Property portal needaproperty.com has studied buyer psychology, alongside its own survey results, and it has identified neighbourhoods as the new prime reason for viewings not converting into a sale or let in the UK.
A property found online may match a buyer or tenant’s search criteria, but when they go to view it, or carry out more in-depth searches, many decide not to put in an offer because the neighbourhood has not matched their expectations.
NeedAProperty has responded to its findings by developing its state of the art portal to further inform buyers and tenants on each individual property’s neighbourhood.
Every property on needaproperty.com now has a unique array of neighbourhood information, giving browsers up to date information on its individual schools and local amenities, places of worship, restaurants, sports and recreation, business and professional events, updated forthcoming entertainments and events, as well as the exact distance of each one from that specific property.
Scott Green, CEO of needaproperty.com explains: “The way buyers and tenants search for property is changing again, as they become increasingly sophisticated and want more information before they go out to view property.
“Online information now saves estate agents valuable time on negative viewings and a higher percentage of viewings convert into sales, but we can save them even more time and money now, with our unique neighbourhood information facility.
“It’s all down to research, and that is what we are about. By arming buyers and tenants with all the information they need on the property and its neighbourhood, eradicating nasty surprises on viewings, they are more likely to buy or rent a property when they go out to see it, making better use of estate agents’ time and money.”
Life Residential Managing Director, Jonathan Worth says: “Our negotiators use this neighbourhood information as a sales aid when they sit with clients in the office. It is incredibly useful and gives customers a really good picture of what sort of neighbourhood any property is in.
“This extra neighbourhood and events information, along with needaproperty.com’s ‘travel time to work’ calculator has reduced the number of objections our customers have at viewings, as they already know so much more before they decide to come out. The subsequent upturn in our viewing to sales ratios is impressive.”
Scott Green adds: “Moving forward, we are looking at other reasons for property viewings not converting to sales or lets and addressing those issues online. If we can solve them, we will again save estate agents’ time on wasted viewings and further raise the viewing to sales conversions ratios.”
Edited by Gordana Davila