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LOCAL MARKET INSIGHT
Yes, you read that correctly, NO AGENCY FEES!
No Catch, no gimmicks, just a fantastic way of selling property!
Benefits for sellers & buyers.
We sell around 98% of our properties this way. Why?
Historically & even more so currently, around 30% of property sales nationally & 40% locally fall through!
Whilst there are several reasons why this happens, by far the most common is that the buyer(s) change their mind and simply pull out of the sale.
The way we sell using our secured sale method, virtually negates all ‘fall throughs’. In the last 2 years, our fall through rate is less than 2%.
We charge the buyer a reservation fee of 1% + VAT once an offer has been agreed. This fee is held in our client account and on completion of the sale, it becomes our commission.
However, if the buyer(s) should simply change their mind and pull out of the sale, they would NOT get their money back.
Our local competitors will tell you that selling property this way puts buyers off.
The reality is that the only buyers that are put off by this are the ones that are not committed to buy your property and in the main are the ones that have a very high chance of pulling out of the sale at ANY stage before exchange of contracts.
Of course, we have caveats in place to protect buyers from things that are not their fault. For example, if they are unable to obtain a mortgage or there is a problem with the survey that cannot be resolved then they would get their money back straight away.
Selling property this way brings peace of mind to the seller that their buyer is committed to buying their property.
Jukes Estate Agents, Changing the way Estate Agents work!
A property is on the market for a guide price of £350,000 – £360,000.
The buyer offers £355,000 plus the reservation fee.
The vendor accepts the offer of £355,000 and the buyer pays us a reservation fee of £3,550 which becomes our commission.
On completion of said sale the vendor will receive the full £355,000.
The buyer now has ‘skin in the game’ and will suffer financial penalties if they pull out.
Guess what? They rarely, if ever do!
National ‘fall through’ rates of property sales currently stand at around 32%. Rightmove have just released figures that show in the Harlow area it is OVER 40%!
We have been selling property this way for some time and whilst no method of selling is guaranteed, our ‘fall through’ rate is less than 2%!
Just as important is the fact that latest figures also show that over 25% of sales are being subjected to ‘Gazundering’. This is where just before exchange of contracts, the buyer drops their offer which leaves the seller in an awful predicament. Again, Selling property with our exclusive SECURED SALE METHOD means that ‘Gazundering’ is virtually non-existent because they would lose their reservation fee if the seller refused their lower offer, and they pulled out of the sale! Guess what? They don’t try offering a lower amount.
In conclusion, when you sell your property this way with Jukes Estate Agents, you can continue with your sale & onward purchase with the confidence that your sale is extremely unlikely to ‘fall through’.
Give us a call or use our form to get in touch today!