The moving home industry in the face of Brexit

With the big ‘B’ looming, it’s no surprise that customers are holding out on moving or buying a new home. Research shows that first time buyers who have their deposits ready are waiting until the end of March. Potential movers are waiting to see if property prices will fall, what will happen with interest rates, and don’t want to be caught out in negative equity if they make a purchase before 29^th March.

So what can we do about this?

Firstly, we can take comfort that people are still moving. We still have customers and more than ever, they’re looking for companies they can trust to offer them a good deal and a great experience.

Customers who are already in a chain and are closer to finishing the process now will try to get their deals through before Brexit, and even in the run up to the end of March, many sellers are offering a reduced price in the hopes of a quick sale. This means more value for potential buyers.

There is always a market, and whilst it may feel a little slow at the moment, there are things we’re doing to try and support our partners:​
 

• We’re reaching out in areas with fewer leads using paid ads and targeted SEO.
• We are working closesly with Rightmove for our removals partners.
• We’re encouraging and comforting potential customers who are unsure about whether to move now.
• We’re promoting our partners wherever we can, with the opportunities to improve their directory pages, prompting for reviews and improving visibility online. Please let us know if there's something new about your company that we can promote.
• We’re still a more reasonably priced and quicker way to generate business, compared to paying for PPC advertising or paying a high price for converted leads.

 
Estate agents are predicting that once a clear path is determined for Brexit, consumers will feel comfortable returning to market. At the moment, there’s a smaller pool of customers, but they’re still eager to move. In fact, with the state of the market, consumers who may have had no need to compare are now using comparison sites to find the right company for them.

We know that there is unrest in multiple industries in the UK right now, but people will always need to buy and sell homes. We’re working hard to make it as easy as we can for those customers to find our partners when they’re ready to go.

What can you do right now?

• Build up your presence – follow up on customer reviews, update your directory, and talk to your account manager for more ideas.
• Consider your offering – look at automating your responses and what you’re offering. You may remember the mystery shopper report we generated last year that showed huge opportunity for companies not following up on leads.
• Consider different locations – there may be opportunity in neighbouring postcodes.

Have a chat with your accounts manager about what we can do to support you in the run up to Brexit. As always, we’re here to help.
 
 If you do want to do more with your account, be sure to get in touch with your account managers.

For Conveyancing speak to Isa, for Surveyors speak to Camillia, and for Removals speak to James.