Communication is the key

The Jackson-Stops Cotswolds team discuss the importance of communication in these uncertain times.

There is no doubt that we live in uncertain times, both politically and socially. The housing market is like any other market; it relies on confidence and certainty, both of which are lacking at the moment. But that is not to say that the market is flat or unresponsive. Uncertain markets still contain opportunities for property to be bought and sold, it simply means that the approach is different. There is an argument to say that in a good market, property will sell itself providing it comes to the market at a realistic price and is not severely compromised in any way. In a more challenged market, finding the tipping point between a realistic and an ambitious price is more difficult and this is where the role of an agent really comes to the fore. Agents should be talking to sellers constantly, advising them about what is happening in the market, how many people are looking at their property on the portals and what their behaviour is when the house comes up in search results. Does the property need better imagery? Is it better to price the house lower then let competing bids move it up rather than take the traditional approach of negotiating down?

Going against tradition

The same is true with potential buyers; a more traditional approach will be for an agent to send out a blanket mailing with a new property and then to rely on the recipient to contact the agent. The role of the agent is to communicate, to cajole and persuade buyers who normally may have rejected a house from the details but could be open to persuasion if a good open communicative relationship exists between them and the agent. This has happened at our office in Cirencester recently where we listed a house for sale that had been with two other agents previously. We put it under offer within four weeks to a buyer who had been registered with one of the other agents but no-one had spoken to him about it. An opportunity lost for buyer, agent and client. We have a saying in the Jackson-Stops offices that all conversations need to start somewhere and that relies on good regular and clear communication. There is a housing market out there if you look for it, it is just not in the usual place.