Last week saw the typical ‘back to routine’ blur, hindered by the bleak weather and excess-induced lethargy, so slightly belatedly (and finally rejuvenated) I'd like to wish you a happy new year!
A heartfelt thank you to everyone I had the pleasure of working with during 2022, it was quite a journey and your support and encouragement meant a great deal to me.
Here we are in a shiny new year with a fresh slate and a whole 12 months to fulfil a year’s worth of dreams and goals. So the question now is, what does 2023 hold for us in the property sector?
I can report from the front-line that the pace we’ve experienced over the last couple of years has clearly cooled, and we are experiencing what I would describe as a more ‘normal’ market. As with any time of change this means a period of adjustment but it’s reassuring to see buyers now actively beginning to search again, viewing levels are up and potential sellers are gearing up to come to market.
It's likely we will continue to see an increase in available stock and a reduction in buyers which should involve less multiple/sealed bid situations, which I suspect will be relief to all involved. This is likely to also mean that in most cases, committed buyers who are yet to secure a buyer for their own homes will now be able to search for their next home, and as agents we will revert to the age-old skill that is properly qualifying buyers, forging strong relationships and building solid chains.
There is an art to effective and successful estate agency that has been in part lost as a result of digital marketing and the frenzied boom of recent years. What we are likely to see in 2023 is a more pronounced difference between estate agency firms and the standard of service they offer. While leads coming from portals are a fairly level playing field, it’s how you respond to the lead that determines the success of viewings and sales. The quality of ‘lead management’ will define the good estate agent from the order taker. An experienced agent with good listening skills, asking the right questions will be matching enquiries to properties, often those yet to come to market, or perhaps those which a buyer may have previously misunderstood, discounted or passed by.
Despite media headlines and the predicted fall in house-prices it’s important to remember that moving house is a lifestyle decision, not a financial one alone and while this remains true, there will always be buyers and sellers. Yes, those seeking properties for investment alone may wisely step back for a while and observe, but for the rest of us the cogs continue to turn. The market has certainly become more price sensitive than in recent years and it's more important than ever to price accurately and to follow the advice of your agent regarding the best strategy to achieve footfall and results.
Choosing an agent who understands your needs and motivation, and those of your future buyer is paramount, alongside local knowledge and a robust market knowledge. If you are contemplating a move this year, an experienced, forward-thinking agent who has worked through boom and bust, and one that you trust and can relate to, will be an invaluable asset in the months ahead.
If you’d like to discuss your property needs or have any questions regarding our client-focused property marketing service please don’t hesitate to get in touch: 01453 860980 becky@sageresidential.co.uk