Estate agent satisfaction skyrockets after record year for property sales… but are things about to change?
CHESHIRE, November 1st 2022 – Research from property advice website, HomeSellingExpert.co.uk, has revealed that estate agent satisfaction is on the up, with home sellers awarding them an average score of 7.2/10.
The rise in estate agent satisfaction could be thanks to the record year we’ve had for property sales and prices. The high satisfaction scores might be short-lived though as we start to brace for a possible housing market crash.
In England & Wales, estate agents from Yorkshire and The Humber came out on top with an average satisfaction score of 8.2/10, closely followed by estate agents from the North West (7.6/10) and Wales (7.5/10). Estate agents from the South East scored the lowest, with an average satisfaction score of 6.7/10.
Despite the recent results, estate agents still rank poorly compared with other sectors for their overall Net Promoter Score. Net Promoter Score (or “NPS”) is a widely used customer satisfaction benchmark that measures how likely your customers are to recommend your services or products to others. Based on our research, estate agents have an NPS score of 11%. To put this into perspective, their score ranks them well below law firms (32%), which is hardly the nation’s most trusted profession.
When it comes to complaints, delays (24%), lack of communication (23%) and shady valuation tactics (11%) are the most common. If you choose to sell with an online estate agent, you are 7x more likely to complain about lack of market knowledge (14% vs 2% for high street estate agents) and more than twice as likely to complain about poor quality photos (11% vs 4%). But surprisingly, a massive 42% of all home sellers said they were happy with everything.
Matthew Cooper, Co-Founder of HomeSellingExpert.co.uk, commented: “It’s a breath of fresh air to see estate agents receiving such positive feedback for a change. To see that over 40% of sellers have no complaints about their estate agent is certainly unusual.
However, this positive feedback is most likely a result of the super-charged market that home sellers have been enjoying since the pandemic, which has seen properties selling at record prices, and at record speeds.
Now the market is beginning to turn, it’ll be interesting to see if the usual frustrations that people have with their estate agents return.
Despite the general praise estate agents received in our study, the results still highlighted one thing that prospective home sellers should bear in mind: The chasm between the best and worst agents is still extremely wide. As the property market becomes tougher, having a great estate agent in your corner will be more important than ever.”
To access the original survey data, please follow this link.