TOP DOGS

We had some celebrating to do at Imagine this week. Figures collated by an Independent Market Share Analyst showed we are currently the No 1 Sales Estate Agent in Watford. The celebrating didn’t stop there; we’re also the No 1 Letting Agent too. There are around 20 agents operating in Watford so this was a highly satisfying double to achieve and not a scenario that happens in too many towns across the country.
 
Apart from breaking down the agents’ market share, the report contains other interesting information that gives a really good guide to how the market is moving presently. The previous report was completed in early January and showed there were 286 ‘For Sale’ boards in Watford. That figure has dropped to 161 currently. In the same time period, the number of Sold boards has risen from 78 to 131.
 
This succinctly highlights the two major facts that all agents will tell you at the moment; firstly properties ARE selling again & secondly, there aren’t many new properties coming onto the market.
 
Also in the report were breakdowns of the different property types. We had made decent headway into the detached market and were strongest on terraced houses where we are responsible for over 1 in 4 of the sales proceeding here.
 
The most significant figure of all though, for me, was the percentage of agents stock that was sold. In percentage terms, the three leading Independent Agents had sold substantially more of their 'for sale' properties, compared with the three leading Corporate Agents. What this tells you as that Independent Agents are much more likely to give you genuine valuations and agree a sale than the bigger corporate. Yet the Corporates are often more expensive! It doesn’t stack up, does it? Basically their inclination is to overvalue to try and justify the higher fees. My advice? Don’t take the bait!! Don’t be blinded by an overzealous salesperson promising you much gold. Eventually you will have to drop to the correct price, but if tied in to that agent still have to pay a higher fee and probably then (somewhat unreasonably) bare a grudge against all estate agents