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Selling & Buying

An update from our MD

April 24, 2020

Steve Tetlow, Managing Director – Having spoken to many clients over the last few weeks, I have, on occasion been asked about the effectiveness of virtual viewings. Understandably, the industry has, as a result of the lockdown, tried to find a solution to enable buyers to ‘view’ a property. However, my advice is that launching a property to the market today will undermine the marketing impact at the most crucial time – when we return from the lockdown. Buying a home is a serious investment and, in my experience, buyers need to physically experience a viewing. The marketing carried out is designed to attract buyers to that process, not replace it.

At Mackenzie Smith, the team are talking to clients and provisionally booking appointments to carry out market appraisals as soon as we return. Although we have access to an enormous amount of data, it is only possible to carry out an accurate, well-researched valuation having visited the home in person. There are so many individual factors that need to be considered. Most buyers will decide to purchase based on how they feel about a property and, as experienced agents, it is our role to interpret how buyers may react, factoring this into the valuation process. Property valuation and buying is not just about bricks and mortar.

Although sales are taking longer to exchange contracts, both sellers and buyers are being patient, understanding that lenders, agents, and solicitors are working in difficult conditions. Where we are still agreeing new sales, the majority of these were viewed ahead of the introduction of lockdown.

There are, of course, many commentators expressing opinions about the property market. The reality is that this is new territory for all of us. However, what we do know is that pre-lockdown the year had started very positively in both the sale and letting markets. Interest rates are low, demand still outstrips supply, and coupled with the government’s support to business there is every reason to remain upbeat.

It was not that long ago that we exited the banking crisis of 2008 and despite many negative predictions, this resulted in a period of buoyancy both in terms of prices and transactions. This may well be the case in 2020.

Whilst our branches are currently closed, it is very much our intention to continue to deal with all your enquiries as quickly and efficiently as we can, either on the phone or via email.

Please see below for the relevant contact details:

Sales at Fleet, Ash Vale or Hartley Wintney – Stephen Tetlow on 01252 836734 / 07825 133378 or stevet@mackenziesmith.co.uk

Sales at Yateley, Farnborough or Hook – Gavin Fouracre on 01252 597900 / 07771 553399 or gfouracre@mackenziesmith.co.uk

Lettings – Tracy Cook on 01252 551045 or tracyc@mackenziesmith.co.uk

Land – Katherine Gray on 01252 597765 or katherineg@mackenziesmith.co.uk

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