A report produced by conveyancing platform OneDome has revealed that digital functionality used by big-name consumer brands such as Uber and Amazon could be the key to high-street agents winning more instructions.
OneDome surveyed 1,000 homeowners across England and Wales, who were asked which consumer brand has the best digital experience. The respondents, aged between 25 and 64, who had either moved in the past three years, or were planning a move, were asked to choose between brands from the retail, leisure and transport industries.
Having selected their preferred brand, they were shown four areas of functionality pertinent to that brand and asked to consider which one (if any) they would like their estate agent to have, and whether implementation of that functionality would make the respondent more like to instruct that agent to sell their home.
The overwhelming majority (84%) felt that Amazon had the best digital experience and highlighted ‘progress tracking’ as the tool that they would most like their estate agent to have when selling their home. Other Amazon-esque functions that consumers cited as desirable when selling a property included a marketplace of agents, and recommendations for properties that ‘you may also like’.
In second place was Uber, and nearly half of the respondents who identified the taxi service as having the best digital experience, cited real-time updates as the functionality that they would like their estate agent to have.
The key finding for agents from the report is that 86% of those who selected ‘progress tracking’ as the most useful functionality for an agent to implement, went on to say that they would be more likely to instruct an agent who had this feature. 82% of respondents who chose Uber stated that they would be more likely to instruct an agent who had real-time updates.
Founder & CEO of OneDome, Babek Ismayil commented: “One of the biggest criticisms levelled at proptech companies is that they are solving problems that don’t exist. Our report looks at the type of technology that people are using in other areas of their lives and applying them to property. Sometimes, it not about solving an immediate problem, but providing an enhanced experience to ensure customers use you again and recommend you to their friends.
“It is not surprising that both of the top scoring tools are related to a customer’s visibility of their transaction. We live in a time when people are used to being kept informed, and the ability to log on and view the progress of their transaction in real time, makes people feel at ease.”