Make the change – sellers who switch agents more likely to make sale
New research shows that property sellers have a 34% higher chance of finding a buyer after changing agent.
Sellers who switch agent after failing to find a buyer instead of reducing the price, are more likely to make a sale.
New research shows that property vendors who haven’t been able to sell after two months are better off trying a different agent.
The sellers who do change agent are 34% more likely to achieve a sale, instruction generation firm Spectre has found.
The data also shows sellers who switch estate agent achieve over 12% more on their sale, than those who just reduced the asking price.
Heather Staff, co-founder of Spectre, says: “This is highly valuable information for agents, when looking to persuade sellers to switch over to them, and highlights the importance of quality property marketing.
“These first few weeks of the year are prime time for agents to win over sellers from their competitors, who failed to secure a sale in 2022.”
Turbulence
As the property market settles following the turbulence of 2022, the data supports agents offering high-quality marketing and good service, over those that would suggest a price reduction, Spectre says.
House prices in the UK fell by 1.5% in December – the fourth consecutive drop but pulling back from November’s 2.3% decline which was the biggest monthly fall since 2008, latest figures from the Halifax revealed last week.
The annual rate of growth dropped to +2.0% (from +4.6%) leaving the typical UK property now costing £281,272 (down from £285,425 last month).
Spectre says its tools transform the time-consuming job of prospecting into one that can be done in minutes. For more information, visit spectre.uk.com
Thank-you for the feedback. It is a bit unfair on this company to say that though, especially as we often report on research carried out by estate agents as well and they probably have a vested interest don’t they? The story reports on the findings of a survey carried out by Spectre and not just on what Spectre says.
You suggest it is no surprise that sellers switch agents and achieve a sale because they lowered the price, but the story reports that those sellers received 12% more on their sale.
A very one-sided piece which quite frankly is being delivered by a company whose interests lie in telling the public to switch agents as that is how they drive their revenue. You may as well generate a story from Hovis telling you how switching from white to brown bread is more likely to aid digestion!!!
The simple fact is the originating agent will sell the property if they manage it well. More often than not when a property moves from one agent to another, the price changes and hey presto! it sells. Not that surprising at all really.