The main way that we use the Residex property report is as part of a client review package that we prepare for our clients. This is sent out around the anniversary of the first loan that settled through us and is then followed through with a phone call 1 - 2 weeks later to touch base. The package is an impressive bound document that includes a Residex report for each property that they have financed through us, information on the loans that they have in place and other information and can end up being up to 25 - 30 pages long.
Clients love to see what their properties are worth and also love being able to see what has happened with comparable sales around them and it’s a simple gesture that makes our clients feel appreciated and shows that we are looking after their best interest. It also gives us the opportunity to talk to our clients about using their equity as a deposit for an investment property.
We also offer the reports from time to time if it is considered appropriate when we first meet a prospective client because it can be the point of difference if they are also talking to another broker.
With existing clients, we will sometimes run a report if they are thinking about buying a property and are concerned about the price that they are paying.
Our clients have provided positive overall feedback and we believe that, providing you use the new features of the software to check that the characteristics of the property that it is a fantastic tool.