The media often reports an over-simplified story where the property market in the North is championed for any slight uplift, whereas London is criticised for its rising prices and pushy estate agents with sky-high fees.
The contrasting North and South markets mean that agents operate very differently from one another, with those in the North spending more time with clients as the route to completion takes a lot longer. In fact, properties in the North take up to ten weeks to complete compared to the average time of just under a month for London.
Due to each sale being more challenging in the North, estate agents have had to adopt different practices and offer extra benefits to their clients to guarantee completion. For all of the success London agents have, they would benefit from adopting some of these Northern practices to help improve the unfair reputation that’s emerged as a result of working in part of the country with such fast-paced property sales.
Agents in the North are encouraged to offer information that demonstrates knowledge of the property as well as the local area. This is a stark contrast to the rapid London market where agents may not have the time to obtain the depth of information for clients to be able to make a more informed decision.
London estate agents should remember to talk about something more relevant about the neighbourhood or community that might interest potential clients beyond the number of viewings the property has that day to try and push an on-the-spot decision.
Buyers looking for a home at the cheaper end of the market often report that they are not taken seriously by London estate agents. Dealing with a potential buyer with a small budget and inflated expectations can be frustrating, but agents who make more time for these clients really do reap the rewards in terms of client satisfaction and referrals.
Incentive, Incentive, Incentive
Because getting a client to commit to buying can take longer in the North, estate agents are always looking for additional ways to satisfy clients and speed up the sales process. One of the easiest ways to do this is to work with a specialist, customer-centric conveyancing solicitor. This not only makes the legal part of the process as swift and hassle-free as possible, but means you’re dealing with professionals who understand the importance of keeping clients updated every step of the way. This goes a long way in winning referrals and reducing the drop-out rate of purchasers.
The Future for London Estate Agents
Working with modern, customer-focussed conveyancing firms is something more London estate agents are moving towards. It not only means the process is in excellent hands with updates all the way, but they’re also working with solicitors who offer solutions to any issues they encounter.
Placing clients into a safe pair of hands will reduce the amount of time the agent has to spend answering questions and chasing information. It frees up their time to work with new clients and allows them to take on more work, something all London estate agents are looking to do.
If you have any queries about conveyancing you can get in touch with the team who would be happy to speak to you. Alternatively you can tweet us a question at @av_rillo on Twitter.