Cash is no longer king. But who is?
For decades the ‘cash buyer’ has been the king of the property market. Pushed to the front of the line by sellers and estate agents, often able to grab the best deal. However, there is a new type of buyer who is wearing the crown....
Their name is ‘The Flexible Buyer’.
And here’s why
The current property market is frantic! Totally out balanced by low stock levels and high demand. January 2022 data showed a drop of 49% in properties for sale compared to three years ago, a 15% reduction in properties coming to the market in comparison to 2 years ago and the highest level of traffic for new buyers on record! Even higher than when the stamp duty tax holiday was in place. That statistic in itself shows the power of this property market.
The most in demand types of properties are 3 and 4 bedroom detached family homes. In the Home Counties we are seeing a real dog fight for family homes and this is resulting in the power ball being passed to ‘The Flexible Buyer’. First time buyers or no chain buyers, who can give reassurance to a seller they are happy to wait for them to find, is worth their weight in gold.
Families looking to upsize in this market have a 0% chance of securing a new property on the open market if they haven't sold their own home yet. So the key buying position to be in for sellers is under offer with a flexible buyer. This will result in them having plenty of time to find their dream home.
That is why we’re advising our clients to secure a buyer who is living at home still or in rented accommodation on a month by month contract, who will be emotionally committed to the sale and happy to wait while you search. This is the kind of estate agency work which means you will not lose your dream home and will place you at the front of the line when the perfect property goes online.
If you would like to discuss this marketing technique with an avocado partner you can simply request a call back via this link.