The Coronavirus, uncertain forces and the High Street Estate Agent

Today, in a time of two uncertain forces, the coronavirus and the stock market, it’s important to stay focused on the things we can control rather than obsess about the things we can’t.

The first Budget since October 2018 will take place on Wednesday 11th March and the newly appointed Chancellor, Rishi Sunak is set to outline the governments plans for tax and spending for the financial year 2020/21. Housing is set to feature, as are the governments plans with regards to the Coronavirus outbreak.

Rightmove recently reported that new instructions were up 2.1% in January, the first positive rise in over a year, but how do prospective sellers choose their agent?

A survey by the Property Academy found that ‘Confidence in ability’ was rated by more sellers than any other single quality and far outweighed the minority of sellers (16%) who based their choice of agents on fees. Interestingly, 71% of respondents placed ‘Likeability and Trust’ in their top five criteria for choosing an agent in 2019, while back in 2009 just over half (57%) chose an agent based on trust.

George Sifonios, Managing Director at David Astburys said, “The results of this particular survey are very reassuring for us as myself and the other founders came together 4 years ago to build the number one Estate Agency, our ethos to be an agency that is Professional, Trustworthy and Flexible, and we believe we have achieved that in an industry which has a reputation of having none of those values.

In more positive news for independent Estate Agents, in a survey conducted by Zoopla, almost eight in 10 sellers have instructed High Street agents in the past year, which was a significantly higher figure than 12 months ago.

The study specifically showed that 79% of those which participated, instructed High Street agents in 2019, whereas in 2018 the figure was 66 per cent. Some 20% of the same instructed online agents, although Zoopla’s research shows only 9% actually sold through online firms, suggesting the rest went on to commission High Street companies.

Yianni Aresti, Founder and Lettings Director at David Astburys said, “We really focus on building a rapport and strong relationships with our clients and vendors so that we can gain an understanding of their individual needs and in return give them the customised service they require. This is something you won’t get through your phone or the desktop, only from an Independent Agent, like David Astburys.”