Zoopla has created a new ‘Back to Market’ tag for listings which have fallen through in an attempt to boost sales.
The new tag will be added to a property where the status changed back from ‘under offer’ or ‘SSTC’ to ‘for sale’.
With approximately 40% of sales falling through, Zoopla says the new feature will capture the attention of consumers, and boost demand for these listings.
When an agent changes the status of a property on Zoopla.co.uk that has fallen through, it will now be pushed back up to the top of the search results page, and will be marked with a yellow ‘Back to Market’ label.
Zoopla is also working to educate buyers on ‘Back to Market’ properties, and shift the perception that properties are mainly relisted due to issues that have emerged during the survey process.
It also wants to highlight the other more innocuous reasons for a fall-through, such as a failed mortgage approval, a chain collapsing or a change in the buyer’s circumstances.
Zoopla has created content for buyers on ‘Five little-known facts to find your perfect home faster’, and is also promoting ‘Back to Market’ listings on its social media channels.
Back to the market properties often have serious sellers that are willing to progress with a sale”.
Nikki Cole, director of national sales at Zoopla, says: “We’re pleased to launch this much-requested feature for our agent’s customers, which should provide a simple way for them to boost interest for a property that has just come back to the market.
“Back to the market properties often have serious sellers that are willing to progress with a sale, and we’re looking forward to highlighting this to the thousands of in-market buyers that visit our website and social channels every month.”