Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.
Sellers Demand Faster Communication from Estate Agents
A new survey by Street Group has found that estate agents in the UK are under increasing pressure to respond to client communications within 24 hours at nearly every stage of the property sales process. The research, which surveyed 1,830 current and recent home sellers, highlights that rapid response times have become a crucial factor in how sellers choose their agents.
According to the findings, 85% of sellers expect estate agents to reply to initial enquiries about selling their home within 24 hours. One in five respondents said that waiting longer than four hours is too slow, while only 4% considered a response time of more than two working days acceptable.
The expectation for swift communication extends beyond initial contact. Sellers now anticipate updates within 24 hours throughout the sales journey, including feedback after viewings, updates on buyer interest, notifications about offers, and answers to questions after a sale has been agreed.
Impact on Agent Selection and Industry Practices
The research suggests that sellers are increasingly comparing agents based on how quickly they respond, both when selecting an agent and when working with multiple agents. This trend reflects broader changes in client expectations, influenced by experiences with digital services such as instant messaging and e-commerce platforms.
The pressure for faster response times comes at a time when the property industry is also dealing with regulatory changes affecting lettings, as well as evolving technology and marketing practices. Communication speed is now emerging as a competitive differentiator for agents, alongside traditional factors like fees and local market knowledge.
The data points to a shift in service expectations across the UK property sector, with clients demanding the same immediacy from estate agents that they receive from other digital services.
Source: PropertyWire