Part exchange provides lifeline to Estate Agents

Estate Agents can boost transactions by taking on part exchange properties, reports New Homes Part Exchange, which, through its network of local agents provides a part exchange service to housebuilders across the UK.

New Homes Part Exchange, which works closely with housebuilders and estate agents to keep the market moving, has seen business double since the beginning of 2008. As housebuilders increasingly offer customers the option of part exchanging their existing properties with their new home, a growing number of re-sale properties are entering the market.

New Homes Part Exchange, which takes full responsibility for these homes’ sales, secures three valuations from different, local agents. Once a realistic price has been agreed for a quick sale, it proceeds with a multiple agent instruction. In 2008 to date, it has sold over 520 properties as a result of part exchange.

Gaynor Hookings, Marketing Director of New Homes Part Exchange, comments:

"Part exchange has come into its own as the property market has stagnated, proving to be a lifeline to agents and housebuilders alike, keeping the market moving and allowing agents to benefit from the resulting instructions.

"We establish good and fair working relationships with reliable local agents, returning on a number of occasions to instruct part exchange sales. Working closely with agents we are currently averaging 4.2 weeks to find a buyer from the initial marketing of the home, and just six weeks from reservation to exchange in the current market."

Estate Agent Moving On in Plymouth, which has received a number instructions from New Homes Part Exchange since the beginning of 2008 is an advocate for this market enabling tool, estimating that a growing percentage of its sales are now made up of part exchange properties alone.

Paul Curtis, Partner at Moving On, comments:

“We have a strong relationship with New Homes Part Exchange, who value our local expertise and can rely on us to provide a fair and realistic price to ensure a sale is achieved as quickly as possible in the current market.”

For more information, log on to Nhmh.co.uk.