One of the most important things that estate agents do is try to predict demand in the property market. While a lot of their everyday work focuses on meeting the demands of the clients who come to see them looking for support now, the industry and individual firms are always looking to see what is expected to happen in the industry. This means that a great deal of time and interest is placed on predicting the future in the property market and different firms have different ways of determining what they expect to happen.
There are many traditional pointers used by estate agents but there has also been a switch to more modern methods. This can be seen in the fact that Knight Frank have announced that they expect the summer to be a busy period for selling prime property. They are basing this opinion on the pattern of web visits that they have experienced at their website. The fact that this information can be analysed in a manner which gives an indicator of potential buyer behaviour means that it is vital that estate agents move with the times.
Even if there is no one within the firm in a position to analyse the data that exists for website traffic, hiring someone or outsourcing data analysis work to experts could provide an indicator of what is likely to happen in the near future. This makes sense because people are likely to research properties before they buy or even visit an estate agent. If there is a surge in the number of visitors searching for properties or looking at homes in a certain area or in a certain price bracket, it could mean that there is a swelling of interest for these properties.
Knight Frank expect summer sales
Knight Frank have stated that 22% of searches undertaken on their site in May and June came from mobile devices. This is a rise from 14% for the same period in 2014 and a rise from 10% in 2013. This also says a lot about the changing nature of the way that people access the internet but the firm has said that interest in the market has continued even throughout what are more commonly quiet months in the sector.
The key months for selling homes usually run from March to the end of June and then in September and October but analysis undertaken by the firm suggests that there is an ongoing level of interest and demand.
Rupert Sweeting is the Head of Knight Frank Country and he released a statement, saying; “The increase in summer activity is a reflection on a number of factors including the popularity of holidays being taken in the UK and thus being able to see a house more quickly and the rise of the internet allowing holiday makers to browse their tablets and phones whilst relaxing” says Rupert Sweeting, head of Knight Frank Country. We’re seeing this happen again this year principally as the election made many buyers put their decisions on hold until after the result was known. As a result the market is six to eight weeks ‘late’. We already have a high level of house bookings going forward this month and in August.”