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TODAY'S OTHER NEWS

Age and history of an estate agency "is of little interest to clients"

A survey of 2,000 existing and former house sellers in London suggests that relatively few regard the age and history of an agency as important when considering who to instruct.

The survey, conducted for London estate agency Portico, says good communications is the quality that 62 per cent of past and present vendors regard as most important. 

Another 20 per cent say a strong track record of good results is the most important while only 12 per cent say age and heritage are of prime importance.

The firm claims that the average age of what it calls “the top 25 London estate agents” is 84 years. 

Portico itself was founded in 1818 and background notes released with the survey say that amongst “top” London agents only Chestertons and Felicity J Lord are older.

  • Charlie Snell Rethink Marketing

    This finding is interesting, particularly when you think that so many agents (most?) start their 'about us' blurb on their website with 'we were founded in 19blahblah'! What the client really wants to know is how you can help them sell/let their property for the most money, quickly. An agent's ability to do that in 1916 bears little reflection on their abilities in 2016!

    Algarve  Investor

    Indeed. Don't get me wrong, I think history, heritage and tradition are massively important, but sellers will want to know how the agent in question can get their home sold/let rather than if they were around when Dickens was roaming the streets on one of his famous walks or one of the first railways were open.

    On the other hand, the fact that Portico have been operating since 1818 is really quite impressive and shouldn't be dismissed out of hand. But it's not the be all and end all, especially if the agency can't now do the business in 2016.

     
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    Communication and, specifically, the feeling that you're in a process.

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    I would suggest that the main benefit is that the agent has survived the market over the years and is therefor not a 'fly by night'. Always providing they can still do the job!

  • Lord Elpus

    Hearing that your company has been around for 180 years is of little comfort when coming from the mouth of a 20 year old.

    Estate agency is a people business, and surely what ought to count is the experience and knowledge of the individuals within that business.

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    Being friendly also goes a long way! Nice website by the way Portico - it’s nice that a London estate agent feels brave enough to rebrand and not shout about being born BC!!

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