How to ensure our noisy neighbours remain just that!

Estate Agency is no stranger to coming under the microscope from all quarters!

The media fan the flames and the consumers jump on the bandwagon! I can’t say I entirely blame them! Estate Agency has been its own worst enemy for years, with its image of gelled hair, slick suited wide boy salesmen with a smug sense of their own self importance. I have spent my entire working life in residential estate agency and dare say worked with a few of the type described! But thankfully those days are behind us.

People are the one constant in this industry

Technology has clearly played a massive part in this with new innovations, especially in the last 10 years or so coming thick and fast and as a result the way we conduct agency in the UK has changed too – not just in terms of technology but because people and their expectations have changed and “people” are the one constant in this industry.

Research at the end of 2013 showed the average age of homebuyers was now almost 35. Again it is safe to assume the vast majority of this demographic are “tech savvy” yet it is fair to say that many in our industry have had to be dragged to the party kicking and screaming! They hardly adapted their business models from what has worked historically – forget optimised landing pages, responsive websites or the use of social media platforms, however few agents will look at you with a straight face and say the industry doesn’t need to do a better job!

One fundamental flaw in the online business model and it is a huge one

So where does this leave traditional high street agent’s? Are they about to go the way of the proverbial dodo? And be replaced en masse by online agents? The answer is a resounding no! Online agency has been on the property landscape for a lot longer than some would have you believe and let’s be honest they haven’t exactly been a game changer. Don’t get me wrong, we should not under estimate the challenge- some online agents are using technology very well and there is no doubt there is a niche in the market for them, which will grow if high street agents do not wake up and smell the coffee. However there is one fundamental flaw in the online business model and it is a huge one.

A home is simply not like any other commodity you can buy and sell over the internet.

Estate agency is about real people and the real journey’s they take

A computer algorithm does not know if those kitchen work tops were fitted correctly, what is underneath that newly fitted carpet or that the third bedroom used to be a garage! It most likely doesn’t know the motivations of the seller, upcoming planning applications in the area that may affect future values and saleability and it certainly cannot negotiate or feel a client’s pain or anguish! Good high street agents have built up an almost encyclopaedic knowledge of their patch- the people and I am afraid you can’t simply just Google this wealth of knowledge.

Estate agency is about real people and the real journey’s they take when buying and selling a property. Each transaction has its own story. When negotiations become fraught or difficult- agents can be the much needed independent, cool head to prevent emotion taking over which can easily result in a deal collapsing.

It is not all about cost – it is about value

Low cost online agents will only ever highlight that by cutting the estate agency commission consumers will see a higher net sum from the transaction- but they fail to mention that savvy buyers may well attempt to seize the opportunity to discount their offer based on this knowledge and the sellers limited negotiation experience.
What irks me more than anything is most of these online/low cost agents don’t seem to realise or more probably care that they a cheapening the image of estate agency, making out anybody can sell a property, it is easy and attempting to devalue the excellent work many agents do. In the USA and around Europe agents or realtors charge anything from 3% to 7% and are highly respected. It is not all about cost – it is about value and there is a significant difference between the two.

As dedicated property professionals we give our time so clients do not need to give more of their own than is necessary. We are compensated for this service as are millions of professional offering their expertise to clients in thousands of industries and I make no apology for valuing my worth – although it is at a lot lower fee than the online fraternity would like you to believe!

That is good agency in my book

Working with a high street agent exposes clients to far less personal liability, greater security and a saving of time which cannot be quantified financially. Last week we sold a property in less than 24 hours of instruction – it didn’t even reach the internet as we knew a buyer from our own database that would be a perfect fit, rang them, arranged to show them round the following day and received a full asking price offer! That is good agency in my book.

High street agents should be able to look at themselves in the mirror, ask tough questions of their own business model and methods and if we don’t like what we see take steps to rectify the issues. We still have time but the window of opportunity is closing.

Savvy agents will know it is about educating sceptical consumers and being able to demonstrate their value through exceptional personal service, adopting transparent, modern business practices and communicating the differences and benefits in a way that will influence decision makers. Do that and we can ensure that online agents remain nothing more than a minority noisy neighbour.

Alex Evans

You May Also Enjoy

Rightmove logo
Breaking News

Ten years on: More first-time buyers moving to cities while the coast stands still

New ten-year analysis of the property market shows that more first-time buyers are looking to move to cities, while the coast has seen no growth in new buyers First-time buyer demand to move to Great Britain’s 50 largest cities (excluding London) is up by 16% on average over the last ten years, with Dundee topping…
Read More
Breaking News

Homeowners in England and Wales overvalue their properties by an average of 16%

Homeowners in England and Wales are overestimating the value of their property by an average of 16%, according to new figures. Data from Quick Move Now compares homeowner estimates with formal estate agent valuations and is broken down by both region and property type. Overall, homeowners overvalue in every single category.   Regional breakdown Region…
Read More
Visual blemishes on Roads due to service upgrades
Estate Agent Talk

Emergency Sidewalk Repairs: When to Act and Who to Call

Sidewalks are the unsung heroes of city infrastructure—quietly assisting tens of millions of footsteps every day. But when they crack, disintegrate, or shift all of sudden, they might quickly turn out to be volatile liabilities. In a town like New York, in which pedestrian site visitors are constant and belongings proprietors are legally chargeable for…
Read More
Breaking News

Reapit report reveals agents’ long-term market confidence amid legislative challenges

Despite the significant challenges posed by a shifting economic landscape and the largest wave of housing legislation in decades, estate and letting agents remain steadfast in their confidence about their long-term future in the industry. According to the first Reapit Property Outlook Report 2025, covering the full breadth of sales and lettings agency opinion countrywide,…
Read More
Breaking News

Owner-Occupiers Drive Resilient Commercial Property Market

Buying Becomes 37% Cheaper Than Renting The latest Commercial Property Demand Index from specialist property finance expert, Rangewell, reveals that while investor appetite across the sector held steady in Q2, strong levels of owner-occupied commercial mortgage activity are helping drive market performance, as business owners increasingly move from renting to buying their long-term premises for…
Read More
Breaking News

One year of Labour: Property market performance review

Investors left waiting for planning reform and incentives but majority plan to increase real estate allocation   Biggest failures: Lack of incentives for developers and investors, and ineffective planning reform Top priorities: Planning reform, tax incentives, and attracting international capital Where opportunities lie: Data centres, warehousing & logistics, and later-life housing Real estate debt is…
Read More