Three years ago solicitors in the greater Glasgow area had an estimated 5% share of residential property sales.
Today the picture is very different.
By joining forces under the marketing umbrella of the Glasgow Solicitors Property Centre (GSPC) Glasgow solicitors have won work back from estate agents.
Market share has soared to around 26%, substantiating the marketing slogan 'Solicitors sell houses'.
Estate agents are a relatively new phenomenon in Scotland as until 25 or 30 years ago Scottish solicitors were responsible for all house sales.
The GSPC has not only improved its share of the property market, it has given solicitors in member firms the opportunity to discuss clients' needs and to win additional business through financial and mortgage service referrals.Solicitors in Glasgow are now selling houses at the rate of 60 or 70 per week.
In their first full year from January to December 1994, the GSPC sold 2504 homes.
Last year this figure increased to 2819, with a total value of almost £150 million; this year house sales are anticipated to top 3300 -- an increase of over 31% on the first year's figures.This is a dream come true for the dozen or so Glasgow solicitors led by James Armstrong (deputy chairman of the group) who were the motivating forces behind the GSPC.
The dramatic growth and success of the GSPC is primarily due to the trust, co-operation and commitment of participating member firms -- originally 123, now 170.The GSPC follows the successful formula of a cit y centre showroom and a weekly newspaper that is already established in other Scottish cities, most notably by the Edinburgh Solicitors Property Centre.
Glasgow, however, has proved a far tougher nut to crack.
In cities such as Aberdeen, Dundee, Perth and Edinburgh, legal firms have traditionally been regarded as the bastion of the property market.
Glasgow, however, has been dominated by estate agents -- most of which are now owned by major financial institutions -- for the past 25 years.Individually, legal firms had no hope of combating the dominance of estate agents.
But, by collectively banding together under the distinctive blue and green GSPC corporate property marketing banner, and by providing a service with no hidden costs, they are now beating estate agents at their own game.Properties are also displayed in the GSPC's flagship city centre office -- currently being refurbished to accommodate the vastly increased stock of properties -- which displays all listed properties and is additional to the window displays which are utilised by member firms if their premises are suitable.
GSPC's marketing manager, Mark Hordern, says: 'We believe that because solicitors are able to maximise efficiency through negotiating the sale and conveyancing under one roof, they are better placed to pass on reduced estate agency fees and lower the overall selling costs to clients.' Sellers have been quick to realise that they do not need to pay an estate agent and a solicitor when the latter can handle the sale and the conveyancing.
Sellers are increasingly scrutinising the bottom line, particularly in relation to advertising charges where a newspaper property display advertisement through an estate agent can also include an additional profit margin for the agent.
According to Mr Hordern, the great majority of GSPC properties are sold -- which in Scotland means when an offer is accepted -- in between eight and 16 weeks.
Chairman of the GSPC Michael Samuel says: 'Clients have realised that this is a viable alternative to estate agents.
They like dealing with solicitors, they like the fact that the entire service can take part under one roof, they know it is cost effective, and they are pleased with the standards of service.'GSPC FACTS-- 170 member firms-- corporate GSPC branding on for sale boards, promotional literature, property schedules and letter-heads-- over 1700 homes worth over £90 million sold in the last six months-- up-front fixed costs: £150 one-off registration fee includes continuous advertising in the Weekly List property newsletter until sold (or for one year), entry into the homeline property matching service, and display in the GSPC's city centre office which currently displays and has schedules for 2700 properties-- 31,600 copies of the Weekly List published every week.
It is free of chargeThe following free services are available:-- expert advice on property matters is available free from a duty solicitor at the Glasgow Property Centre between 12 noon and 2pm every weekday, and between 5pm and 7pm on Thursdays and 11am and 3pm on Saturdays;-- for clients who do not have a solicitor, the GSPC's referral service will provide details of their nearest GSPC member;-- prospective buyers can detail their desired home and the homeline matching service will automatically ensure that they receive details of all the relevant properties listed through the GSPC;-- buyers who see a suitable property in the Weekly List can simply call the GSPC's Dial-A-Schedule service and details of the property will be sent by first-class post.
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