Estate agents are missing out on potential clients by not responding to enquiries promptly, new research suggests.
A study by lead generation firm Homeflow revealed that the average response time by agents was 229 'business' minutes, which is almost four hours.
The slowest response time was 2,260 'business' minutes, or almost five working days.
Only half of the agents who responded to the sales enquiry did so within an hour, and just two agents were fast enough to acknowledge the opportunity within a 4-minute window.
Response times to portal leads on rental properties were better than to sales enquiries, at 70% versus 40% responding within an hour.
However, the average response time was only marginally shorter at 218 ‘business’ minutes.
This, Homeflow said, suggests 39% of estate agents are missing out on potential clients by not responding to enquiries promptly.
Nik Chotai, managing director of Homeflow, which is offering a 60-day free trial of its Lead Manager product, said: “Home sellers now place a higher value on response time than ever before.
“It's the key to winning instructions in a competitive market, and it's essential for building trust and loyalty in a digital age where time is of the essence."
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