Realtors need to be more proactive, say homebuyers

A new survey of homebuyers has revealed that a more proactive approach and better communication are the areas most in need of improvement among UK estate agents.

Estate agent, Nested, surveyed UK buyers who have bought a home in the last six months to assess their estate agent’s performance and where they could best improve.

Overall real estate agent performance

On a scale of 1 to 10, with 1 being exceptional, 15% rated the performance of their realtor during their last sale at 5, the highest individual score.

However, the good news is that 51% rated their agent between one and five, with 9% saying they were exceptional. That said, 8% also said they thought their agent’s performance was terrible.

Request price performance

When it came to the asking price achieved, buyers were evenly split between the two. 47% said their agent didn’t meet the agreed-upon asking price. However, 39% did and a further 14% said their agent got a higher than asking price for their property.

94% of buyers said their agent advised them on what asking price to set, but only 37% said they advised them to lower their asking price when they were having trouble selling.

Areas of improvement

Nested also asked what areas of improvement homebuyers would like to see from their estate agent, with the responses listed in the following order:-

More proactive during the transaction to speed up the process.
Better or more frequent communication
Better overall customer service
More information on the evolution of their sale
A higher percentage of the asking price achieved
Better quality of property listing and/or photos of their home
More help on what was needed from them to move the sale forward

Alice Bullard, Commercial Manager at Nested, commented: “Realtors across the country have done an outstanding job during the pandemic, negotiating Covid protocols while serving up a tidal wave of market activity to help get the nation moving.

“However, not all real estate agents are created equal and our latest Seller Experience insights show that choosing the right agent can dramatically improve your experience selling a home and the outcome you get.

“Price will always be a determining factor and the best agents will advise you on a realistic asking price based on current market conditions and then go above and beyond to meet it, or in some cases exceed it.

“But it’s clear sellers see the added value of an estate agent beyond the price they get and consistent, clear communication and a proactive approach to selling are some of the key areas they appreciate. most.

“This is not surprising considering that it takes an average of 320 days to sell a home and the vast majority of that time is spent advancing the sale to completion once the offer is accepted. period during which it is still likely to fail.

“It’s at this difficult stage that a good agent really shines, keeping the seller calm while doing their best to move the sale forward. So you want to be absolutely certain that the agent you choose doesn’t just include sales progression as part of their service, but they’re great at it.

“Perfecting that push to the finish line was one of the most important aspects when building the Nested proposition, but unfortunately not all companies share the same passion for completion.”

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