We hear it from agents over and over again (and over and over; and we could go on) - one of their most common complaints is a lack of responsiveness from developers. They are not wrong.
In fairness, like many SME developers, we get sent hundreds of sub-standard deals across our desk every year, but for all the agents amongst this readership, let me know if this sounds at all familiar: Agent sends a deal to developer, developer expresses interest, maybe even submits an indicative offer or assures that they will bid. The agent relays this to the vendor but then the developer goes silent. The agent chases and chases, but to no avail, and invariably loses credibility with the vendor, which puts at risk a relationship that they have nurtured for months or even years.
Will the agent refer the next hot deal they have to the developer?…of course not. Everyone loses.
Agents essentially want a developer who values their time, respects their input, and delivers on deadlines. Our company has put this very much to the forefront, as we know without appreciating these, we’re dead in the water on long term relationships and standing out.
It is, often though, easier said than done, and with hundreds of (mostly) unsuitable or poorly valued deals to sieve through, we only achieve our commitment by leveraging systems and various tech-enabled efficient processes. Let's elaborate on the why and how a little further.
Why do we do it: It's about our core mission.
As a people-focused developer, City Sanctuary’s mission is clear. To be a force for good by creating living spaces that enhance the well-being of our occupants (people) and their communities (also people). But that comes at the end of an ever longer development journey. To get there, we also work with many other people across the development value chain.
From landowners to agents, from consultants to contractors, from planning authorities to community stakeholders. “Property is a people business” we hear time and time again, and yet, in the increasingly difficult battle for another “P” – profit - it feels that the people part all too often gets demoted.
Our commitment to being a force for good led us to recently achieving B Corp accreditation. This third-party verification process is increasingly viewed as the 'gold standard' accreditation for social and environmental performance, transparency, and accountability. This highlights our dedication to more than just profit and signals to our stakeholders, including estate agents, of our commitment to transparency and ethical practices in every aspect of our business. So it's ingrained in us.
And how do we do it…?
Efficient filtering of opportunities
At City Sanctuary Developments, platforms like LandInsight are integral to our workflow, significantly enhancing our land acquisition processes. It is a powerful tool that provides detailed data and insight, from planning policy and planning consent precedent to local build costs and sales comps at a click of a button, allowing us to assess potential land purchases with confidence and speed.
The comprehensive LandFund add-on module allows us to then create professional looking appraisals and cash flows with consistency at a fraction of the time we would collating excel spreadsheets, build costs, sensitivity analysis capabilities support our commitment to making informed, sustainable decisions that align with our B Corp values.
Transparent communication and accountability
Alongside land sourcing platforms, we use CRM software, HubSpot, and project management software, Trello, in order to maintain a transparent and accountable communication flow with all our partners. This combination of software, all integrated using Zapier ensures that queries, meetings, and actions are meticulously recorded and easily accessible, enhancing our responsiveness and maintaining trust with estate agents who rely on timely updates and clear information.
Aligning technology for transparent transactions
Our use of sourcing platforms like LandInsight, CRM systems like HubSpot, project management tools like Trello, as well as and our commitment to B Corp principles are more than just operational details - they are central to our identity at City Sanctuary Developments. These tools and values drive our daily operations, enabling us to gain the trust of our estate agent partners, who in turn, gain the trust of their vendors .
We are still surprised by how many agents thank us for the common courtesy of merely responding when we say we will. By aligning cutting-edge technology with robust ethical standards, we aim to not only foster trust and efficiency but also pave the way for a fresher, more transparent take on real estate transactions.