Knowledge is still power
Even though the huge majority of property buyers now begin their search for a new home on the Internet, a strong web presence is surprisingly not the first thing on sellers’ minds when awarding a marketing mandate.
That’s the finding of a recent survey by Rightmove.com, the UK’s top property website. This poll revealed that in fact, sellers are most likely to pick an agent who can demonstrate good knowledge of the local area and current market conditions ahead of anyone else.
Indeed, it revealed that for 74% of sellers, local knowledge is the most important thing they look for when shortlisting an agent. This was the clear leader in spite of the survey giving sellers the ability to state more than one answer.
Also of major significance was the agency’s visibility or brand (41%), the agent’s expertise (28%) and the range of services the agency/ agent is able to offer (28%) – such as access to a mortgage originator.
The research was conducted by Rightmove as part of a campaign to help agents that use its listings portal to differentiate themselves from their competitors and ultimately win more mandates.
The company’s commercial director Miles Shipside says: “Agents need to know which parts of their service offering are most important to sellers and landlords when they’re trying to win mandates, so that they can communicate these to potential clients.”
In the rental market, a separate Rightmove survey found that staff expertise is the most important factor (97%) for landlords who are choosing an agency to manage their properties. This was followed by a recommendation from another landlord (94%), and the fees the agency charges (94%).