Only a fifth of buyers have used an estate agent as their first port of call when searching for a property in the past year, with almost six in ten relying first and foremost on portals.
Zoopla has released a report – Insights into New Homes Buyers 2018 – looking at what motivates people to buy a new-build in the UK, but which also unveils interesting data on the use of agents and ZPG’s competitors.
The report used a sample of 600 respondents who have either purchased a home in the past year or intend to do so, and found the preference for resale homes versus new-build properties was split almost equally at 36% and 37% respectively, with 27% claiming no preference.
The majority, 57% of respondents, said they would use a property portal as their first port of call when searching for a home, compared with 19% for agents. This was made up of 9% who visited a high street agency branch, 7% who went through an agent’s website and 3% who used agent leaflets that had come through the door.
Broken down by type of property, 75% of buyers said they used a portal when researching for a new-build, while 82% did so for resale homes.
Almost half, 46% of buyers, consulted an agent’s website when looking for a resale property, but the figure dropped to 37% when it comes to new-builds.
The research also had a dig at ZPG’s competitors, finding that 64% browsed new homes and 47% bought after visiting Zoopla. In comparison, 53% did their research and 36% purchased after visiting Rightmove, with the figure dropping to 24% and 17% respectively for OnTheMarket.
Looking at appetite for new-builds, the report found families were the biggest audience for developers.
Almost half (47%) of respondents with families had the strongest preference for this property type compared with just 14% among empty-nesters. Couples with no children didn’t have any preference.
Respondents did however raise some concerns about new-builds, with 37% saying they could be too small and 21% worried about the location. Looking at the positives, 37% claimed the sales process for a new-build was easier and 32% said they cost less to run.
Chris Browne, sales director at ZPG’s new homes division, said: “When it comes to building and selling new homes, a one-size-fits-all approach will not work for developers.
“Our research reveals that buyers at different stages of life have clear, and differing, preferences for new homes and therefore developers need to keep their target market at the forefront of their mind – both when building and marketing these properties.”
Surprise surprise,
I wonder how long it will be before the Yank’s start offering DIY listings on Zoopla? Can’t be long, surely…?
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You gotta laugh when a company commissions a survey and the results tell them they are the best.
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Over a million properties sold annually so let’s carefully select a tiny proportion of 600 people and tell our paying customers that 57% / 342 people all woke up one morning and decided to randomly visit a portal.
Had nothing to do with agents loyal, dedicated and hard work with local marketing, for sale and sold boards and leaflets through the door that prompted this consumer action of course.
Market research? Conditioning us for a fee increase more like.
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It wasn’t so long ago that the portals were saying 90% of searches started online….they are losing ground then!! Also, remember who’s content and data they are using to justify this research…wake up agents and empower yourselves! The clouds are rising on the horizon for increased costs….
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And 100% of our sellers visit office for i.d. a chat . Drop keys off etc. Can’t offer a genuine service without it . #fake stat
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You do realise if all the estate agents in the 1990’s and 2000’s had said no to rightmove et all we wouldn’t be where we are now.
#talkabouttheblindinglyobvious!
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Many of them did… for a surprisingly long period of time!
The Reps used the best tool in the box – threat of us of losing out to others.
Worked a treat – and we’ve been their prisoners ever since. Fed on the occasional mouldy crumb and stagnant water – yet we greedily accept it and wait with our arms outstretched for the next meagre offering to be forthcoming.
Many of us go days without so much of a sniff.
And that’s before we go off on the myriad of tangents over preferential treatment… blind-EYE turning… blatent *********** (credit: Jonnie)…
And we pay how much for this?
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Spot on PeeBee. It was the greedy corporates that started the mess. The day of the high street shopping has been dwindling for years since the PC arrived and today all industries are hammered by the smartphone convenience of look it up first before venturing out …. far to much effort to walk down the street and try and find something, more a case of I found it on line can I get it posted or do I want to view the quality first and I can park outside, run it, pay and run out and back home without the effort of walking around to find.
Agents shot themselves when they put internal pictures and floor plans on the web. Do I need to speak to the agent … no, I’ve seen it on the screen and I don’t like it. Shame realy as the pictures didn’t do it credit and the office staff never got to tell them about the ones about to come on or be on the hot list for new instructions…. the list is long.
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Woodentop – Thank you for the kind words – however compared to your post, my “spot on” effort is akin to my chucking a sausage at a frying pan from half a mile away and expecting dinner to be served in ten minutes!
You’ve nailed it, bud!
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Your post is more entertaining, any attempt by me and my family say my jokes just aren’t funny … I think they are wrong.
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Mr Shoffman
I’m frankly disappointed that you don’t see the value of this portal-centric data… TO MOST AGENTS. Or, put another way – to the Agents who produce the vast majority of successful property transactions in the UK.
The HIGH STREET AGENT.
Also aka the vast majority of EYEs audience.
How’s about you look at the figures quoted and, instead of picking something YOU AND THE PORTALS seem to think is a negative, you do some REAL number-crunching, refer back to previous portal claims and some of the comments above – and produce a positive piece.
IF that’s possible.
Rant over. For now.
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