One of the positive aspects of how we have adapted to confinement is that some of the technology and trends that might have arrived in five years; have happened within five months.
In the world of buying and selling property, the adoption of electronic Compromis de Vente – the sales agreement – is one of them. For Leggett, 75 per cent of signed CDV are now electronic – or so-called e-CDV. So why so significant? The time saving aspect is transformative, as well as the fact that sales agreements can be made remotely, without the buyer or seller having to travel. The benefits of this are clear in the past year – and the reasons why so many property sales have continued throughout the pandemic. Instead of using postal services, all documents are sent by email and can be signed electronically and securely. This reduces the time between the signing of the compromis and the SRU notification (the mandatory cooling-off period for the purchaser in which time they have the right to withdraw). The process reduces the need for any contact between people and therefore allows the continuation of the purchase or the sale, even during a period of confinement. For sellers, the agreement with their agent to sell their property – the mandate – can also be digital.
Apart from this, there are virtual tours available for many properties, dollhouse tours (3D tours through each room) and also drone videos of certain properties to allow property hunters to see as much as possible. Also very popular, for the personalised aspect, are live virtual visits or ‘walk-throughs’ with agents through video conferencing software such as Skype, FaceTime or WhatsApp. It’s amazing what you can do from your sofa compared to a year ago!