The overwhelming majority of vendors do not choose their estate agent based on fees, but on wider market expertise.
That’s the finding from a small survey of 350 movers by sales progression platform mio.
Its survey shows:
- Some 89 per cent of movers say their choice of selling agents was not based lowest fee;
- Market knowledge and trust are key to winning instructions;
- Half of movers use a conveyancer recommended to them by their agent;
- Some 75 per cent of movers strongly agree that communication is the key to good service;
- Generally movers embrace digital communication with only 17 per cent wanting face to face communication.
Mio says the findings suggest that for home movers, technology is playing an increasingly important role in terms of communication, the sharing of information and management of their expectations, which keep property transactions moving.
Closer collaboration and transparency with other operators in a transaction help too according to mio sales director Nick Ball.
He says: “With market knowledge and trust as the main consumer drivers for selecting an Estate Agency, agents should consider how to leverage these strengths at other stages of the process, so that business reputations aren’t damaged by slow, stressful sales transactions and high fall through rates.”
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Just to be clear, trust results from character and competence. There's little sign of the former in most agency marketing.
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