Estate agents are increasingly under pressure to respond to client enquiries within 24 hours across almost all phases of the property selling process. This is according to a new study by Street Group.
A survey of 1,830 current and recently listed home sellers found that fast response times have become a key factor in choosing an agent. The study results underscore sellers' growing expectations regarding the accessibility and efficiency of their service providers in the real estate sector.
Importance of Response Times
The study revealed that the expectation of a response from the agent within 24 hours is not only prevalent during initial contact but extends throughout the entire sales cycle. This ranges from the initial valuation and viewing appointments to negotiations and contract processing. The study participants rated prompt communication as an essential component of high-quality agent service.
The surveyed property sellers stated that quick feedback is not only perceived as a sign of professionalism but also builds trust in the agent's work. Long waiting times, conversely, lead to frustration and can significantly disrupt the business relationship. This suggests that agents who cannot meet these demands might suffer a competitive disadvantage.
Implications for the Industry
For estate agencies, this means that investments in optimised communication structures and, where necessary, staffing are required to meet the increased expectations. Digital tools and automated response systems could play a supportive role here, but they must not entirely replace personal contact, which continues to be highly valued.
Street Group states that agents who proactively respond to this development and are able to ensure consistently fast responses can position themselves competitively. The study concludes that service quality, particularly communication efficiency, plays an increasingly significant role in deciding on a particular agent.
- —65% of respondents consider a 24-hour response crucial.
- —40% would not recommend an agent due to slow communication.
- —Pressure on agents tends to be higher in urban areas.
- —Customer priorities are increasingly shifting from purely cost aspects to service quality and efficiency.
