Selling a property can be a long and difficult process. There are numerous reasons a property might not be selling, from pricing, to curb appeal, to the current market conditions. Oftentimes, when a property isn’t selling, the first seemingly logical step would be to reduce the listing price. But good estate agents know that there is a secret of selling property to consider before reducing an asking price. In fact, new research shows that reducing the listing price doesn’t quite guarantee that a property will sell quickly. The reality is that if a property has been on the market for two months or more, it might be time to find a new estate agent.
Read on as Rickman Properties highlights the benefits of changing real estate agents and why it might be wise to do so.
What are the Benefits of Changing Real Estate Agents?
Finding an expert/professional estate agent can seem like a daunting task, especially when switching during the selling process, but it can also be beneficial in the long run. Switching to a new real estate agent can offer many advantages, such as access to different resources and expertise, better customer service, and improved negotiation skills. It can also help save time and ensure sellers get the best deal for their property. Research from instruction generation firm, Spectre, has found that the sellers who do decide to change agents are 34% more likely to achieve a sale.
Why You Should Consider Making a Switch
A new estate agent can shift the trajectory of a sale in a few ways:
- A fresh perspective from an experienced real estate agent can help sell a home for the seller’s particular needs without lowering a listing price. Having a new set of eyes on the inner workings of a sale can help identify holes in the strategy and determine ways to improve.
- They will be able to provide valuable insights that might not have seemed clear previously, potentially saving money in the long run.
- A new real estate agent will assess the current strategy and metrics around the sale. With this background information, they can offer a more personalised service than previous agents, ensuring that all of your needs are met during the process.
Spectre’s data set also shows that sellers who switch estate agents after two months on the market achieved over 12% more on their sale than expected. Heather Staff, co-founder of Spectre, stated: “This is highly valuable information for agents, when looking to persuade sellers to switch over to them, and highlights the importance of quality property marketing.”
“These first few weeks of the year are prime time for agents to win over sellers from their competitors, who failed to secure a sale in 2022.” She added.
Finding the Right Estate Agent
When selecting a new estate agent, there are qualities and services you should look for to maximise your chances of selling. From their knowledge of the local market and experience in selling similar properties, to their communication skills and marketing strategies, there are many factors that can contribute to a successful sale. High-quality marketing is incredibly important, especially as the market continues to shift. Using all available resources to market a property has been shown to have a higher ROI than reducing the price for a quick sale.
Related Article: Buying or selling a property? How to choose the right London estate agent for you.
Rickman Properties estate agents are dedicated professionals that endeavour to stay up to date with market research and conditions in the London area. They are active members of the National Association of Estate Agents, The Association of Residential Letting Agents and The Ombudsman Scheme. This involvement not only allows Rickman Properties agents to keep up with market shifts but also to maintain a broad network of agents and clients– meaning your home will be seen by the right people.
If you’re ready to switch estate agents in the London area, get in touch with us for a quote today.
