So what has the last six weeks bought for The Smart Homes Team
We are surprised with the level of the activity within the local market given the current negative press, however we are not suggesting for one moment that the majority of us are not experiencing the effects caused by the current cost of living crisis and interest rate rises, but it does go to show that the Solihull market is a very self sufficient one and with a drop in inflation this week we can only hope that this will help.
Many buyers aspire to move into Solihull borough from surrounding areas, and once they are settled within the area they tend to stay and move within, upsizing from a two bed to a three, from a three to a four and of course then there are down sizers where vendors have bought their children up they in turn have moved out so they need something smaller but offering the same comfort of living.
We have agreed 132 sales over the last six weeks and instructed 128 new homes to the market so continue to have a majority of properties available for our buyers whilst offering the service we have become known for.
We are finding that many purchasers and vendors are looking to reduce the number of holidays they will take and maybe hold off changing their cars but still have a desire to move home as circumstances change.
We are fortunate at Smart Homes that many of the Team have worked in a more challenging market previously and have the skill set to manufacture business and even those that have entered agency within the last five years have learnt from the best, several of our senior staff have indeed ran or owned their own agency previously so are knowledgable on how to survive in a more challenging market ensuring our vendors and purchasers are still able to move.
What we are finding is that many other agents are scrambling around during these more difficult times, Solihull as I am sure many other areas have seen a lot of new Estate Agents open their doors over the last seven years in what us veterans would call the glory days and the market that they experienced over this time has been fruitful, now is the period that we will see those agents challenged.
We have all been guilty of an element of order taking over the last five years, and in particular the last few years are certainly not been the example of traditional estate agency with the effects of covid, lower interest rates and stamp duty holidays. It is a time for agencies to be pro active in their approach and vendors will now want to see their agent cross selling and negotiating up and down chains to facilitate a sale and generally working harder and exploring all avenues, this is only a skill set that you can obtain from experience.
Whilst we believe the next six months will be challenging we are sure that if properties are marketed and priced correctly and placed within experienced hands who have the team to support these sales through to completion the market will remain fluid.
We will continue to work hard for our vendors and buyers and look forward to helping clients make the Smart move.
Land and New Homes
A really busy and exciting few months for Brookvale & Smart New Homes, we just come off the back of the successful “Circle” networking event that has generated lots of new contacts and new business and had amazing feedback, we have now secured a date for the next event which we hope will be even more successful and welcome new members to the circle.
We have also been instructed on a number of development opportunities some with and without planning in highly sought after areas of which we are in the process of discussing with our developers clients. The partnership continues to go from strength to strength and we fully believe we are in a great position for the challenge ahead.
New Homes have been instructed on a number of larger new build homes in the area which will be marketed with the portfolio branding and helps strengthen what has proven to be a great addition to the already successful Smart Homes brand.
We are now over 50% reserved on the Imperial House scheme, located in the centre of Solihull and look forward to the launch of the new show apartment which will be available in August to view.
To Echo Jamies comments about the current market conditions, whilst we are experiencing a slower market, there will always be a need to buy a property due to individuals circumstances and with the shortage of new homes we will continue to work with developers bringing new properties to the market.