Finding the Next Gear in a Slowing Property Market

Blog Author
Paul Jager
MOL Product Manager - Property & Conveyancing

They say nothing is more secure than bricks and mortar. Since the financial crisis this phrase has felt less and less relevant but over the last year the property markets have started to once again move in the right direction.

This year has seen the most houses sold since 2007 but with all this blue sky it’s easier to see some dark clouds on the horizon.

According to Rightmove, the average price of new houses on the market has fallen by 1.7% and this trend is mirrored by Nationwide, who have used their own data to determine that house prices slowed by 0.4% in October.

In a slowing market the challenge for agents can be meeting the expectations of their clients.

Every customer wants to get the most of their property for a variety of reasons whether it is releasing some cash for other investments, finding that perfect family home or looking for something smaller. Every decision is made on getting every last penny out of your property without making it undesirable to buyers.

MOL’s Property Programme Manager Paul Jager has been in the property industry since 1985 and has seen the challenges of a volatile market:

“You have to have a plan and be creative. Try unusual techniques such as viral marketing and open houses to set you apart.”

“Finally the key is managing the price expectations of the seller. Remember that they want the most they can get from their property but sometimes that’s not how it works. If you put a house on the market 20% above the true value then it will never sell and that’s no good for the agent. Eventually they will get fed up with no offers and leave you for someone else.”