New research has revealed that sellers do not see benefit of ‘new and exclusive’ properties. Just 19% of sellers are happy to have their property listed on a single, smaller portal for the first 24 hours of their home being on the market. The survey, undertaken by an independent research specialist on behalf of Zoopla, reveals that vendors are overwhelmingly against restrictive clauses that specify exclusivity periods when marketing their properties for sale.

According to the study of over 2,000 vendors and house hunters across the UK, 65% of respondents would prefer for their home to be listed on multiple property portals, from day one, to ensure the largest possible audience. Less than a fifth (19%) of respondents stated that they would want their agent to list their home on a single, smaller, portal for its first 24 hours on the market, despite it offering “new and exclusive” properties to house hunters.

The research comes at a time when Zoopla listings have risen by 9%* year on year, whilst website visits sat at an impressive 58 million last month (May 2019). The survey also follows recent Zoopla research which showed that more leads are generated in the first hour after a listing launches than at any other point in its lifecycle.

Answer Responses Percentage
A smaller audience, getting a preview of “new and exclusive” properties for the first 24 hours, on a single portal 1,305 65%
The largest possible audience, from day one, on multiple property portals 384 19%
I don’t care 314 16%

 

Charlie Bryant, Managing Director of Zoopla, commented:

“These findings are loud and clear, on the whole vendors simply do not want their properties listed on a smaller portal that will limit the number of eyeballs. Strategies that seek at the start to limit a property’s marketing will prolong the time a property is on the market and limit actual numbers of all-important leads upfront. Properties that languish on the market are also at risk of selling at lower prices. In the current market, sellers cannot afford to miss the boat.”

*Comparing the number of live annual listings from May 2017 to May 2018 versus May 2018 to May 2019.