We all understand the importance of due-diligence in the property profession. Not only is it essential to making intelligent and successful investment decisions, but it can also be time consuming.
Time is incredibly valuable and due diligence is unavoidable. However, in order to give yourself a broader idea of the price history of the property you are trying to research there are actually some really useful search engine plug-ins you are able to use to make your due diligence less time consuming and more efficient.
Plug-in Google Chrome
Property tracker allows you to monitor the performance of a property since it has been listed on Rightmove. It conveys price reductions and dates in which the property was added to the site. Closely analysing these details could allow you to get better idea on what price you may be able to negotiate. Price drops often indicate a motivated seller and a motivated seller is usually much more negotiable.
A discrete arrow is placed after the listing to indicate whether a property has increased or decreased its asking price.
Compatible with rightmove.com
Plug-in Google Chrome
Property log is a similar add-on to property tracker but with a slightly different interface. Instead of an arrow being present after the listing, a table is added showing both the price changes, and the dates in which they were changed. When looking for property on rightmove.com my partner and I personally prefer to use Property Log as it organizes the data comparables more clearly and accurately.
Compatible with Rightmove
Property Investigation Tool
Plug-in Mozilla Fire-fox
The Property Investigation Tool produces an analysis of the ROI, yield and rent of a property. It compares the sales and rental comparables within 1/2 a mile to generate these figures as well as showing you the sales comparables nearby. These features are included with the paid premium features of this add on. The basic features that are included on this plug-in are changes in the property's price.
Compatible with Zoopla and Rightmove
Of course these add-ons are helpful, but that is not to say you shouldn't do your own due-diligence on a property you are thinking of a purchasing. If you do not do your due-diligence correctly and as accurately as you possibly can, you will get stung!
Thanks for reading!