Ask any of our clients, buyers or sellers, and they’ll say we ‘tell it how it is’.

Anyone who knows me well will tell you I’m always looking for a positive out of any situation. They’ll also tell you I’m not a ‘told you so’ kind of person.

Well, I’m still ever the optimist, but I did ‘tell you so’!

For years I’ve been trying to explain estate agents don’t SELL houses.

In over 20 years in this business I have only ever sold homes to people who wanted to buy them!

If the current housing market teaches us anything it  proves that there is only so much ANY agent can do to SELL your home.

..Yes, you’ll hear things like ‘multi office marketing’ or ‘extra exposure’ but this is simply BS packaged as hope.

It should be obvious by now, unless you’ve been living underground for the last 12 months, that the vast majority of us are unwilling or unable (more likely the latter) to purchase a property, and there’s NOTHING any estate agent can do to alter that fact.

So, my point is?

Well, when confidence and mortgage availability are restored, more houses will begin to ‘sell’ because more people will BUY them.

Just remember this current market situation when it comes to choosing an agent.

Fat fees and BS doesn’t work anymore, we’ve all moved on.

In the first instant we are matchmakers, we introduce potential buyers to sellers and vice versa, simple as that.

The really good/skilful agents then go to work and ensure that everyone gets to exchange/completion..

Now that’s worth paying a reasonable fee for.

With all the differing opinions and varying 'advice' out there at the moment about the current housing market, it's no wonder it's confusing.

What's really going on?

In my experience the most successful price reductions over the last few weeks ( that have resulted in an agreed sale) have all been , on average, 20% lower than was being asked a year ago!

It's what I'm now calling the 20% rule. That's what it seems to take to sell, some people are just getting there quicker than others.

The implications are twofold. Firstly, if you bought a property within the last 1-2 years and are contemplating selling now, I'd say I wouldn't if I was you!

Secondly, if you reduce sufficiently and manage to pass that reduction on it's actually a good time to get involved, (i.e 20% off £275,000 is more than 20% off £170,000) assuming everyone in a chain follows the same principle.  If they don't, then move on to another one.

So, if you're determined to sell, it can be done!! Do the research if you're buying or selling, or both.

Remember, the 20% rule applies to the house you're buying as much as the one you're selling.

Happy hunting