50% of properties that go to market never complete!
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50% of properties that go to market never complete!
It is a surprising fact to most house sellers that around 50% of properties listed to the market never complete a sale. Around 70% go sold (stc) but some 20% of these will fall through and be withdrawn for various reasons. 30% never find a buyer at all.
These statistics reflect the importance of two things.
Firstly, it is important that properties are priced well when they hit the market. Urgency and the most interest happens when a property is first listed and this can often be the best time to secure a sale at the best price. Although reductions and fresh marketing can help get eyes back on your property it will never have as much activity as it does in the first few days of marketing. Also choose your agent carefully and consider if they have the local knowledge and experience to guide you through the transaction.
Secondly, once a sale is agreed be sure to appoint a solicitor who is knowledgeable and preferably local to you or the property as this may help the transaction go smoothly. It is also likely they will have a working relationship with the agent selling and by working together they can help progress your property transaction.