Even though I had my deposit ready and my mortgage approved, I wasn’t entirely convinced I wanted to buy a property. I waited until the estate agents were able to show me something truly exceptional before I was ready to put in an offer
(PRWEB) November 30, 2012
While some media outlets continue to report that the bottom has well and truly fallen out of the UK property market, the news coming out of the sector isn’t all doom and gloom. While many London estate agents, as well as those around the country have been forced to downsize or even close their branches, it appears that there is still an opportunity for sales to be made and records to be broken.
Private Landlords London is one firm operating in the property market that are bucking the downward trend and are managing to carve out a solid reputation. Despite only entering the market a few years ago, just as the downturn was taking effect and the property bubble was showing early signs of deflating, they have managed to weather the storm and do the necessary business to not only stay afloat but also improve their annual figures year on year.
So while the property sector in the UK is no longer the thriving market it once was, there have been numerous good news stories that show there is still business to be done, if you can adapt to suit the new environment. Where once, house and flats practically sold themselves and buyers were falling over each other to secure a deal, now more work needs to be done on the part of London estate agents.
As banks have reacted to the downturn and the deflation of the property bubble by toughening up their criteria for approving home loans and mortgages, as well as withdrawing those attractive, once in a lifetime offers, that included 125% mortgages, the number of people who qualify for a mortgage or want to apply for one is shrinking. This has made it harder for estate agents to sell a house quickly as the number of buyers simply isn’t there anymore.
Another reason why online estate agents have found it harder to make the number of sales they once were, is that buyers are more cautions now and are more discerning when it comes to selecting a property. This is due to a few reasons, one of which is that as it is no longer guaranteed that the price of the house you buy will continue to rise, a buyer must pick carefully to ensure a return on their investment.
Also, as the market leans more towards the favour of the buyer, London estate agents must work harder to show their customers why a property is right for them and that they should sign on the dotted line.
By meeting the evolving needs of the house buyers in the current economic climate, London estate agents, like Private Landlords London, can continue to thrive despite the tougher conditions. To find out more about this firm of online estate agents, visit their website at http://www.privatelandlordslondon.co.uk/