Only 7% would use online agent but many unsure

Only 7% of landlords and tenants would definitely consider using an online agent.

However, while 56% would not use an online agent, 37% said they were “not sure”.

The findings emerge in the new 2014 survey of landlords and tenants.

A total of  8,000 landlords and tenants were questioned in the annual poll, carried out last month by a number of organisations, including LSL, Relocation Agent Network members, and Peter Knight’s Property Academy Group.

Knight described the 37% proportion as “very significant”.

He went on: “This is the sixth year we have carried out the research, so our data is comprehensive.

“However, we haven’t asked this particular question before so cannot compare the answers and know whether this is a growing trend, but I suspect it might be.”

The latest survey also shows that landlords and tenants find it increasingly hard to differentiate between agents, with landlords making their choice based on price.

Knight said: “More than half – 52% – of landlords negotiated the agent’s fee, with the proportion up 5% on the previous year, and 22% chose the agent with the cheapest fee, up from 19% in 2013.

“We also found that 35% did not pay any upfront fee compared with 30% last year.

“A clear lack of differentiation results in landlords only getting one or two agents to give them a valuation: 35% had just one agent round, 36% had two and 23% had three.

“Agents must differentiate in order to attract clients and this survey shows that only if agents stand apart from the pack will they be able to charge a full fee.

“It’s all very well for agents to say they’re professional and provide a quality service – but so does everyone else.”

Fuller results of the survey will be presented at this Friday’s Lettings LIVE event.

As of yesterday, 530 seats had been booked but there are still a few tickets left for the event at the Lancaster London hotel. Speakers include Tim Bannister, head of lettings at Rightmove, Alex Lowe of Google, and the inspirational Katie Piper.

Call 01372 370847.

For more information, go to:

http://propertyacademy.co.uk/events/lettings-live?inf_contact_key=2f37adf5976b6040bb7c8c5628d8e69d59ef6b693a57576690e8d4f1dd6873dd

 

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2 Comments

  1. Blue

    “It’s all very well for agents to say they’re professional and provide a quality service – but so does everyone else.”….. so true, and, the biggest missed opportunity in agency.

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  2. Robert May

    Knight described the 37% proportion as “very significant”. Hear Hear!

    At the risk of being accused of another subtle negative sell against Agents Mutual (it isn't) this is the true challenge that the professionals in the industry face; the 0verlap in the venn diagram between Tradition and Online. I am not sure if Hound got back from his real Ale and Cider fest in Dorset but he is one of those who have got the solution right if not necessarily his fee structre for tackling, what has to be regarded as THE MAIN ISSUE for traditional agency.

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