Current Trends Property market has ‘turned’ Prices have recovered in some areas to 2007 levels, but still a long way to go for most areas – Especially to keep up with 3% annual inflation Transactions are recovering – More important from the industry’s perspective Help to Buy relationship with driving up prices and evidence of a ‘housing bubble’ yet to materialise
Changes to consider Ask the question throughout the report:- ‘So what?’
Ask who is your consumer/public? First time buyers People trading up People trading down Property investors – Traders – Buy to let Tenants
How can you adapt your services, expertise and contacts to them? One person ‘on the buyer’s side’ – But, you only do one part of a house survey Why not:- – List all the things that need checking Drain, electrics, gas, – Offer to check the guarantees – Offer to have them all checked on the same day? Meet with the client to build a lifetime rapport? What can you do to liaise on the client’s behalf with legal companies and lenders?
Summary Market is recovering – May not reach previous transaction levels There is and won’t be an ‘average’ market anymore Essential to be seen as ‘local property expert’ Target marketing and expanding your services is needed – Customers should be a ‘lifetime’ relationship