Analysing Buyer Behaviour

It’s interesting to note that in a cooling market buyers behave differently to when the market is trending upward.

During and immediately post covid, when the world was uncertain on so many fronts, the market was red hot as buyers sought certainty in this one area. Our team were fielding a large volume of phone and email enquiry and conducting individual private inspections. The communication between buyer and agent was extensive.

Now, as the market has cooled, buyers are sitting back and waiting for the first open home to make their initial contact with the agent after seeing a property come online. In the meantime they are doing their research, comparing properties and narrowing their selection criteria.

For sellers, this change in behaviour underlines the importance of pricing the property correctly and conducting open homes from the outset when interest will be at its highest. Attendances at opens tend to drop off in the 3rd or 4th week of the campaign so the best opportunity to secure a buyer who will pay the best price is in the first two weeks when interest is highest.

If we can assist you with the sale or purchase of a home, please don’t hesitate to contact our experienced team.

Until next week,
Nick Lord (Director)