blank article banner
Residential

Converting activity into sales

Q1 2012

All the ingredients for a successful year for the residential property market are there, and proved by the statistics.

All the ingredients for a successful year for the residential property market are there, and proved by the statistics.

As we leave January behind and look forward to a short month before spring officially arrives, National Estate agency Strutt & Parker note that their results for the final quarter of 2011 show figures up from the previous year with increased levels of new instructions (14% up, year-on-year), viewing levels (showing a 25% increase) and properties going under offer (21 per cent up). This paints a more positive outlook for the start to this New Year than is generally assumed. But to achieve successful sales going forward, buyers and sellers cannot rest on their laurels.

Nervousness and indecision are still in the air. To liken it to the current rugby Six Nations, people in different matches are often flagging, giving up and finding it just 'too difficult.' This can easily lead to increased levels of deals falling through. However, with the right agent this can be avoided. Agents are in effect the coaches - creating tactics, shouting encouragement and running alongside the side lines with their team, all in an effort to help them score that try! Now more than ever, having the best professional agent on board to keep on top of the process and help push through the deal is essential.

All the ingredients for a successful year are there and proved by the statistics. There are willing and keen buyers and sellers, but it is converting them into actual deals that is proving challenging. The beginning of the year is always a tentative time as people wait to see which way the market will go and often 'wait it out' until the spring. Michael Fiddes, Head of Agency at Strutt & Parker explains that "In this climate you need to take decisive action and you need an agent going that extra mile who you can put your entire trust into. That extra push is essential." Tenacity and patience are needed. Deals are often taking longer to go through than normal and there can often be hiccups along the way which is when the agent should guide you through smoothly and clearly.

Any innovative selling tools are also hugely useful in helping to convert a deal. Strutt & Parker are holding another National Open House Day on 17th March which is one such example of creative agency where buyers are able to visit any number of houses in one day, making it an easier and more pleasant experience. Results from previous years have shown this to have great success in encouraging buyers to offer on houses and also in bringing new volumes of properties to the market.

Fiddes concludes that "People must not be scared off by the market. Deals are there to be done and picking a good agent will help to ensure that sellers are taken over the conversion line and sales completed." Figures prove that there is nothing concrete to prevent the next quarter being successful so long as both buyers and sellers are willing to come out fighting in winning pro-active spirit.