A week in the life of an estate agent: Wednesday

Wednesday

Today started with our usual fast-paced morning meeting. We discussed yesterday’s appointments, the successes from those appointments and what else might be achieved from information gained from perspective buyers. If we hadn’t found them the right new home, we discussed what they liked, what didn’t work and what they would compromise on. This enabled us to decide what other properties we have which might be of interest to them. We are now persuading them to view.

During the morning meeting, we discussed changing mortgage rates with our mortgage advisor Lloyd Wyatt of Logical Mortgages. Although we expect the Bank of England to increase the base rate and variable mortgage rates to increase further, fixed-rate mortgages rates are already falling. Great news which the press doesn’t talk about. Lloyd believes that it is likely that five-year fixed rates will be available under 5% in the new year. If you need help with your mortgage or re-mortage, I would be delighted to help buy putting you in touch with Lloyd.

In the late morning, I have been conducting viewings at a retirement development. Two separate clients, one after the other, viewing two separate apartments. Both have offered on the properties they viewed and one offer has already been accepted, the other is still in negotiation. Afterwards I took an investor to a recently-reduced three-bedroom mid-terraced property which is currently vacant. Again, this has resulted in the applicant offering; a successful morning thus far. Also, a clear demonstration that ensuring your price is right for market conditions can get fast results. Call me or talk this through with your agent if you are not getting enough interest.

This afternoon the concentration will be on converting offers into sales. Alongside this, the double deal that I mentioned on day one has now come to fruition and I now have the paperwork to issue the MOS (Memorandum of Sale). We are seeing activity levels that are much higher than they were two or three weeks ago. Funny how fast things can change!

There could be big changes after tomorrow’s mini budget announcement. Hopefully this will lend stability to financial markets and have a positive impact on lenders and what they offer. I’ll let you know if it has an immediate effect on the property market.

Below is the retirement development in which we are extremely successful and in which I agreed a sale today. Now its head down and back to the job. Back again tomorrow.