The number of properties coming on the market is still not meeting the huge demand from buyers, but the level of new listings has improved, according to Rightmove.
When comparing March and April with January and February of this year there was a jump of 51% in the number of properties coming onto the market, with over 260,000 new homes coming up for sale over the past two months, data from the portal shows.
Rightmove’s property expert Tim Bannister said: “More buyers have realised they don’t have the luxury of waiting until the weekend to decide which properties they want to request to view, and so they’re making sure they’ve signed up to find out first when a home comes up for sale.”
There are now over 2.7 million people signed up to receive instant property alerts on Rightmove to find out first about properties coming up for sale
“We’re hearing reports of some areas where properties are selling within a few days of being added to Rightmove, and the average time to find a buyer is the quickest we’ve ever recorded nationally, Bannister added. “But we also know there are thousands of local markets and some are moving more slowly than others.”
Comments (6)
any buyer who thinks waiting for a property to be loaded onto a CRM, uploaded to a portal and receiving a mass notification is the way buy a home is being as naive as the agent flogging it is lazy.
The portals do one thing; they introduce applicants to an agency once, from there it’s a professional agent’s job to find them a suitable home and use the information they gain from qualifying applicants to value new listings or adjust the price of existing sock.
Agent don’t want or need desperate applicants popping up on their desktop demanding viewing at times to suit them. Volume is burden not a good thing.
This might appear to be a great to shout about story but its simply providing opportunity to explain the portals are log jammed with traffic and that serious applicants are rat running like taxi drivers straight to the agent’s door
As a seller I want maximum exposure for my property asset.
The only way that may be achieved is to have an ad on one of the 3 major web portals.
Until it is on a site I would not consider selling no matter what any EA I instructed stated.
Until it is on a site I would not consider selling no matter what any EA I instructed stated.
?
that isn’t correct, if you are instructing an agent who is reliant on the portals to find you a buyer you are handing your greatest asset to someone who is dependent on applicants they don’t know and have not qualified looking at the internet and finding the property. That react to enquiry method of sale will achieve a lower price than managed applicant database selling.
What you are describing sounds logical but it breaches two case law contractual duties of agency.
I appreciate there is a whole school of agency thinking where portal juggling is the go and listing properties at search thresholds is advised but that is advanced passive intermediary portal listing and not estate agency. The traffic argument doesn’t wash with me as I am analysing the numbers and measuring digital efficiency
The market is busy but not as busy on what is being reported. All a bit of a false economy until the stamp and furlough come to an end.
Make the most of it now as the backlash of Brexit and the Pandemic are yet to follow.
Not m re Brexit whinging fgs
The vote was 2016 get over it and move on