Word of a new add-on for the Rightmove website has been announced, a service called Propcision. This service will be available as an add-on to the website for Chrome and Firefox internet browsers, and Microsoft Internet Explorer soon enough, and will allow users to view extra statistics on properties for sale. The tool is only available to use for properties for sale in London at present.
For buyers in the market, this must sound like an incredible tool, and will surely save so much time in your search, especially when all you want to find out is the estimated rental income of a property. However, if a property has been unfortunate enough to have had a couple of drastic price reductions or a sale which fell through, statistics such as these will also be on show for all to see. Of course, price reductions don’t always mean bad things. The conclusion that most people jump to when they see price reductions is that the agent has been struggling to sell it, which may lead to suspicions that the property is not in the best condition and needs some work, thus incurring more costs post-sale for renovations. This (obviously) isn’t always the case, and there’s often a story behind the marketing history.
To conclude, in our opinion, good, old-fashioned communication with the estate agent will always give you the best idea of the property, its surrounding area and why it’s an all round good purchase.
What are your thoughts?