Homebuyers demand transparency when referred to estate agents
The latest research from GetAgent Exchange has revealed that while referrals to estate agents are now commonplace in the home moving process, buyers and sellers want these referrals to come with transparent data and comparison options, not simply a single recommendation.
The survey of more than 1,000 recent homebuyers found that 90% had been referred to an estate agent by another professional, such as a mortgage broker, solicitor, or buying agent. This underlines how deeply embedded referrals are in the property transaction journey.
When asked what matters most to them when being referred, sellers ranked local reputation highest (28%), followed by communication (20%) and the ability to secure the best selling price (18%). Speed and fees were also important considerations (17% each).
Homebuyers also revealed how they assess whether a referred agent meets their priorities. The majority rely on their initial impression when first meeting or communicating with the agent (39%), while 34% turn to online reviews and ratings, and 27% research the agent’s local track record of sales.
Crucially, transparency is key. Almost half (44%) said it was extremely important that they are given independent information to validate a referral – such as reviews, sales track record, and fee comparisons – with a further 25% stating it was quite important.
In fact, 81% said they would prefer to see their referred agent presented alongside alternative agents for comparison, rather than being introduced to just one option. The most reassuring factors for sellers were a transparent comparison of fees (28%), a verified local sales track record (23%), and reviews from previous clients (20%).
Finally, 68% stated they would be more likely to proceed with a referral if it came via a platform that not only partnered with local agents but also provided transparent data on all local options.
Colby Short, Co-founder and CEO of GetAgent.co.uk, commented:
“Referrals are a vital part of the property market, but our research shows that home movers don’t want to take them at face value. They want reassurance through independent data, comparison, and transparency. GetAgent Exchange provides exactly that.
For buying agents, it means they can maintain trust with their clients by referring them to high-performing selling agents outside of their core markets, while also giving their clients the transparency they demand. For selling agents, it delivers motivated vendor leads who are far more likely to proceed, because the introduction comes with the data to back it up.”
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