The importance of flexibility

As we head into relatively unknown waters with respect to the current market conditions following the aftermath of Brexit I want to firstly remind everyone that the market continually goes through cycles. We experience the highest highs but when it dips it can go low, way low. After a couple of weeks of panic as news report after headline rumours banks moving their headquarters out of London to more favourable overseas locations it’s really no surprise that many of us could start to panic but should we? Many years ago when I made the decision to carve out a career in property I made my decision on one thing, people will always need to move. And to this day 17 years on that has never changed. I have seen the highest highs of a booming property market twice over now but with that said I have also seen first-hand the effects of a falling market too. Following the recent reports I want to send out the same message that any professional experienced agent will also be preaching – don’t panic! I know that’s easier said than done especially when you may have little to no experience of the market but I promise you this will be the best attitude you can adopt. With that thought still ringing in your ears I want to lay down some other advice that will stand you in good stead to ride out this current storm, be FLEXIBLE yes be flexible simple yet poignant advice. When the market takes a slide many Vendors and Landlords despite good solid advice being delivered by their agents who want to work with you to ensure you are able to sell or rent your properties bury their head in the sand refusing to accept that their precious investments are now worth less than they were six months ago! And yes it’s a bitter pill to swallow, of course it is but with a little bit of flexibility we can help you to get the best results we can within the current market conditions. So if you get an offer through that falls a bit short of your original expectations then pay careful attention to it rather than dismissing it altogether without some further consideration. If a lower offer is really a problem then if the property is on for sale take it off and wait it out, if it’s on for rentals then I would consider the impact of waiting for a better offer to come along, every week that the property sits vacant you are losing money so it may be better to get someone in on a lower rent even if it’s just for six months, you can then revisit at the end of that contract and renew at a higher rate more reflective of the market at that time.