At Redbrik we’re proud to stand out in our industry, and some new findings have recently reinforced a few of the areas in which we’re particularly pushing sector standards forward.
A new report, conducted by Post Office Money and developed with the Centre for Economics and Business Research (Cebr), shows properties are now taking longer to sell and sales are falling through at much higher rates than previously thought.
In comparison to the latest findings, we’re selling properties 20 per cent faster than our industry counterparts and we have a fall through rate which is half the national average.
Calculated as the time between a property going on the market and being marked as sold or under offer, according to the research, the average property now takes nearly a week longer to sell than it did a year ago.
At Redbrik, we understand how it feels putting your house on the market and the uncertainty that all parties face while waiting for an exchange and completion, and we’re proud to be selling properties 20 per cent faster than our competition. Across our branches we work to a target of 30/90 – that is a sale within 30 days and completion within 90.
Perhaps more alarming are the figures surrounding fall through rates. The report found that nearly half – 44 per cent – of sales fall through within four weeks of an offer being agreed. Added to this, one in six consumers experience gazumping, with buyers in our very own city of Sheffield most likely to be a victim of this (35 per cent). This has left 65 per cent of buyers and sellers worried about whether they will make it to completion following an offer being accepted.
Our fall through rate at Redbrik is half that of the national average, at 23 per cent. Once again, while this is a strong figure in comparison to our competitors, it’s still higher than where we’d like it to be and we’re working hard to bring it down even further.
While sometimes a break in the chain, problems around buyer commitment or unexpected survey issues can’t be helped, we’re always exploring new ways of ensuring these issues are controlled as far as possible.
Importantly, all of our sales managers have a good amount of time to dedicate to each sale – allowing them to monitor the process closely and provide the best level of support. This can take many forms – it might be advising a vendor on the most suitable buyer for their circumstances, reassuring a buyer by explaining the results of a survey, or advising on the best solicitors to facilitate a sale. We know how important every step is for ensuring a smooth sale.
Since the very beginning, our guiding principle has been to give customers the best possible service. We strive to set the benchmark in this area, continuously reviewing our offering to adapt to the ever-changing market conditions.
We like to think this is one of the reasons we continue to go from strength the strength, standing out from our competitors and ranking as number one Estate Agency in Yorkshire and Humberside.