Question: What is the worst kept secret in UK estate agency?

Answer: That things aren’t what they used to be?

Reply: That’s right, but don’t tell anyone and we will all be fine.

Am I the only one that is getting a little weary of this continual High Street versus Hybrid Model debate that seems to get avid readers of industry websites so exercised? I sincerely hope not, otherwise I think that the industry is indeed in big trouble. Whichever side of the debate you are on, could we at not at least all agree on the fact that the estate agency itself has changed over the last ten years in particular, and still continues to evolve?

What I truly don’t understand is why “change” per se is such a terrible thing, as if we were all to take our “Estate Agency Hats” off for a moment, wouldn’t it be true to say that almost everything else in our everyday lives has changed too over the past ten years? Particularly when it comes to technology and consumer behaviour – cue Smart TVs and Netflix (in particular) and exit Blockbuster; cue music downloading and exit CDs; cue Amazon (and alike) and exit high street shopping. I could of course go on and on, but I am sure that you get my general point by now. Shouldn’t the real question be – why should the sale of property in this country be any different and be immune to change?

Just what is the future I hear you ask? Well, I believe that just like every other retail environment that we can all think of, the real “battlegrounds” that differentiate competing companies will be:- a) Consumer choice, b) Pricing – but more importantly perhaps “ value” for the services that are offered, c)Customer Service & Product Knowledge, and d) Accessibility.

So to take each one of those areas listed above in turn:-

Consumer choice – Consumers are not one homogenous group, as they are all different with differing preferences and varying needs, so estate agents need to adapt by offering a wider menu of services. For example, some clients may require little interaction and a more DIY approach, and would prefer to seek lower fees as a result. Whereas, others both need and value your time and lengthy participation and more importantly perhaps, are prepared to pay for it. Why should both clients pay the same?

Pricing and Value – In my humble view, estate agents (whether large or small) should move towards listing the services that they offer using a menu format, which mirrors the way that we purchase many other goods and services at the present time. In simple terms, there should be several different service/price options that are flexible in nature. For example, should a client initially choose the basic fixed price option and then isn’t successful in finding a buyer – working with the agent, they then could move up to the next option and keep doing so until they are successful in selling their home. This way, they will feel that they have paid a fee that is proportionate to the service that they both wanted and received, and in theory at least feel a greater sense of value from their experience.

Customer Service & Product Knowledge – Negotiators not knowing anything about the properties that they are selling/letting is year upon year the most common general complaint against estate agents, and is probably the main area where as an industry we could/should improve…..and boy do we need to improve! There is simply no excuse for estate agency firms (large and small) to send their staff to show properties with absolutely no basic knowledge of what they are selling/letting.

Perhaps more importantly than what I think, the general public simply don’t understand why they are being expected to have any confidence in an industry where so often basic training and knowledge are so clearly absent. Would any of us put up with the same behaviour from staff in John Lewis?

Accessibility – This is an area where technology can and does improve the level of customer interaction- as we all access the internet differently and perhaps more fundamentally, the internet does not keep office hours. So step up Prop- Tech companies like Yomdel (live chat) and Callwell (customer lead control) for example – that primarily seek to more efficiently manage your company’s customer contact – particularly out of office hours.

In conclusion, it is time to stop fighting a somewhat narrow minded “phoney war” about High Street versus Hybrid, and just accept that we cannot hold back the tide of change – just work out how best we can embrace it and make it work for us.

The author of this article is Peter Nicholls – CEO of Ideology Consulting. For more information, go to www.ideologyconsulting.co.uk

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

Housing Ombudsman’s report demonstrates necessity of vibrant and growing private rental sector

Following a recent report from the Housing Ombudsman titled ‘Spotlight Report: Repairing Trust’, which revealed that 2024/25 witnessed a 474 per cent surge in complaints about poor living conditions compared to 2019/20, Propertymark has stated that this demonstrates the necessity for a vibrant and growing private rental sector. Referencing the UK Government’s ambition to construct…
Read More
Breaking News

Inheritance Tax Receipts raise £1.5 billion in two months

Inheritance tax receipts hit £1.5 billion in the first two months of the current tax year, according to data released by HM Revenue and Customs (HMRC) this morning. This is £98 million higher than the previous tax year, and continues an upward trend over the last two decades. Nicholas Hyett, Investment Manager at Wealth Club…
Read More
Breaking News

Propertymark Responds to Boiler Scheme Consultation

Responding to the Department for Energy Security and Net Zero’s Boiler Upgrade Scheme and Certification requirements for clean heat schemes consultation (England, Wales and Scotland), Propertymark has stressed the concerns of property agents that landlords are struggling to afford energy efficiency improving measures and warn that the scheme must evolve to protect the availability of…
Read More
bank of england interest rate
Breaking News

Industry Reaction to Bank of England’s decision to hold interest rates at 4.25%

Following a previous cut in May, the rate has today been held at 4.25%. This comes as a result of inflation easing slightly to 3.4% (May 2025), but remaining higher than the Bank of England target rate of 2.0%. The decision to hold the base rate by the Monetary Policy Committee was the result of…
Read More
Breaking News

Rents Climb as High as 17.4%

The latest market analysis by London lettings and estate agent, Benham and Reeves, has found that rents across Britain have surged by as much as 17.4% in some areas since the Labour Government adopted the proposed Renters’ Rights Bill which is likely to become law later this Summer after the Bill enters the House of Lords…
Read More
Breaking News

Breaking Property News 19/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Cloud-based practice management platform launches at Taylor Rose Taylor Rose parent AIIC Group rolls out cloud-based practice management platform AIIC Group (“AIIC”), the legal group behind law firms Taylor Rose, FDR Law and Kingsley Wood, is rolling out a new fully cloud-based practice management…
Read More