Advice to home sellers and landlords during lock down
Briefing sent to our clients on 24th March 2020
Over the last week we have been adapting to the escalating crisis and the restrictions that it has put on all of us and I have no doubt that you are keen to know what we have been experiencing at the coal face, our new modus operandi and finally my thoughts on what you should expect and what you should do until the crisis is over.
Since the threat turned into a crisis, home moving has certainly ceased to be an immediate priority for most people and this is evidenced by the 100% fall in sales enquires and around 80% fall in lettings enquires since last Monday. Is it just us? Having conferred with friends who hold top positions in Cluttons, Knight Frank and Douglas and Gordon, it’s the case across the property industry.
The lock down places huge limitations on everyone in our industry but Anderson Rose is set up to cope better than most. Although 31 Shad Thames is closed, my team are all hard at work with full access to our cloud-hosted IT and phone calls so it’s just like being in the office. I’ve chaired our Monday sales meeting and Tuesday client register meeting via the “Join In” app and they were just as fun and productive! Finally, the quality of our marketing on line is something that has differentiated us for a few years now, mainly thanks to our video presentations that sit alongside the standard issue photos and floor plans. We at AR have enjoyed some smug pride as other agents have been desperately running round properties taking fuzzy videos on their phones! So you are in good hands and have given yourself the best chance of success by being with Anderson Rose.
Looking ahead, what should you expect and what should you do? If you are currently trying to sell or let - I believe that it is better for you to be on the market than off the market. Although you will not have a physical viewing until the lockdown is lifted, the UK population is now at home, bored, on the internet and making plans for happier times. It’s therefore really beneficial for your property to be there even if the prospective buyers or tenants don’t get in touch with us right away. I said to the team this morning that the first sale or let we make on the strength of a video presentation will be a real cause for celebration and I am sure it will happen.
If you are under offer on a sale - I’m pleased to say that so far none of our sales have fallen through. It suggests that buyers realise that the property market will be very active and healthy once the crisis is over.
If you are a landlord with a tenancy in place - you will probably be worried about your tenants and how the crisis is affecting them financially. It’s very early days but I expect the majority of our tenants to be resilient. When we reference them, we look at their savings as well as their income and I am therefore confident in their ability to ride this out. If we manage the property for you, rest assured that Rebecca, Jules and Angeliki are still capably dealing with issues as they come in. Obviously, non-urgent issues are pending and emergencies are being taken care of in a socially-distant way.
I hope this is all helpful and as reassuring as it can be. As ever, please contact me directly if you’d like to talk.
We will get through this!
Yours as ever,
Jon Byers - Founder