Luxury London Real Estate

Vendors

We believe our offering to sellers is the best there is. Not only do we have many years experience of selling homes in your area but we also have cutting edge technology and marketing programs to help you get the best possible price in a time scale that fits with your needs.

  • Independently run local business
  • Inclusion in our high quality in house magazines and e-zines
  • Latest technology working to sell your home
  • Ongoing updates from our friendly staff
  • Local & National advertising & PR
  • Aerial photograph, street location and driving directions
  • Immediate inclusion on the BSE Mayfair website
  • High quality brochures
  • Backing of a member agent of the Property Ombudsman Service
  • Have your home appear on some of the country's biggest property websites including Zoopla
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Advertising

We believe this to be very important when you are trying to achieve the best possible price for your property. Once you have selected your own asking price our advertising is set up to be comprehensive. We aim to show your property to as many buyers as possible, as regularly as possible. By doing this we can ensure that every buyer currently looking to purchase will know about your property.

Internet Advertising

As a London resident you are no doubt aware that professional buyers and buyers in general, now have internet access and will use this as a primary method to search for a property. We want to ensure that these buyers have instant access to your property on demand over a range of different websites. If buyers are using their computers/mobile devises then we will almost certainly receive their details as a house buyer. Our websites include:

www.bse.london
Our website has been design to reflect the London market and offer an action packed portal which will make buyers want to revisit regularly.

www.zoopla.com / www.primelocation.com / www.findaproperty.com / www.lonres.com
Advertising here ensures a good volume of buyers which will in turn be referred to your property for viewing.

All of our websites allow for instant phone contact, viewing requests and email the Estate Agent facilities.

Service

Strong advertising is all well and good but you need an Estate Agent with good customer service and sales skills to ensure viewings and buyers are not lost.

We are committed to ensuring our vendors are fully up to date, regularly, with progress and our buyers receive property details on a consistent basis. Listed are some of the ways we can ensure a good relationship with both our vendors and buyers.

Emails, SMS Messaging and Mail Outs

When a buyer registers their details with us they now have a range of choices as to how they can receive property details. Emails and SMS Text messaging allow instant updates immediately when your property becomes available. Sending out details will also take place to anyone who prefers the post. This process is continued on a weekly basis to ensure maximum exposure for your property.

Marketing updates for our vendors

Vendors should be spoken to about their property's success regularly. A vendor should not be at home pondering if their agent is doing a good job. We will contact you by phone to give you a full update on progress at least by-weekly and as regularly as you need. Understanding the property market is the most important part of the selling process so we need to be available to help.

Viewing Feedback

You will receive a phone call with the response from your buyers the day after a viewing has taken place. This ensures that you know how buyers view your property in keys areas such as locations, condition and price but above all how you fair against your competition.

Offers

Once an offer has been received a full description of your buyers' position will be given to you to help you make the right choices.

Sales Chasing

Our job doesn't finish when a sale has been agreed. We will update you on all key stages of your sale all the way up to completion.

Money Laundering Policy

BSE Mayfair Limited Policy Statement

BSE Mayfair Limited is committed to ensuring that it has adequate controls to counter money laundering activities and terrorist financing activities, in line with the Money Laundering Regulations 2007.

Risk sensitive policies and procedures must be established in order to anticipate and prevent money laundering and terrorist financing.

A risk sensitive or risk-based approach is where businesses assess the risk of customers laundering money through their business. Businesses may take the starting point that most customers will not launder money but will identify criteria that would indicate a higher risk of money laundering – e.g. where there is no face-to-face meeting to establish identity.

BSE Mayfair Limited is committed to staff training in anti-money laundering legislation and this is also covered as a part of the Induction training courses held in our office.

BSE Mayfair Limited has a Money Laundering Reporting Officer whose responsibility is to receive internal reports and to refer them the Group Money Laundering Reporting Officer as appropriate. The group MLRO is based at the Office, who will forward reports to National Crime Agency as necessary.

Adherence to the “Due Diligence” identification procedures on every occasion will mitigate the risks of the business being used to launder money or fund terrorism.

