Mon 19 Feb 2018 View all news articles
Our research indicates that the first two weeks on market are the most critical for achieving a sale.
This may come as little surprise when considering these properties are fresh to the online portals and should be attractive to active buyers. If you have instructed an agent who has priced the property well, taken appealing photographs and pro-actively used their contact database then offers shouldn't be too far away.
Once the initial two week launch period cools off, 83% of properties sold have yet to find their buyer. Was the asking price set too high? Did the agent simply wait for Rightmove leads to come in?
The graph below shows that as more weeks pass, fewer properties find their buyer. The majority of properties will rely on hard work and regular attention from their agent in order to agree a sale, but many end up being left on the market for months before a sale is agreed. In fact, one in every ten Wirral properties don't find their buyer within a year!
How many weeks to find a buyer?
Chart shows the percentage of Wirral transactions in 201 7 by the number of weeks it took to find their buyer (Source: Land Registry & Rightmove)
If you're currently on the market, or thinking of selling in the near future, you may be wondering how to make sure your property finds a buyer within the shortest time possible.
Last year, 27% of Wirral properties required a reduction before their buyer came forward. This may suggest that over one in four properties were over-priced by their agent and deterred active buyers from viewing early on. Just because one agent values your property higher than another, it doesn't mean you will end up achieving more.
Does your agent have a strong local presence? Agents who have been around the community for a long time are likely to have a strong database of contacts looking for a property just like yours.
We actually found that 69% of our buyers in 201 7 registered with us directly rather than via Rightmove. The combination of an extensive contact network and pro-active staff means that viewing activity should continue once the initial launch period has ended.
If you are thinking of selling your property, to arrange a free market valuation, simply click here.
As leading Wirral estate agents and lettings agents we have plenty to talk about and like to give our opinions on a few things too! Read about what we have to say, our latest news and industry news.