Research from an all-in-one property platform suggests homebuyers do not sufficiently understand the processes which can contribute to a fast and efficient sale.
With buying timelines stretched due to the race to complete before the stamp duty holiday deadline, buyers and sellers do not appear to understand how faster journeys can be achieved.
To try and gauge the current level of consumer knowledge, WiggyWam asked recent homebuyers how important they thought it was for vital property information to made available up-front rather than after payment.
Just 18% of homebuyers say that a lack of up-front information in any way jeopardised their most recent purchase.
Meanwhile, 73% of homebuyers report that they have little interest in paying a small amount of money (up to £300) to ensure that all of the information that can facilitate a fast sale is ready as soon as they approach a vendor, and just 33% said they would be more likely to use an estate agent who does provide this up-front information than one who does not.
The firm says this final is ‘most concerning’, highlighting the need for improved consumer education around the complex practice of buying and selling.
Silas J. Lees MRICS, chief executive officer of WiggyWam, comments: “When we consider the average person moves home once every 23 years, the results of this survey are not surprising. How would a buyer or seller even know there is a better way of doing things?”
“This is where we see a big competitive advantage for those agents who take the time to educate their clients in the tools and techniques that are available to speed up the house buying and selling process, over and above those agents who don’t.”
To assist agents who wish to help their clients learn as much as possible, WiggyWam has unveiled a learning centre where consumers can access information which will ease their journey through what can be a very complex process.
Lees concludes: “After working with thousands of people across the country, we find a little education on unfamiliar territory can be transformative in helping people along the way, particularly when that information comes from an independent third party. Best of all, this won’t cost agents or their clients a penny.”