All vendors and purchasers must be identified fully with two forms of ID, evidence of identity being photographic and also evidence of residence e.g. a utility bill dated in the last three months. Other sources of customer information include the electoral register and information held by credit reference agencies such as Equifax.

Should a face to face meeting not take place then enhanced due diligence procedures will need to be adopted by asking for additional information or evidence to establish the customer's identity, and ensuring that the documents supplied are certified. It would also be prudent to ensure that the first payment is made to a bank account in the customer's name.

If the verification of the customer's identity is done by documents this should be based on:

A government issued document with the customer's full name and photo with either the customer's date of birth or residential address such as:

  1. Valid passport
  2. Valid photocard driving licence
  3. National identity card
  4. Firearms certificate

A government issued document (without a photo) which includes the customer's full name and supported by secondary evidence:

  1. Old style driving licence
  2. Recent evidence of entitlement to state or local authority-funded benefit such as housing benefit, council tax benefit, pension, tax credits

Supported by secondary evidence such as

  1. A utility bill
  2. Bank or building society statement
  3. Most recent mortgage statement from a recognised lender

For customers other than private individuals

For customers who are not private individuals, such as corporate customers and private companies, the business must obtain information that is relevant e.g. company registration number, registered address and evidence that the individuals have the authority to act for the company – a search at Companies House will reveal details of directors and company secretary.

Enhanced due diligence (PEP's)

In some situations you must carry out 'enhanced due diligence'. These situations are:

  • when the customer isn't physically present when you carry out identification checks
  • when you enter into a business relationship with a 'politically exposed person' - typically, a politically exposed person is an overseas member of parliament, a head of state or government or a government minister (note that a UK politician isn't a politically exposed person)
  • any other situation where there's a higher risk of money laundering

The enhanced due diligence measures for customers who aren't physically present and other higher risk situations are broadly the same and include:

  • obtaining further information to establish the customer's identity
  • applying extra measures to check documents supplied by a credit or financial institution
  • making sure that the first payment is made from an account that was opened with a credit institution in the customer's name
  • finding out where funds have come from and what the purpose of the transaction is (higher risk situations only)

The enhanced due diligence measures when you deal with a politically exposed person are:

  • making sure that only senior management gives approval for a new business relationship
  • taking adequate measures to establish where the person's wealth and the funds involved in the business relationship come from
  • carrying out stricter ongoing monitoring of the business relationship

Suspicious Activity Reporting

A report should be made if a member of staff/ the nominated officer thinks that there is a possibility, which is more than fanciful, that a person is or has been engaged in money laundering or terrorist financing.

The report should be made to the Office Money Laundering Reporting Officer who, should they be satisfied that there are grounds to suspect money laundering or terrorism, must forward a report to the Group MLRO, at the Office as soon as is practicable.

What is Suspicious Activity?

This list is by no means exhaustive.

New Customers:

  • Reluctance to provide details of their identity
  • Customer is trying to use intermediaries to hide their identity or involvement
  • There appears to be no genuine reason for the customer using the business's services

Regular/Existing Customers:

  • Money is paid by a third party who does not appear to be connected with the customer
  • The customer requests payment to a third party who has no apparent connection with the customer
  • A cash transaction is unusually large and the customer will not disclose the source of funds.
  • A transaction is carried out for less than market value with an unconnected person

Should a report be made then it is important that this fact, and any information about the transaction in question, is kept confidential.

Record Keeping

The following records are required to be kept for 5 years:

  • Copies of, or references to, the evidence obtained of a customer's identity for five years after the end of the customer relationship, or five years from the date when the transaction was completed.
  • Supporting records relating to a customer relationship or occasional transaction for five years from the date when the transaction was completed.

The purpose for keeping these records is to demonstrate the business's compliance with the regulations and to aid any resulting investigations.

This information has been taken from and condensed from the OFT Money Laundering Regulations 2007 and HMRC Anti-Money Laundering Core guidance issued under Crown Copyright 2007.

Please contact our office for further information.

BSE Mayfair is a member of The Property Ombudsman Scheme for Residential Sales Agents and will comply with the Scheme's Code of Conduct (full details can be found at www.tpos.co.uk).