![]() ![]() More interest leads to more competition, which leads to a better sale price. Greater potential to secure a premium price – Because they are in contact with more buyers, they will be able to generate more interest in the property.More accurate pricing advice – because they are dealing with more properties and more buyers, they have a firmer grip on the buyer demand levels, affordability levels and what buyers have very recently offered on (and paid) for similar property.On the other hand, Cheffins have lots for sale locally around the £500k market – They have more of the right ‘bait’ and should have greater knowledge of (and direct contact with) more buyers active in our target area and target price bracket.Ĭheffins will have more ‘hyper local market knowledge’ and this will bring the following benefits:.But when you take a local view, you see they don’t have much for sale (in the target property’s price bracket or area) – As such, they will have a small local buyer database and less ‘hyper local market knowledge’.As you can see, the national hybrid agent has 1,000’s of properties for sale right across the UK – They will have a huge nationwide buyer database.We’re currently looking to buy (and then sell) a £500k property in Cambridge, and going through the process of accessing estate agents (to be instructed to handle the sale), so let’s use this as an example.īelow we’re comparing a leading national hybrid agent against Cheffins (a leading high street estate agent in Cambridge). Once caught and on the database, the estate agent can start to contact these buyers, and encourage them to view (and offer on) your property.Īs such, lets look at how the ‘bait’ from one of the UK’s largest national online estate agents stacks up against the ‘bait’ of a local high street estate agent.Each house an estate agent has for sale acts as ‘bait’ that attract homebuyers to an estate agent’s buyer database.To understand how an estate agent’s buyer database is built, it can be helpful to compare estate agents to fishermen.įishermen catch fish. What you really want is an estate agent with a large local database of buyers looking to buy a property in your price bracket. ![]() In reality, a huge national database is of little practical value to your sale because 99% of the buyers on that database are not looking for property in your area (or price bracket). We have no doubt their claim of having “one of the UK’s largest database of registered buyers” is factually correct. We were looking at the Purplebricks website recently and saw this: Why the best high street agents get better resultsĪ smaller (but more targeted) buyer database.high street (who will get you the better price) ![]()
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