Unprecedented times for the world of Estate Agency Unprecedented times for the world of Estate Agency

Unprecedented times for the world of Estate Agency

The impact of the current restrictions| Published in Company News on 31 March 2020 by our Marketing Team

We are certainly facing unprecedented times in the Estate Agency world. Whilst some transactions are still happening, this is very much down to the use of virtual viewings – with vendors providing photography or videos for us to share with potential buyers.

People who are moving to an empty property are still advised to proceed, whilst others are advised to delay the moving date. There is no need for anyone to panic, we must accept that everything will be delayed. Many estate agents and solicitors are working remotely to progress transactions as far as possible.

Banks and building societies have agreed to extend mortgage offers which provides time for buyers to pause until moving dates can be agreed in the future. A few lenders have withdrawn some of their higher loan-to-value products at this time – again as a potential buyer I would not panic. The mortgage market is a competitive world and, whilst it may appear frustrating at present, there will be solutions as the situation progresses.

Putting a property on the market is more challenging at present and whilst some agents are still attempting to do so, I suggest that it would be sensible to seek advice but delay going to market. Personally, I really believe that first impressions count, and waiting until professional photography, floorplans and EPCs are available is probably better.

Most Estate Agents are available to discuss your property and give appropriate advice. We have all our senior team on hand to provide any advice regarding any property matter.

We have our Residential, Lettings, Financial, Commercial, Surveying and Agricultural specialists all working remotely. Our dedicated sales progress team are available to ensure support through this delayed period is provided. Our maintenance team are on hand to support tenants.

If you need any advice, please feel free to contact us by phone on 0800 9177 404, leave a message and one of our team will call you back. Alternatively you can email us, or use Live Chat to talk directly to our team working from home.

Most importantly: please be patient, stay safe and continue to help our fantastic NHS.

For more company news and insights from Pygott & Crone, click here

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