So, we’re well on our way into 2013 and it’s about time we gave you some 2012 stats! So, here goes...
It has been a record-breaking year in all areas of the business. More instructions; more sales; more lets; more everything, basically!
- In 2012, we put well over 1400 new properties on to the market.
- We agreed sales on over 760 properties
This is a 54% conversion rate. As a comparison, when we used to work on the High Street, our target was to sell 55% of properties and we regularly hit 52% conversion rate. And this was back in the ‘good old days’ in 2006!
So to be hitting 54% sales ratio in a market which is supposedly struggling, and considering we cover the whole of England & Wales, is an excellent return and proof, perhaps, that your chances of selling with Hatched, are the same, if not higher than your chances of selling with a high street agent…Now there’s a thought!
Interesting to analyse why though…We think that it is perhaps to do with the quality of our customers. We charge up front for the work that we do. And if you’re paying up front, however much it is, you are serious about selling. You're not going to shell out £240, to just put your house on the market. So therefore, we get better clients, who are more motivated to sell, rather than people who pay nothing to put their house on the market to ‘see how they get on’. i.e. those that aren’t bothered whether they move or not…
Secondly, we think that because of our completion fee, there is that extra motivation for us to sell the property. We follow up every single lead and every single viewing to get feedback, because we don’t make a profit unless we sell the property. Unlike other online estate agent who charge up front only – where is their motivation to sell the property?
In terms of growth in 2012, we now have 5 regional offices, with 7 more planned in 2013.
In 2012, we opened offices in Sheffield, Manchester & Birmingham, with already established offices in Exeter and head office in Hitchin. We still continue to cover the whole country, but we now have offices in targeted locations around England & Wales so that we can service customers more easily and more quickly.
Again, one of our USP's is that an employee of Hatched.co.uk will visit every single property we put on the market. It has become common place for other online estate agents to contract this job out to a DEA or similar. How, then, if a potential buyer was to phone one of these other online agents, would the person at the end of the phone know anything about that property!? They won't...
With Hatched.co.uk, if a potential buyer calls the office, then it is guaranteed that someone within one of the offices will have seen your house, therefore, making it easier for us to sell the property!
Offices planned for 2013 are Reading, Norwich, Newcastle, Chelmsford, Cardiff, London & Brighton. And we are only employing experienced estate agents within these branches to make sure that all of our customers are looked after by someone who knows how to sell houses and knows what advice to give and when.
We think this is the future of estate agency – a hybrid between high street agency; multiple 1st floor office locations across the country meaning costs are kept low, but covering much larger areas than a high street agent. Along with this, the ultimate marketing with lots of photos, floorplans and a description on all the major property portals giving you maximum exposure and maximum chance of finding a buyer. But all of this along with online estate agency fees (ridiculously low)!
Online estate agency is growing, and Hatched.co.uk are right at the front, leading the way. We might even have to think about altering our recent predictions about online estate agency if it carries on like this!
You can see each of the regional office pages at the bottom of the page.