Slower sales market is encouraging hesitant vendors - claim

Properties are taking longer to sell but this is encouraging other previously hesitant vendors to put their home on the market, an industry executive claims.

Heather Staff, co-founder of agency prospecting tool Spectre and CRM provider Street.co.uk, said market conditions are changing but that is having a positive impact on listings.

Speaking in an exclusive video interview with Estate Agent Today’s Lee Dahill, Staff revealed data from Spectre and Street.co.uk showed a 4% annual increase in agency instructions during October, while there was also an 18% rise in fall-throughs.

Staff said the amount of stock for sale has almost doubled in the past six months, adding: “Market conditions are changing but that doesn’t seem to be impacting people’s desire to get their own property on the market.

“In the crazy market we have had in past couple of years, vendors were hesitant.

“They couldn’t see their onwards purchase as things were moving so quickly.

“Now properties are staying on longer they are reassured that they could find an onward purchase so are more confident about putting their property on.”

It comes as Street.co.uk launched the Property Management arm of its software yesterday.

The tool includes features such as in-app calls, sentiment analysis and AI-powered image enhancement. 

Watch the full video interview below to find out more: