Instead, we believe the bulk of research is now carried out online, as opposed to at the viewing stage.
Therefore, if you plan on selling your home, there is still a lot of work to do in order to connect with prospective buyers. If you require assistance in selling your home, we can help, so please get in touch.
Number of viewings a buyer needs has fallen
A study by U-See Homes highlighted many issues in the housing market when it comes to buyers looking for a home, with key findings including:
• 39% of prospective buyers bought their house after just one viewing
• 43% of prospective buyers required two viewings before deciding this was the house for them
• 12% of prospective buyers needed three viewings before making an offer
• 6% of prospective buyers needed at least four viewings before making an offer
You would think that prospective homebuyers are carrying out more research online. With video walkthroughs available alongside traditional listings, there is a chance for people to get a great feel for what a home has to offer.
Viewing times are down too
Therefore, the actual viewing itself is a chance to reinforce these initial thoughts, as opposed to being the first chance of a good look around. The following findings, which suggest that physical viewings didn’t last too long, lead to the same line of thought:
• 51% of viewings took 30 minutes or less
• 41% of viewings took between 30 minutes and one hour
Of course, just because buyers are carrying out fewer viewings, and these viewings are shorter, prospective buyers are still putting a lot of time and effort into the buying process. There is a lot to research about a home and area, and some buyers will still look at many homes.
The following findings indicate some buyers are still very busy when it comes to looking for a new home:
• 40% of prospective buyers said they viewed at least five properties before they found the one that was right for their needs
• 23% of prospective buyers said they could have avoided these unnecessary viewings if there had been a virtual guide of the property on offer
• 28% of respondents said if they had the option to via a home via a guided tour, they wouldn’t have needed an initial viewing
Simon Dempsey, U-See Homes, says: “We know that homes are going under offer incredibly quickly in current market conditions and we’re now starting to see a shortage of stock entering the market to satisfy the overwhelming buyer demand spurred by the stamp duty holiday. Homebuyers themselves are also acting at pace, with the vast majority taking just one or two viewings before making an offer and rarely spending more than an hour or two in the process. However, the majority are also viewing a number of properties before they discover their perfect home and while viewing times are brief, they can certainly start to add up when travelling from one house to the next.”
Simon Dempsey concluded by saying; “It’s clear that the wider availability of guided virtual tours could certainly help in this respect, reducing the need to view homes unnecessarily and saving a considerable amount of time for both homebuyer and agent alike.”
As local agents in Newton-le-Willows, we are keen to support vendors, buyers and landlords in the area as best we can. We offer an extensive range of services, aimed at helping you make your next move with confidence.
If you would like to arrange a property valuation, or discuss your property options, please call Fraser Reeves on 01925 222555.