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The market is busier than ever at the moment, with agents and tenants alike trying to complete their transactions before Christmas arrives. The final four weeks of play this year will see the final push from agents to get their ducks in a line and as many clients under offer as possible before the break.
With the last few weeks of December and the first few weeks of January particularly slow, it is important companies have good pipeline already set up now to start working in the New Year. As business starts to draw to a close, this will be the last chance for many companies to win new business over the next month as new clients in the form of potential tenants and landlords are unlikely to do anything in the Christmas, New Year period.
Many agents see the property market as a 10 month year, with August and the first couple of weeks in December/first couple of weeks in January being 2 periods which are particularly slow. The two main reasons for this are; firstly, the amount of people involved in the process, to complete one deal there needs to be the incoming tenant, landlord, two agents and two solicitors, if one party is away the transaction is unlikely to complete or move forward. The second reason is down to landlords not wanting to bring anything new to the market at a time when a lot of people are away on holiday or tenants are unlikely to be starting their search. Landlords like to bring their property to the market at the busiest time of the year, the first couple of weeks of February and at the beginning of September in particular.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.