There’s no doubt that Covid has presented the property industry with new challenges and we’ve all had to adapt to work through them.
No one really knows what 2021 will bring, but the good news is that Property Perspective is perfectly placed to offer its business as usual, ‘Covid-proofed’ service.
There are a few unique factors that place us in a strong position over our competitors.
In-house valuation team
Not being reliant on estate agents to carry out our valuations is a major plus point.
According to a report carried out by business consultancy TwentyCi*, some 713 estate agents have closed since the first Covid lockdown. Others may have reduced their staffing levels so be under pressure to keep on top of their daily business, which has a knock-on effect for home valuations and could cause delays.
Property Perspective employs its own team of in-house valuers who operate across the UK. It means we are able to turnaround valuations in the same guaranteed timeframe as we did pre-Covid. The fact we don’t rely on local estate agents to conduct our valuations streamlines the process and helps to keep the customer engaged.
There’s the added bonus for vendors that they will only have one visitor to their home, unlike some of our competitors who may send two or three different agents to value one property. Our valuers will adhere to the same set of Covid-secure protocols to ensure the vendors’ safety. And in the event we are unable to physically visit a property we have the processes in place to carry out accurate desktop valuations.
Bespoke marketing plans
Our marketing plans are geared to the individual and designed to sell homes quickly.
During lockdowns many homeowners have realised their current home is no longer suitable and the ‘second stepper’ market has thrived, helped by the Stamp Duty Holiday and availability of Help to Buy. But this could easily dip in 2021; the market may toughen and if the second hand sector slows then the numbers seeking out new homes may fall.
When we put a new home customer’s house on the market, our carefully considered and robust marketing plan is designed to step up a gear in tough conditions. By creating timed peaks in interest, we usually generate twice as many alerts compared to what a sole estate agent can offer.
Initially the home will be advertised on Rightmove and Zoopla, triggering alerts to anyone looking for a property of that type. If unsold after two weeks, we will instruct a local agent to market the property alongside us but we will retain control of the sale even if agreed through the agent. Instructing the agent will generate fresh alerts and create a further boost in interest.
After four weeks, we will look at a price reduction if the property remains unsold. Any reduction above 2% will trigger another alert to draw buyers in. We also introduce other measures, such as making the property a premium listing.
This carefully planned sequence of events is designed to keep the momentum going and get the home sold.
Forward sold? No problem
Many of our housebuilder clients are significantly forward sold with homes not being ready until summer 2021 and beyond. For some this may present new challenges in terms of encouraging customers to use agency assist schemes and sell their existing property when their new home may not be ready for a while.
It’s a situation that we are very familiar with and our account management team can help manage the process in a way that puts the vendor at ease.
Some may be willing to move into temporary rented accommodation or to stay with family until their new homes is ready. For those who wish to stay in their existing home until their new home is ready, we can manage expectations on all sides, alerting any interested buyers to the fact that the current owner will stay in the house and only proceed with viewings with customers who are happy with this wait time. Regular communication will keep everyone updated.
Evidence of success
In October, our average time between offer and exchange of contracts was just 59 days and we saw a 107% increase in completions compared to the same month last year. This in itself shows we have met the current challenges and signals that we are ready for whatever new challenges come our way. We’ve shown that we can adapt to keep our services to the same high standard they have always been.
If you’re already a Property Perspective housebuilder client, you will continue to have our full support through whatever challenges the next few months bring. And those new to our services can look forward to some exceptional and extensive support.
Property Perspective are Part Exchange and Agency Assist experts, offering seven days a week service, speedy valuations and expert advice, all backed by relevant housebuilder and property industry experience. See www.thepropertyperspective.co.uk or call 0845 6800 262 for more information.