April 2019: Avoiding the Feeble
Avoiding the Feeble
Oliver of Oliver Miles Estate Agents finds that there is not only life in the property market this Spring, but also some interesting opportunities.
Some of us remember the 1970’s and 80’s when the property market had few cash buyers, not many buy-to-let investors, and relatively few second and holiday home purchasers.
Once again, first time buyers with mortgages are making up the bulk of first rung purchases, whilst the higher, discretionary end of the market has been affected by Brexit concerns, increased taxes and a stagnated market, especially in London and parts of the South East.
As we emerge from what seems to be the bottom of this latest property cycle, and confidence is increased by the highest employment figures for fifty years, opportunities in a resurgent market can be discovered: perfect conditions for those who have saved hard for a deposit on their first home and an ideal time for those wishing to invest in property.
This is a market that experienced estate agents who have been ‘round the block’ a few times will work with to great effect. To get the most from market conditions like these agents need a special understanding of buyers and a keen local knowledge built up over many years of negotiating deals for their clients. The aim of the experienced estate agent is, with diligence, clarity and dialogue, to achieve the top price for your property and to drive the sale through to fit in with your plans for the future.
This is not a time for inexperienced order-takers whose only selling point seems to be to cut their fees to commercially harmful levels and although appealing to some sellers, cheap doesn't go very far. Oscar Wilde quipped about some knowing "the price of everything and the value of nothing" – the same often goes for some less experienced and committed estate agency firms.
If you are selling now, when availability of stock is low, it is important to choose your estate agent wisely. It is such an important choice. Inexperienced agents offering low fees might be too feeble for this market. Make sure you chose a strong firm with the people, experience and track record to achieve the best sale for you.