High prices are sti­fling hous­ing mar­ket

Northants Evening Telegraph - Property - - FRONT PAGE - By Yates Walker

OVER half the prop­er­ties on the UK prop­erty mar­ket are strug­gling to sell be­cause of in­flated prices, ac­cord­ing to lead­ing prop­erty spe­cial­ists Move with Us.

Yates Walker, of Ge­orge Street Corby, is a mem­ber agent of Move with Us. Its re­cent study con­cludes that: Ven­dors need to be more in­no­va­tive Es­tate agents can be in­cen­tivised on per­for­mance

It is im­por­tant to reg­u­larly re­view the sales strat­egy.

Re­cent fig­ures have high­lighted that, on av­er­age, it takes ap­prox­i­mately 78 days to achieve a sale.

How­ever, hun­dreds of thou­sands of on-mar­ket prop­er­ties are stuck with min­i­mal in­ter­est or ac­tiv­ity past this three-month av­er­age.

Move with Us be­lieves that ven­dors need to be more in­no­va­tive in the way in which they in­cen­tivise es­tate agents and ad­ver­tise their prop­er­ties.

There are op­tions avail­able to home sell­ers to help mo­ti­vate their agent cor­rectly.

Tra­di­tion­ally, multi-agency agree­ments have been favoured, as they mean ex­po­sure to a wider group of buy­ers.

Sell­ers could also look to in­tro­duce in­cen­tives to buy­ers, such as pay­ing for the stamp duty or other associated fees, which has proved suc­cess­ful in cor­po­rate prop­erty sales.

There is also the op­por­tu­nity to in­cen­tivise the es­tate agent, so that the fee they re­ceive is based on the per­cent­age of the ask­ing price achieved.

Robin King, a Move with Us di­rec­tor, said: “In­ac­cu­rately-val­ued prop­erty is one of the most prob­lem­atic is­sues in the cur­rent mar­ket.

“These ex­ag­ger­ated prices lead to stag­na­tion and price re­duc­tions be­come the most com­mon out­come to try and stir up some in­ter­est.

“More of­ten than not, agents value the prop­erty at an in­flated price to win the busi­ness and then have to back­track on price fur­ther down the line, cre­at­ing frus­tra­tion and dis­ap­point­ment for sell­ers.

“Our ex­pe­ri­ence in sell­ing prop­erty has shown that us­ing the best agents in the area on a multi-agency ba­sis to value the prop­erty ac­cu­rately, from the start, means that the prop­erty is sold in re­al­is­tic time frames and sell­ers’ ex­pec­ta­tions are up­held.”

Move with Us is one of the UK’s lead­ing res­i­den­tial prop­erty ex­perts, pro­vid­ing a broad range of sim­ple and ef­fec­tive ser­vices to help con­sumers buy, sell and value their homes. Its aim is to do prop­erty, prop­erly. It pro­vides free, im­par­tial ad­vice and tools to home-buy­ers and sell­ers in the UK through its web­site and con­sumer helpline.

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