Agents are being urged to revisit properties that came off the market last year.
Speaking to Angels Media’s Lee Dahill on the latest episode of Property Podcast Today, Heather Staff, co-founder of Street Group and Spectre, revealed there is growing trend of sellers returning to the market.
Referring to Spectre prospecting statistics, Staff said: “The two most powerful triggers this year that have lead to instructions are three and six months after withdrawal.
“People got fed up with the market last year, took it off and are now coming back.
“Don’t forget about withdrawals last year.”
Staff added that time on the market is now 7% higher annually, while reductions remain at an all time high, meaning agents need to work on “expectation management” with vendors.
She also revealed Spectre figures that suggest it is better for agents to approach potential vendors six weeks after a reduction rather than just after a property is reduced.
The interview also addressed communication issues in estate agency, with Staff warning that agents who don’t make use of apps or technology to make it easier to book viewings and communicate online or through mobile could be left behind.
Watch the full video interview below:
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