The award-winning team at SO Resi has launched an innovative new shared ownership sales agency for external parties, be it other housing associations, local authority housing providers, investment funds or private developers. In the spirit of sharing best practice, the team wants to share their approach to ensure greater access to affordable homes, especially for those looking to buy a home in the current economic climate.
SO Resi Agency will offer partners an extensive database of would-be buyers looking for shared ownership homes. Coupled with this, owing to its strong market presence SO Resi has on average 50,000-60,000 visitors to their website every month. The service the team can provide is twofold; from finding buyers to taking customers through to legal completion, utilising their internal processes to help get sales across the line.
The agency service will allow users to advertise their property on the SO Resi Agency website and access the teams’ expertise including marketing and sales support.
Diana Alam, Head of Sales at Metropolitan Thames Valley Housing, commented: “With lending becoming more challenging at entry level, and an economic backdrop that presents challenges to homebuyers, more and more people are looking to shared ownership as a way to get into the market, or upsize without the risk of taking on a burdensome mortgage.
“We have been inundated with people interested in shared ownership, which is why we are excited to be launching a new sales agency dedicated to shared ownership housing. We are looking forward to sharing best practice, but more importantly providing buyers with access to more affordable homes and promoting the many benefits offered by shared ownership.”
Over the last six months, Metropolitan Thames Valley Housing has been working closely with ReSI Housing, a for-profit Registered Provider managed by Gresham House, a for-profit fund, and together the partnership has brought forward 138 new homes to the Shared Ownership Market. It hopes to replicate this with other funds, housing associations and local authority providers to share best practice and more choice.
Diana added: “We have already established a number of partnerships through SO Resi Agency, with high levels of reservations recorded for recently launched properties on behalf of our partners. Partnerships are vital in accelerating the delivery of affordable homes across the country, and we hope to continue to work with those in the industry to provide aspirational buyers with the opportunity to own their own home.”
Earlier in February we ran a news article on SO Resi joining forces with Cambridge University to release the first annual report into the status of shared ownership in England. You can read more about the report here.