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Get 4.5% more for your property

Preston Baker Property Launch model gets more money for sellers; on average 4.5% more

How much is 4.5% of your property’s value? That is how much more Preston Baker’s Property Launch model is achieving for sellers over the national average.

Originally posted: 2nd March, 2023

Preston Baker’s way of selling property, using Property Launch, is achieving sellers 100% of asking price

How much is 4.5% of your property’s value? That is how much more Preston Baker’s Property Launch model is achieving for sellers over the national average.

While, as revealed by Zoopla this week, sellers nationally are having to accept an average 4.5% discount to the asking price to achieve a sale – the highest for five years as a buyers’ market takes hold, Preston Baker’s way of selling property, using Property Launch, is achieving sellers 100% of asking price.

Property Launch v UK average

“Property Launch a real winner for sellers”

“The way Preston Baker Estate Agents sells property, using its own Property Launch model, is proving a real winner for sellers in the more challenging post-pandemic housing market,” said Ian Preston, Preston Baker’s CEO.

“When you think that our way of selling is getting sellers 4.5% above the national average, that’s a lot of extra money for our clients. That money can be used for all kinds of things and makes a huge difference to people’s lives.”

Over the last 12 months, as the housing market has moved into a more normal housing market, due to factors including rising interest rates and cost of living increases, Preston Baker’s Property Launch model has delivered an asking price of 99% and above, with the latest available figures, for January 2023, at 100%.

Our own data shows that Property Launch viewing numbers per property have declined, peaking at 16 per property in May 2022, and standing at 7 in January 2023, but our way of selling continues to get 4.5% on average over other agents.

“Anyone can sell a property for a good price when the market is buoyant, such as in the pandemic,” said Ian.

Property Launch performance by month

“Best results possible for homemovers”

“However, it’s when the market gets tougher that an estate agent such as Preston Baker really comes into its own, as we work tirelessly on behalf of our clients to get the very best outcome possible,” he added.

“Our Property Launch model is proven to get the best results possible for homemovers; it gets all interested buyers at a property during a launch event and capitalises on the premium window for getting the best outcome.

“Property Launch is proven to get thousands of pounds more for properties than more traditional marketing methods as the marketing activity results in buyer competition where all interest in the property comes at once.”

Zoopla’s lastest House Price Index report, as with other industry reports, highlights that the current housing market conditions are close to the pre-pandemic years.

While the average house price has risen £42,000 since the pandemic began, it says you could lose a third of these pandemic gains if you were to sell in today’s buyers’ market, as you would most likely have to offer buyers around a 4-5% discount off your asking price. This equates to a third of the value you gained over the pandemic, or a discount of £14,100 off the average home.

Housing market recovering in line with 2019

Although the housing market is recovering in line with 2019, price growth and sale numbers are still way behind those of last year, it says.

Zoopla reports that buyer demand and sales volumes are 20-50% lower than a year ago but slightly ahead of the pre-pandemic years (2017-2019).

Preston Baker data reflects this slowing down of the market, with the number of viewings per property declining. It’s important, however, to look at the current housing market in context. You could easily be forgiven for comparing the market and property prices to the frenzied conditions of the pandemic. It’s perhaps better though to look at a bigger snapshot and back to the pre-pandemic years when activity levels and growth in house prices were more stagnant and conditions tougher.

More choice for home buyers

There are now more homes on the market, reports Zoopla, which is creating more choice for home buyers who now are more able to negotiate on price. This helps reduce the upward pressure on house prices and the market is seeing an adjustment of asking prices in the face of this weaker demand.

“In this market it’s essential to price properties correctly and Preston Baker advises homemovers on this and consequently gets buyer enquiries and viewers through the door,” said Ian.

“A property will always have a sweet spot price in any given market and it is our job to get this right. The fact we have achieved an average asking price of 99% - 103% over the last 12 months is testimony to our selling model and the total commitment and passion of our team for helping people move and get the outcome they want.”

Rapid transition

As Zoopla reports there has been a rapid transition from a hot sellers’ market, where the majority of buyers had to pay the asking price, or above, over much of 2021 and 2022, to a buyers’ market with more negotiation on price, which is where the expertise of a good estate agent is so valuable.

Positively, Zoopla does report that the housing market is still on track for a soft landing with modest prices falls of up to 5% and a total of 1 million sales in 2023.

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