How Property Professionals Can Be More Transparent

Following a turbulent year and a rather bleak immediate outlook for some businesses, Doncaster’s property market has shown significant fluctuations in sales and availability in recent years. While it would take time to delve deep into the implications and economic factors associated with it, one trait that stands out as a critical differentiator for property professionals is transparency.

This characteristic can make all the difference in facilitating smoother property purchases, sales and exchanges, along with situations like probate, all while addressing queries and concerns in a timely and productive manner. 

Here at Artemis - as an award-winning digital marketing agency working closely with businesses in the property sector - we understand the challenges afoot. We have also observed over the years that property management is about more than transactions, and that transparency is crucial for building trust, managing expectations, and creating mutually beneficial relationships. 

In an era dominated by speed and efficiency, with evolving customer expectations and market dynamics, how can property professionals expect to be as transparent as possible with so much uncertainty? This short guide looks to break that down, giving Doncaster property businesses more food for thought when trying to navigate difficult waters.

A look at Doncaster’s changing property market

Recent market analysis of Doncaster's property sector reveals a telling story. From January 2024, the number of home sales averaged 497 per month, accompanied by a substantial increase in available properties to 3,388 in August 2024. The increase can be attributed to homeowners taking advantage of higher-than-average property prices, the fact that properties failed to sell in previous months, and an increase in new-build properties entering the market.

Despite this, competition among property sellers is increasingly fierce. Buyer demand is strong but it has not increased at the same level that property availability has. In order to combat this, property professionals - estate agents, solicitors, surveyors, vendors, etc. - need to adopt more transparent approaches, communicating more openly.

Why transparency is vital in property transactions

Transparency in property management is imperative in this day and age. With competition so high and with buyer expectations drastically different than in years past, any property professional in Doncaster would stand a greater chance of standing out if they prioritised open dialogue, accountability, and trust.

It builds trust through open communication

Effective transparency begins with comprehensive, proactive communication. This involves avoiding beating around the bush and going beyond simply making each interaction purely transactional. 

Given buyers’ demands, property professionals must address pertinent concerns relating to any property on the market. Rather than being driven by timescales, budgets and deadlines, facilitating a transparent conversation concerning available properties will be a vital first step.

This involves providing detailed, regular updates about the property’s status, including competition for its purchase and encouraging buyers to act quickly to avoid being disappointed. Clear explanations of market conditions and honest assessments of property potential will be valued, rather than obstructive. 

Property professionals can also establish trust from the outset, particularly when properties for sale have issues that need addressing before completion. This can range from urgent structural repairs to planned preventative maintenance (PPM) of leasehold properties, of which surveyor insights can be a vital asset in bridging any gaps. Implementing as many processes and procedures in place ahead of time will give property experts the best possible chance of securing the coveted signatures they need to get properties sold. 

Allowing clients to understand exactly what condition their prospective property is in, and what maintenance or repair work is necessary, along with how it will be executed, will remove uncertainty and build confidence when negotiating offers and schedules.

Navigating market complexities

The property market in Doncaster - along with new relevant rules such as the SRA Transparency Rules - highlight the need for realistic, transparent pricing and communication. With home sales fluctuating and property demand increasing, professionals must not be dissuaded by the challenges ahead and instead nurture those who are trying to either buy or sell. 

Data-driven market insights will be valuable to professionals trying to negotiate with sellers or buyers, as well as other experts in a given property chain. Data and metrics can also help to set expectations from the off, with potential challenges proactively communicated well ahead of time. Professionals who can offer strategic advice based on current and future market dynamics will be best placed to help their clients achieve their targets.

Key strategies for enhanced transparency

It’s easy to say that transparency is a vital tool in any property professional’s repertoire, but what are the actionable strategies that they can deploy to cultivate a more transparent experience?

The first is to establish complete financial clarity, with detailed, easy-to-understand reports and data that avoid any ambiguity with a property transaction. Consistent updates and regular real-time communication between themselves and their clients will also be greatly appreciated, whether that’s through direct chats in-person or through instant messaging chats, email or third-party applications. Digital information sharing is a growing trend in property transactions, with many buyers and sellers seeking a tech-led solution to buy, exchange and sell, so agents should seriously consider utilising inclusive digital platforms to facilitate this. 

Understandably, legal compliance remains a necessity, so all communications must not breach such relevant regulations. However, even with these enforced, keeping clients informed about all potential situations which could influence their decisions or the wider market will be pivotal.

How transparency cultivates a competitive advantage

Property professionals in Doncaster no doubt face difficulties in the market today. However, those who embrace transparency aren’t just doing so for the benefit of their clients, but themselves. Those who adopt a more transparent demeanour can set themselves apart from their competition in the market. Where large percentages of sales can fall through if not managed effectively, it’s fair to say that clear communication is a vital success factor.

Transparency isn’t just an HR buzzword - it’s a strategic approach that can evolve property management from a routine, transactional service into a partnership that benefits all parties involved. In doing so, professionals can navigate market complexities with integrity, confidence, and reassurance that they are working for all parties’ best interests. 

With a tough time ahead in terms of rebuilding the economy, property management requires stable foundations, and the crucial pillars of success (building relationships founded on trust, clarity, and mutual understanding) all rely on transparent communication.