Stamp duty: 3 reasons estate agents shouldn’t panic

The stamp duty thresholds have changed again, marking the end of the initial stamp duty holiday for homes over £250,000.

This time there will be no extension beyond the final deadline on 30th September. But there’s also no need for estate agents to worry. Here’s why.

1. Why does the property market remain busy?

While buyer demand moderated as the 30th June deadline approached, market activity is still high compared to ‘normal’ levels last seen in 2019.

In fact, Zoopla’s most recent House Price Index Report showed that demand continues to be fuelled by a combination of factors. Not least the stamp duty savings still on offer for buyers of homes worth up to £250,000.

This includes the growing range of mortgages available again to first-time buyers, as well as the ongoing ‘reassessment of home’ and ‘search for space’, as homeowners continue to rethink their lifestyle.

For estate agents, this is where the right estate agent software for sales can help teams stay close to active buyers and keep momentum high.

2. Which buyers can still enjoy stamp duty benefits?

Despite the end of the initial stamp duty relief, there are still some buyers who will still benefit.

Remember, the threshold at which stamp duty is paid is now set at £250,000 until 30th September. Then it will drop to the pre-pandemic level of £125,000.

This timeline gives a window of opportunity for buyers of properties under the threshold to take advantage of savings of up to £2,500. And savvy agents should grasp this chance to bolster sales over the coming weeks.

It’s also important to note that there is still lots of activity from first-time buyers who can buy a home priced up to £300,000 without having to pay any stamp duty at all. This will continue to be the case, even beyond September when the tapering comes to an end.

A good estate agent CRM can help agents identify buyers who are still able to benefit, then match them with suitable properties before the window closes.

3. How can estate agency software help agents stay prepared?

There’s no question that the stamp duty holiday has had an impact. But with market activity still at a record high, it’s now more important than ever that agents are adequately prepared.

This includes choosing the right estate agency software to make sure you’re on top of your property portfolio and marketing, so you can match the right buyers to the right properties. Quickly and efficiently.

Here are just a few ways Alto can help your agency do just that:

Instant property matching

Our cloud-based property management software offers instant matching, with the results of matching properties showing as you change criteria, saving you and your customers valuable time.

With instant matching, there’s no need to ‘search’ or wait for results. Simply update the applicant’s details and the advanced filtering will allow you to fine-tune your properties to the right prospects.

Time-saving marketing tools

Helping to ensure you reach the right target audience using the best channels, our software comes with a host of tools to promote properties more effectively. These include:

Built-in design tools so you can create marketing brochures and templates for window cards at the click of a button.
Exportable property lists to quickly send property matches to potential buyers via email, text, or post.
Portal and lead integration tools, which allow you to seamlessly upload new properties to Zoopla, Rightmove, OnTheMarket and all other major property portals. You can also import new leads from your own website and portals.

For agencies handling high demand, connected estate agent software can help keep listings, leads and marketing activity moving without adding more admin.