tmgroup property report: Why do your clients move home?

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14 April 2016

ben harris tmgroup

tmgroup sales & marketing director, Ben Harris

What makes your clients want to move home? Upsizing, downsizing, marriage, divorce? The question, “What is the primary reason for selling your house?” was posed to more than 5400 consumers who had moved home in 2015 as part of the Home Moving Trends survey.

The survey, conducted at the end of 2015 by the Property Academy in partnership with tmgroup, was designed to reveal what home movers thought of their property transaction and included a number of questions which asked them to reflect upon the experience they had had with their conveyancers.

In the study, it was revealed that three quarters of respondents were moving home for positive reasons, such as up or downsizing; out of their own personal choice for a bigger or nicer home; because they had received inheritance; or because they were simply buying property as an investment.

Conversely, the remaining quarter of respondents were moving for what can be categorised as negative reasons, such as ill health, bereavement or divorce. See the full list of reasons respondents could choose from below:

Negative Positive
Bereavement Downsizing
Crime rate Growing Family
Divorce/Separation Relocation by choice
Financial Pressures Investment
No choice but to sell Upsizing
Job relocation (without choice) Wanted a bigger/nicer home
Retirement/Ill Health Schools

tmgroup sales & marketing director Ben Harris said:

“Understanding your client’s frame of mind is vital to making sure you help make their property transaction a positive experience. Although the majority of respondents were moving for positive reasons, the process of moving house can be stressful enough in itself so, if your client is going through difficult times (ill health, bereavement or divorce for example), it’s vital you tailor your customer service towards them.

“This could involve making sure that you’re contactable or are providing them with regular updates so they don’t have to chase you.”

“Home movers told us they wanted to see good communication skills from their conveyancers so offering clients the human touch will help boost retention and encourage them to recommend you to friends and family.”

Read the full report

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