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27Aug

It’s official – what we’ve suspected all along – “traditional” estate agents get sellers more money in their pocket than the internet-only alternative. They also secure more viewings and offers! According to research by The Advisory, internet-only agents rely too heavily on property portals to find buyers.

The research suggests that while Rightmove, for example, may directly generate 52% of viewings, this results in only 36% of offers, whereas High Street estate agents generate 48% more viewings, 64% more offers and, in 73% of cases, a 5% higher sale price.

On a £250,000 sale, this higher sale price translates to a loss of £12,500 if a passive intermediary (online-only) firm has been used, versus a local estate agent, as Internet-generated viewings do not engage any of the proactive interactions required to prompt a sale.

 

This could be the reason why professional property traders tend to use regular estate agents over internet-only agents. While internet-only agents appear to be cheaper, estate agency fees are not as important as the “walkaway figure” - the amount received from a sale after the cost of selling has been deducted. Those who use an internet agent could be “stepping over the pounds to pick up the pennies”. No wonder the market share of internet agents is no longer growing and stands at just 7.2% (Source LeadHub) with 57% of sellers who used a hybrid/online agent saying they would not do so again (source: Zoopla)

Remember, internet-only agency fees are usually payable up-front, so these “virtual agents” have no incentive to perform whatsoever. At Williams & Goodwin The Property People Ltd, we only charge on successful completion – our revenues and our reputation depend on it!

You wouldn’t try to sell a Bentley on e-Bay, so why do so with an even more expensive asset? So if you’re thinking of selling, you know who to call. As your friendly, local, REAL estate agent, we’d love to hear from you. Williams & Goodwin 01248 751000

 

Copyright © Williams & Goodwin The Property People Ltd

23Aug

CLick on the link to our latest Property newspaper - also available in local super markets:

https://issuu.com/propertyprintservices/docs/williamsandgoodwinedition92019?fr=sMWQxNTUyMzQ

20Aug

It would not be unreasonable to assume that the job of an estate agent is roughly the same irrespective of the type of property. However, the skilled agent should have a comprehensive understanding of the delicacies involved in the sale of a more up-market home.

Discriminating clients expect a higher level of quality and professionalism. They have probably sold several times in the past and do not wish to be treated as amateurs, but as discerning and informed individuals who are probably fully au fait with current market conditions.

A rare property will attract a select handful of prospective purchasers. It must not be cheapened or over-exposed in any way. Indeed, many upmarket buyers prefer to buy properties which are offered to them as a privilege, prior to the home becoming commonly available. Good agents will therefore provide such buyers with a highly individual service which advises buyers “off the record” when the right property becomes available, and will arrange a preview.  

The circumstances of sale can be delicate, with finance also being a sensitive issue. Prestige buyers can take offence if questioned too intensely about their mortgage details. Earnings and loan-to-value ratios become less important in qualifying a buyer, but knowing with whom they bank or which solicitor they use can be just as important. Useful Information can also be gained when your agent is able to strike up a good relationship with your buyer’s selling estate agent if they have one.

An agent experienced in the sale and purchase of fine property should easily be able identify the preferences of those who could be described as “old money” as opposed to “new money”, and are able to work out the balance between prestige and practicality.

Therefore, when selling a finer property, don’t entrust your sale to just any agent, but one who understands a different sort of sale. Why not call us for a discreet chat on 01248751000

©Copyright 2019 Williams & Goodwin The Property People Ltd

13Aug

Most buyers use the internet in their search for a home, so you need to be sure that your property is found and promoted quickly and easily. It is therefore important that your agent subscribes to the most effective property portals because this is how buyers are directed to your property.     

Many property portals have come and gone over recent years and whilst a few specialist portals remain the overall market in North Wales is with two portals, On The Market and Rightmove. Each has so much coverage that many buyers don’t always feel they need to use both, especially as they become familiar with the workings of one or the other.  We are seeing the increase in popularity with On The Market and of course our own site tppuk where you’ll see our properties first.

When selling your property, it is therefore really important to choose an agent whose own web site is popular (eg tppuk.com) and also subscribes to On The Market &  Right move. This means that your property is much more likely to be found online. We also find that due to our excellent portal exposure, our own website ranks highly in a Google search.

This is not about stealth marketing – it’s about timely exposure with a marketing plan that is effective! Our role is to maximise your exposure and harness response, leading to a faster sale where competition between buyers pushes your price to the max. So you need to be seen – everywhere!

When selling your home, it is critical that you get it right, first time, so we’ve never held back when it comes to embracing the efficiencies of effective online technology. With Williams & Goodwin The Property People Ltd you can feel secure in the knowledge that your property will be exposed to the very highest number of suitable buyers available; as more buyers means a faster sale at a higher price. That’s what we do!      

 

Copyright © Williams & Goodwin The Property People Ltd

09Aug

Here we are, mid-summer holidays, and the market is generally regarded as subdued and we should be in hot sunshine!

However, whilst the rain may fall, you can still make hay.  Due to the continued lower levels of stock available, we are still securing some excellent prices locally. Certainly, volumes are down but ask any buyer or seller and they are less concerned about “the market” and more interested in their own situation. This usually revolves around a single property, so volumes are irrelevant!

We are acutely aware of the personal requirements and emotions behind every sale, so we handle each property as if it were the only one on our books. The summer holidays are almost an annoying inconvenience to buyers who are keen to find a property and get on with their lives.

The good news for today’s serious sellers is that some less-serious sellers made the mistake of withdrawing their property for the summer holidays a month or more ago. Activity among serious buyers remains stable, but they have a smaller selection of stock from which to choose. This supports the likelihood of a sale, and a higher price, for those sellers who remained committed. Contrary to popular opinion, the summer is actually a great time to sell! It’s no coincidence that the busiest day of the year for removal companies is the last Friday in August!

We are also finding that property investors are starting to re-emerge. Certainly, tax reforms, tighter lending criteria and regulatory changes did hit confidence levels, denting supply, earlier this year. Indeed, according to a survey of 827 landlords by BVA BDRC, the number of PRS properties is estimated to have grown by an almost negligible rise of 0.2%, compared to over 3% in 2015!

However, stable prices and rising yields of around 4.5% mean that there are opportunities for investors. Average UK monthly rents have hit a new record high of £896, with rental growth at about 1.3%pa. This looks set to increase further as wages rise ahead of inflation giving tenants more price flexibility.

Considering the daily media-driven scaremongering, the property market is actually holding its own and proving once again how resilient bricks and mortar are as an investment and, of course, a home!

© Copyright 2019 Wiliams & Goodwin The Porperty People.

Who We Are

Williams & Goodwin The Property People are members of the Guild of Property Professionals, National Association of Estate Agents, Association of Residential Lettings Agents, National Association of Valuers and Auctioneers and are Chartered Valuation Surveyors we are members of a National Network of approximately 800 independently owned and operated Estate Agents.

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