Much conversation this week amongst buyers, sellers and agents as to the extended lockdown and what that means for the property market. There is no current change to agents ability to carry out valuations and viewings but we are seeing public concern increasing and the number of physical viewings taking place reducing.
For sellers, many agents are now carrying out virtual valuations, so if you are considering selling your property but not fully committed to listing yet, then this could be a good option. With so much information available to agents online, most will be able to give you a very good idea of sales price by conducting a virtual valuation.
As the hope of getting sales agreed now, completed by the end of March is pretty much gone, the price sensitivity that we have seen for months is emphasized further. Buyers are having to alter the price range they have been looking in and are therefore very price sensitive to comparable properties in their affordable range.
If you are looking to list your property now be realistic with your asking price in relation to similar properties. When interest is generated and offers received, ensure your purchaser is aware that they are not going to be able to make the stamp duty saving. Overly optimistic timescales that put solicitors and agents under unrealistic pressure are more than likely to cause your sale to fall through.
It’s not all doom and gloom. The buyers that are out there, physically viewing properties, are in the majority very motivated, proceedable buyers so if you are keen to sell your property, where safe to do so, try to accommodate viewings
We have analysed the performance of Movewise on the three things that matter. Frequency of sale achieved, time to sell and frequency of price drops.
Movewise outperforms all the leading traditional agents and the online agents on all KPIs.
Here is the full article.
It's simple, by choosing the right agent with data and not getting stuck with one when viewings slow down we create more demand for each property. This means your property is not left to the mercy of price reductions with a sole agent.
We also beat all the big names on all a comparable average sale price (because we use more than one of them).
Have a great weekend.
The Movewise Team