Homesearch's new report aims to uncover patterns behind price reductions, re-listings and vendor reactivation.
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Key Findings
2/3 of vendors who re-list their property do so within two months.
1 in 6 listings change estate agent during their time on the market.
30% of listings undergo a price reduction.
This Instruction Opportunity Report aims to uncover patterns behind re-listings and vendor reactivation, helping estate agents to identify future opportunities by monitoring the market and effectively mining their existing database.
Our data shows that 1.45 million listings have come onto the market, with 34% of these recording a price reduction. By drawing on Homesearch’s market intelligence and combining this with real-time data, we explore the early indictors that suggest a vendor is preparing to dis-instruct their existing agent. By utilising this information, new agents can effectively identify timings and strategies to approach vendors.
"Our latest data shows that a large proportion of withdrawn vendors re-list with another agent within two months. That’s a huge opportunity for agents, but timing and structured information is everything."
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