Did you know?
One in four sellers have changed estate agents
40% of buyers appointed the conveyancer recommended by the estate agent
85% of movers say Brexit has not impacted their decision to move
We asked vendors if they had changed agents during the selling process and 24% said yes they had. One in four instructions are being lost to a competitor – a leaky bucket that can be fixed! When we drilled down to the reasons why, 56% said it was due to poor service – not because the property hadn’t sold.
What this means is that 24% of your stock can be potentially saved by improving the level of service you offer your clients, so take the time to review your systems and processes to see how you can retain more stock.
Estate agents have great relationships with the home mover, resulting in 40% of them choosing the conveyancer that the agent recommended. Having a great relationship with third parties is a great way to increase revenue. Working with a preferred conveyancer that you know, like and trust will reflect well on you and this is important having made the recommendation in the first place.
One of the questions we asked was, “has the decision for the UK to leave the EU impacted your decision to move?”.
85% of respondents said no, it did not impact their decision to move.
Excellent news! The vast majority have not been impacted by the EU decision, and just 7% believe house prices have decreased as a result of this decision.
How many instructions have been lost to this excuse? It is something we are hearing a lot about in the industry and media, but is this really what the customer is thinking? Or are there other underlying reasons why they did not instruct you?
As Peter Rollings suggested on stage in our panel debate at EA LIVE on the 2nd December, reading and analysing the data and facts within your business is imperative to making the best possible decisions.
To see a summary of the key findings from the 2016 Home Moving Trends Survey, click here