

    Property

    Climate change and property – solicitors’ questions answered

    Property

    Heiwa Real Estate REIT émet de nouvelles parts par attribution à un tiers pour financer des acquisitions d’actifs

    Property

    Sime Darby Property et SD Guthrie signent un accord de coentreprise pour développer jusqu’à 2 000 acres à Carey Island

    Property

    Les actionnaires liés à Murakami portent leur participation conjointe dans Heiwa Real Estate Co à 10,39 %

    Property
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    All 50 US States Ranked by Agricultural Production [Report 2025]

    First Community And Two Other US Dividend Stocks To Consider

    Investments

    Actis buys solar firm Stride Climate Investments – Industry News

    Editors Picks

    Wirex Secures Registration as a Digital Currency Exchange Provider in Australia

    March 6, 2025

    Investment planning: Switch out of equity funds for short-term goal, review investments at least once in a year

    October 14, 2024

    Decline of the US dollar as dominant global currency is inevitable: economists

    March 24, 2025

    Blockchain drives tokenized property ownership — Here’s how

    March 17, 2025
    What's Hot

    à la place du gazole, du XTL produit à partir de déchets en plastique

    March 15, 2025

    2 Ultra-High-Yield Real Estate Stocks to Buy Hand Over Fist and 1 to Avoid

    August 24, 2024

    Sygnus Real Estate Finance Limited publie ses résultats pour le deuxième trimestre et le semestre clos le 28 février 2025

    April 14, 2025
    Our Picks

    Real Estate Investing Trends and Predictions for 2025

    October 26, 2024

    Top 5 PSU Dividend yield stocks. Worth a buy? – Market News

    April 10, 2025

    Gold rate today: Yellow metal up on rising demand, US Fed rate cut hopes. Should you buy gold after recent price drop?

    July 29, 2024
    Weekly Top

    Silver prices surge in 2025: Up nearly 25% year-to-date

    June 21, 2025

    France arrests five over cryptocurrency kidnapping

    June 21, 2025

    La première place pour les électriques à l’EcoGreen Energy 2025

    June 21, 2025
    Editor's Pick

    How Scammers Are Seizing Million-Dollar Properties — Is Your Real Estate Safe?

    October 20, 2024

    Where You Can Spend Crypto in Westchester 

    August 23, 2024

    Le Real Madrid a entamé les démarches avec cet entraîneur, et ce n’est pas Xabi Alonso

    April 29, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.