Estate agents are getting better at customer service – report

Estate agency customer service appears to be improving, a mystery shopper exercise has revealed.

Market research firm KnowYourMarket has unveiled its latest benchmark report comparing key market statistics from the first quarter of 2023 to the first quarter of 2024. 

The report aims to reflect how the market and estate agents' performance have evolved over the period.

Its latest report shows agents have scored better overall when it comes to criteria such as understanding customer needs, asking for customer contact details and responding within 48 hours.

The benchmark report delves into various aspects of estate agents' performance, including sales compliance and customer experience.

A series of key industry benchmark questions were determined to obtain average scores from a sample group of estate agents.  The scores were generated from the number of times the mystery shoppers were asked these basic, yet vital questions. By not asking these key questions, estate agent could be losing leads to their competition with even realising, KnowYourMarket said.

The report emphasises the impact of customer experience on brand loyalty and revenue generation, citing research that shows 86% of consumers are willing to pay more for a better experience.

Annabel Goulden, head of KnowYourMarket, part of nurtur.group, said: "Our benchmark report serves as a comprehensive analysis of the shifting landscape within the property market and sector. 

“By examining key metrics and our benchmarks, agents can gain invaluable insights into market trends and anonymised performance data across the country.

"Every interaction shapes the perception of a brand, making it vital for estate agents to deliver a seamless customer experience consistently. Our report aims to help agents understand customer needs better and implement strategies for ongoing improvement."

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