August was a great month for sales at Coast & Country. But for every experienced estate agent, there is something a bit special about September. Every year when the children return to school and the holiday season ends, we get excited. We look forward to a flood of new instructions, high levels of sales and a rush, as Christmas approaches, to ensure completions take place. Autumn is often the best season to buy or sell.
Just like every year on the 1st September, we expect 20 instructions and 10 sales. This of course never happens. The holidays aren’t actually even over. We begin to worry and wonder. Will all the additional advertising and promotions we have planned for our clients’ homes, be a waste of time? Each year, we try to recall what exactly occurred in the twenty previous years, when we found ourselves in the self-same situation.
This year we are doing more than ever, with a view to capitalising on our position as one of the top performing offices in the area. We are doing more advertising than any other estate agency office we are aware of, as we aim to promote our clients properties beyond those of other agents. We are using extensive Internet marketing and our largest ever team is working harder and longer for our clients. This means getting results is all the more important.
During the first half of September the phone slowly began to ring more often. We received positive feedback about our increased advertising and the valuations started to roll in. Once we had the opportunity of demonstrating to potential vendors what we do that the others don’t, these valuations turned into a selection of great new instructions. Good instructions, as all property professionals know, lead to sales. So in the second half of the month as autumn officially started so did the run of sales. We think it’s likely to be a record month for us, and that’s only the beginning of the best selling part of the year. Just like most previous years September was slow off the mark and is finishing with a flourish.
Looking ahead to next year, we must remember that September has a slow start. Of course by then we will probably have forgotten again. We will be caught up in the excitement and expectation every successful sales person feels, when they know they will be cutting deals, making sales and outperforming their peers.
Saturday, 2 October 2010
Friday, 3 September 2010
National Statistics V Local Experience
These figures are based on nationally collated figures and do not take into account factors which experienced estate agents are aware of and consider in their marketing. The property market locally has remained buoyant throughout the summer and although the number of viewings has dropped slightly in July and August the quality of buyers has been high and levels of business good. This has resulted in above average sales. Why have viewings been down? School Holidays and summer vacations, just like every other year.
By taking this experience into account and applying a basic market principal of supply and demand, one can easily explain what is a minor fluctuation in the market nationally. This has little relevance in the southwest, a desirable area where people aspire to live. On a national scale slightly fewer buyers have been available for a short period, as stock of property for sale has increased. This process is has tipped the balance slightly in favour of buyers, who have on average saved around £3000. Sounds a lot, but when factor in sales where prices are in the millions and price fluctuations my have been very large, the effect on everyday properties in minimised. You are probably talking a few hundred pounds on an average home in most cases this is insignificant.
Other reports have suggested that the mortgage is “tight” and overall the amount lent out buy lenders is only increasing slowly. Here again if you dig a little deeper there is positive news. Many people in a position to do so are reducing their mortgages. This is because investment returns are considerably lower than mortgage rates and it makes sense to do so. However the total amount on loan is still rising, this means a far amount of lending must be going on. Less positive is the time it’s is taking to obtain loans currently and the strict criteria. Difficulties can often be minimised by taking good advice from independent professionals.
Looking further forward into September, where will the market be? We expect levels of viewings to peak through September and October and levels of sales to be high, with numerous pre Christmas completions. We are gearing up for the surge with more advertising and are actively seeking further instructions. Year to date we have been the top selling agent in TQ12 according to Vizzihomes and have sold stc, over 22% more properties than any other office. We expect this margin to increase during the latter part of the year as we simply do more advertising and promotion our clients homes compared with our competitors.
Thursday, 29 July 2010
Summer At Coast & Country
Summer is a time sizzling hot property and focussing on the best buyer.
As summer gets under way, schools break up and families depart on annual holidays, many agents assume that the market will be quieter. Although this may traditionally have been the case, having the right attitude really gets results.
Those looking for property during the hotter months tend to be more serious. At Coast and Country these buyers are identified and maximum effort is directed to matching them with the right new homes. Those looking to sell can attract buyers by tapping into these quality buyers. The partners at Coast and Country believe that many agents rest on their laurel during July and August leading to poor results. In order to maintain their position and the top selling office in TQ12 for all of 2010, according to independent market researchers Vizzihomes, Coast and Country do the opposite, and this is delivering excellent results. Coast and Country are maintaining high levels of instructions on and a large register of quality properties, this combined with their extensive newspaper advertising and Internet marketing ensures that the maximum number of real buyers are in touch with them.
The partners in the firm believe that if things are potentially a little quieter a flight to quality occurs. Vendors instruct agents that do more and these instructions attract the highest quality buyers. The result is an increased differential between market leaders and those follow.
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