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‘Small local agents out-gunning the big boys’ by Stacks

Feb 27, 2013   //   by mecadmin   //   blog, Uncategorized  //  No Comments

Article of Friday 22nd February 2013 in 'Estate Agent Today'

"Small local agents out-gunning the big boys, says Stacks"

Property search company Stacks has noted the rise of the smaller estate agent as a marked trend.  The firm says that even wealthy buyers are no longer dazzled by the top-end names – and that smaller, local ones are doing a better job.

Amanda Ake of Stacks Property Search said:

“Big agents are having to work harder to compete with their local rivals who are more agile and able to offer lower fees. Their personal local service appeals to vendors, and there is a decreasing benefit to a national agent who focuses on its ability to reach a wide audience, and have to work hard to provide a personal and competitive service. This is because the dominance of property portals allows small agents to reach the same potential buyers. Gone are the days when the larger agents were the only ones approached by top-end buyers and those from out-of-area.”

Other trends Stacks have noticed include a loss of buyer appetite for ‘wrecks’. The firm says most of their clients want a property in perfect condition, which they can move straight into without having to worry about raising finance for both the purchase and its renovation.  Bill Spreckley of Stacks said: “The market has reversed. Ten years ago, wrecks would go for barmy prices at auction as developers, builders and renovate-to-live buyers competed with each other. Today the auction rooms are a much quieter place.”

The firm says that buyers who once would only have considered a period property are now being seduced by newer homes, for similar reasons.

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