Property logbooks ‘will go mainstream if software suppliers back them’
Claim is made by industry figure as Kate Faulkner’s House Buying and Selling Group sets up working group to look into logbook implementation.
Digital property logbooks will only take off once the powerful property software houses offer them as part of their platforms, it has been claimed, as Kate Faulkner’s Home Buying & Selling Group (HBSG) announces that it is to set up a working group to look into their implementation.
Nigel Walley, MD of logbook firm Chimni and a member of the HBSG, says although discussions are under way within the group, in reality until agents can easily access each home’s logbook via their property software suites, it is going to be difficult to see their use become widespread.
For example, Walley says his firm is working to develop a version for the Reapit Foundations platform, but that DezRez has yet to see the value of the idea.
Logbooks would help standardise the property information used by conveyancers and speed up property sales for agents.
“A home owner could wander into an estate agency branch with all their property information already filled in rather than having to start from scratch every time,” says Walley (left).
“Also, National Trading Standards are trying to normalise the way that properties are described within portals in order to stop them being over ambitiously over-described, something a property logbook could help solve.”
Logbooks would also help stop mortgage and home sale fraud and simplify and speed up sales progression.
“The HBSG is also looking at how we can regulate property logbooks as the government isn’t keen to get involved,” says Walley.