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TODAY'S OTHER NEWS

Achieving asking price and selling quickly are top criteria for vendors

A survey of property sellers has revealed that 'achieving the asking price' (43%) and 'selling properties quickly' (35%) are the most desired traits in an estate agent. 

They came in above 'best customer service' (9%), 'option to pay on completion' (5%) and 'lowest fees' (9%) in Property Road's survey of over 3,000 consumers.

The study, which took six months to compile, also found that 60% of people prefer to pay their estate agent on completion. 

This is compared to 20% who would prefer to pay upfront and a remaining 20% who have no clear preference.

The pricing sweet spot for upfront fixed fee offerings appears to be around the £1,000 mark, with 65% of respondents saying they'd be prepared to pay up to £1,000 as an upfront fee to sell a home.

Just 15% said they'd pay more than £1,000 upfront and 19% said they'd pay up to £100, suggesting that the very bottom end of the market is not appealing for too many upfront sellers. 

For those looking to pay to sell their home on completion, the figures were more split. Some 36% of participants said they'd pay up to £1,000, 32% said they'd pay up to £1,500 and a further 32% said they'd pay up to £2,000.

The study also looked into viewings, finding a preference for sellers carrying out viewings themselves (42%). Some 30% said they'd prefer a mixture of both DIY viewings and accompanied viewings, while 27% said they'd like all viewings handled by their agent. 

"No doubt [these] findings will be music to the ears of many high street agents who have long bemoaned the approach of online agents offering lower upfront fees and a perceived ‘lesser’ service," says Paul Jones, the founder of Property Road.

"What’s perhaps most surprising is that these results are based on respondents who were already considering online estate agents on our website. If even these sellers are preferring many of the things commonly associated with high street agents, it may help answer why the onliners haven’t gained the levels of market share that many predicted."

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