New Zoopla research reveals that low fees and local presence are not the most important factors for property sellers when choosing an agent. Rather surprisingly, the research shows that transparency and openness about fees and the selling process are factors that were ranked highest by vendors.
In the survey of 6,000 respondents were questioned on vendor requirements and how agents might need to adapt their messaging to win more instructions in 2019. Their responses show that low fees and a local presence aren’t the most important factors to sellers.
Transparency about fees and the selling process was deemed most important, with 56% of respondents saying that is their most important consideration when listing their property with an agent. Price and value for money were jointly voted the second most important factors for vendors. The agent’s local reputation ranked in 8th place in the sellers list of priorities, while low agency fees secured an even lower score in 9th place.
Charlie Bryant, Managing Director of Zoopla, said, “Winning instructions is the top priority for estate agents across the country in a challenging and competitive marketplace, and our research reveals what consumers are looking for when selecting an agent to sell their home.
“Two themes emerge from the top five items listed by consumers, and in good news for many of our customers, low fees don’t feature high in their list of priorities. First is the overall offer from the agent covering transparency on fees, value for money and the level of marketing proposed for the property. Second is the property valuation and the ability to negotiate the best price.
“Our findings also show vendors want their money to work harder for them in the current climate. 44% of consumer respondents told us that the amount of marketing an agent will do is extremely important to their appointing them. Zoopla has invested more than any other portal in advertising over the past five years and has also increased the spend on this year’s above-the-line advertising campaign by 23% compared to last year. Our range of products, services and insights ensure that all our customers benefit from the Zoopla advantage.”
Click here to see Zoopla’s State of the Property Nation Report on Zoopla Advantage.