There has been a 2,206% rise in fall through activity since the beginning of June 2020, according to the latest fall-through analysis by BriefYourMarket.com.

The study, compiled using the marketing provider’s on-market property data platform, illustrates how the rise in activity has significantly increased fall-through rates.

BriefYourMarket.com’s CCO Richard Combellack said: “This is the unpleasant side of the recent market activity. Obviously, as the stamp duty incentive encourages more buyers and sellers to market, it is also an inevitability that an increased number of people will be impacted by their sale falling through.

“With greater activity comes increased probability of heartache for many, as more financial qualification needs to be processed, chains become lengthened, and conveyancing firms come under greater pressure.

“Although, if the recent reports from Zoopla are anything to go by and indeed there is likely to be more than 100,000 additional property sales expected during the first three months of 2021, agents need to ensure that they have all the right tools in place to get their services in front of committed sellers in 2021.”

Following on from a soft launch of BuildYourMarket last year, CEO Damon Bullimore, along with notable industry backers including former LSL director, David Newnes, have been working with several estate agencies to further develop and enhance the platform with the objective of providing agents with a data-driven on-market prospecting tool.

Bullimore commented: “This automation saves our customers time and effort by communicating accurate and timely communications at various stages to on-market homeowners.”

Richard Combellack added: “What’s really exciting about this product is that agents get a full holistic view of all on-market activity in their area. Build integrates with an agent’s database, cross-referencing known vendors; our customers are often stunned at how many of the local population are already in their datasets within their CRM. So, if you conducted a market appraisal but subsequently lost the instruction to a competitor, Build automatically identifies these lost instructions and can trigger email or print communications directly. Agents can reduce their prospecting costs and be highly- targeted in their approach to continuing conversations where they left off as opposed to sending generic canvassing material.

“The on-market part of the platform is really  powerful. It gives agents total control of their budget at branch level, so each individual agency can build their own multi-channel canvassing strategy to target secondary instruction opportunities at key intervals such as four to 16 weeks on market, price reduction +two weeks, fallen through and withdrawn. In addition, the technology includes dynamic telephone tracking which enables the agents to see every lead generated from the campaigns and tracks the Return on Investment against valuations to instructions in CRM records.”