What are the trends for the future of the property market?
After the property market boom of the past two years, helped by the ‘Lockdown Effect’ and the Stamp Duty Holiday, to stay on top of your game, estate agents should be already looking to the future for potential changes to the market towards the end and the start of next year.
The Return to Work
The past two years have been about home offices and more internal and external space, however, with the UK returning to some sense of normal, it is time for a lot of people to head back to their offices. Will this in return lead to a commuter lead jump in searches for properties in and around train stations and commuter villages? Rightmove recently reported that 8 out of 10 of the top 10 train stations have seen an increase in interest from home-hunters all within an hour’s train commute from a major city.
Selling before buying
For decades, experienced estate agents have been telling people they need to be sold, or at least on the market, before viewing or making an offer on a property. And now, with the number of buyers massively outstripping sellers, the facts are as clear as day to convince vendors that this is definitely the case. So, use them. Use all your offices stats and figures to convince potential vendors how fast properties are going, and that if they don’t want to miss out, they need to already be on the market, with you…
With a limited number of houses on the market, now is the time to get your negotiators fully trained on chain building and its benefits. After all, why sell one property when you can sell two? Make your negs understand that selling to a first-time buyer is easy - anyone can answer a Rightmove enquiry – but the key to becoming a truly great negotiator is in the art of chain building.
When a new property is coming to the market… Stop… Wait… Before sending it out to everyone on your database, search for people with homes to sell, whether they are on the market or not, and get on the phone targeting them. With a touch of luck, and if they want the property, you will be able to take theirs on too… Again, anyone can sell to a first-time buyer, but to become a great estate agent, you need to build chains…