As we enter the autumn and what should be a busy time of year for a Buying Agent, I am not as busy as I would like to be! Clearly, I am still out looking at houses, but for the first time in the last 4 years I have fewer clients than I would like.
The incorrect, but obvious conclusion would suggest this is a consequence of the current state of the market driven by a cost-of-living crisis, high interest rates and out of control inflation. Fortunately for us, there is a much more positive story.
As a business we are often asked how many houses we buy off market, and the answer, statistically, is surprisingly high and certainly high as a proportion of houses we show to clients!
Of the thirteen Hampshire/Berkshire houses we have transacted on in 2023, ten of them have been off market. This has ranged from showing the only buyer around a particular house, to buying houses that were previously on the market but withdrawn. Almost all the houses had an agent involved in some form or other as we recognise the importance of our relationships with the selling agents.
Another interesting and important statistic and one we are very proud of is our fall through rate. The National Average is 1 in 3. Over the last 4 years we have been at 1 in 16. Even with the two that did fall through; a client’s job security is out of our control, and the other was a result of conveyancing fatigue (an issue for another day) with marital delays on the other side.
Sellers like the privacy and security that an off market sale brings. Our clients are generally very motivated, and with our guidance to overcome any issues, deals proceed to satisfactory conclusions.
So, our hopefully short term, quieter autumn is a result of a busy spring and summer and will result in being able to help more clients with their searches in 2024.
Please call me or James Macleod to discuss for anywhere in London or the south of England.
(PS – While September 2024 (next year’s academic new year) seems a long way off – start now!)
