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Jonathan Hudson

July 2017

The NAEA Propertymark rebrand was launched earlier this year and the benefits of this change to you will soon be available for all to see, none more than the consumer (your customers). The NAEA Propertymark board realise that our members will be delighted we are promoting the organisation as the trusted trademark of our industry, one to be revered and the only one to choose in order to get full protection.

NAEA has worked tirelessly over the last few years making sure it is the number one voice of the industry, supported by the great work of Lansons PR agency. Soon there will be a big marketing campaign to champion the Propertymark name. This is specifically targeted at the consumer which should help you gain more business over non-member firms.

We need your help! You should have received your new promotional material for Propertymark which needs to replace the old. This will help all of us promote the new Propertymark brand. All of us need to do our bit and continue (or re-start) promoting the fact you are members with consumers so they know they are “protected”. Promoting Propertymark on your websites, letterhead, window stickers and business cards will all help to reach the consumer and improve awareness, so together as members, we can be ahead of the competition.

The London Market

For most of us at this time, the London market is proving somewhat testing. Relatively low stock levels mean agents are still struggling for properties, which makes getting the right stock, at the right price, even more challenging! A market where there is a shortage of buyers, each one more price sensitive than ever, leads to lower transactions numbers, which has been witnessed across London this year.

It’s not all doom and gloom though, as agents are still reporting that sales are being agreed, but no doubt it is a frustrating market right now. Some buyers are taking weeks to make a decision instead of hours and conducting up to three or four viewings before deciding to proceed with an offer, if at all! Then the real negotiation is to try and match a buyer’s price to those of the seller, which can often be some way apart, more so than in a bullish market.

In more affable areas some sellers are simply refusing to sell unless they hit their price. However, in areas of lower value, or where sellers have a good motive to sell (motivated seller), deals are being agreed.

Perhaps after the summer, we can hope that the political landscape settles down and confidence returns.  The London market never stops, it just takes a breath sometimes!

Feedback

As your London Regional Executive, I hope to meet many more of you that I haven’t met yet, at the various events throughout the year. If you have ideas or suggestions for how we can improve, or share some knowledge, I would be delighted to hear from you and share them with the board. I hope to see you soon.

Jonathan Hudson MNAEA, MARLA, MNAEA Comm
NAEA Propertymark Regional Executive
jonathan@naea-execs.co.uk