Estate agents to modernise their services in order to stay relevant:

January 18, 2017

Matthew Dendle, Head of Architecture, Dezrez

“Over the weekend, news broke that the number of first-time buyers taking out mortgages has reached its highest level since 2007. This growth will of course mean an increased reliance on estate agents. Typically aged between 23 and 40, these tech-savvy first-time buyers will no doubt expect their estate agents to be fully up to date with technology in order to keep them regularly updated on property offers and viewings, among other benefits. This presents a huge wake up call for agents who may still be using traditional means of promotion and selling. In order to appeal to this younger demographic, estate agents must modernise their operations, and bring themselves (and the industry as a whole) into the digital age. In fact, research from Dezrez found that 67 percent of the British public think estate agents do not use technology to its full advantage, while 44 percent believe estate agents need to embrace technology to survive.

Historically, estate agents have been slow to accept and adapt to the rapid development of technology in the industry. Even today, only forward-thinking agents are making use of technology with cloud-based software, enriching their online offerings by linking with relevant apps such as Google Maps, or offering virtual property tours. If mainstream estate agents are going to remain relevant to an increasing number of first-time buyers they must embrace the opportunities that digital technology offers, enriching their customer services and providing a greater buying experience overall.”

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