With PurpleBricks hitting the headlines recently after (reportedly) only selling 50% of the properties they take on it made me wonder what the local statistics are. Not just with online agents but the local, traditional agents too.
The results are surprising… well to me at least.
Personally, I was delighted to see us sitting at the top of the tree with an 89% success rate*. To say we effectively sell 9 out of 10 properties we take on is an outstanding achievement and testament to how much hard work and creativity our team puts into selling property.
The three other biggest agents in our area did not fair so well with success rates ranging between 53%-64%. Wow – to think that if you list your home with an agent and its virtually a toss of the coin as to whether you will ever actually sell is surely a concerning statistic. It was certainly a stat I wasn’t expecting.
So how did the new kids on the block compare? The online agent that loves to get under the skin of us “traditional” agents. Well… rather well with a 73% success rate locally. Whilst personally I’m thrilled with our performance, professionally I feel a little embarrassed. Of course, this still means over a quarter of people will have paid for something they didn’t receive (with PurpleBricks a fee is applicable whether or not they actually sell your home).
I’ve waxed lyrical previously about the importance of asking an agent important questions to determine if they are going to be successful. Questions such as what percentage of the asking price to you achieve on average? Or how long does it take you to agree a sale normally? Surely the most important question of all though is “What are the chances you will actually sell my property at all?!”
* statistics are taken from Rightmove based on sales agreed / new listings for the entirety of 2017 in the BH12 & BH14 postcodes