Many estate agencies simply act as a broking service that matches people to property. However, we are acutely aware that there is far more to successful selling than this alone. Indeed, over 30% of property sales in this country fail to reach completion, falling through for various reasons.
One of the main reasons is that a buyer simply gets cold feet and withdraws as a result of “buyer remorse”. This is a familiar phenomenon to estate agents and occurs when a buyer feels overwhelmed by the apparent enormity of the decision to buy and takes the more comfortable “low-risk” option and does nothing.
Perhaps the buyer is offered another property, which they prefer, or something else comes on the market that makes the price they have offered on your home look expensive.
Your buyer may lose their job, or get a promotion. They might decide to get married or divorced; they might inherit or win a fortune, or their business may be experiencing difficulties. They could even die!
Whilst these types of issues are generally unavoidable and naturally have a profound effect on people’s decision to move, the main problem concerns timing. Because offers in this country are not binding until exchange of contracts, the longer the time between offer and exchange, the greater the opportunity there is for the buyer or seller to decide to withdraw.
We go to great lengths to help you move and seek to become very familiar with your circumstances and plans. Our agent will usually be the same person who negotiates for you and who will be thoroughly involved in any linked transactions. This is why we do not have a separate “sales progression” department. We find our clients appreciate the level of personal dedication and accountability provided by a single point of contact, which in turn leads to understanding, trust, and a speedy conclusion.
Posted on Tuesday, 31 July, 2018