Editor's note: This brief was summarised by The Property AI Team from a report by PropertyWire. Read the original article for full details.
Estate Agents Urged to Focus on Buyers Amid Market Changes
Industry commentary analysing recent property market data suggests that estate agents may need to reorient their business models towards buyers rather than sellers as market conditions shift.
Recent figures from Zoopla indicate that buyer demand has fallen by 10% year-on-year in May. Meanwhile, Rightmove reports that buyer choice has reached its highest level in several years.
These changes in buyer demand and choice are prompting discussions within the industry about how estate agents should adapt their strategies. The data highlights a potential need for agents to focus more on attracting and supporting buyers in the current market environment.
This shift in focus may have implications for letting agents and inventory clerks, as changes in buyer activity can influence rental demand and property turnover.
Source: PropertyWire