Boost in demand for high street agents, Zoopla reports

Seventy-nine per cent of home sellers instructed a high street agent in 2019, up from 63% the year before and the highest rate from the past decade, new research by Zoopla revealed.

Data from the property portal showed the volume of completed transactions overseen by high street agents was also on the rise in 2019, increasing to 66% from 51% on the previous year.

Zoopla’s latest chapter of State of the Property Nation, its nationally representative survey of 6,000 consumers and more than 650 agents who operate across the sales and lettings landscape, showed that high street agents were most popular in the South-West, with 83% of vendors having used a traditional agent in 2019. East Anglia and Wales followed behind with 82% of sellers instructing a high street agent across the same period.

Scotland saw the lowest proportion of sellers opting for a high street agent (64%), although Zoopla also highlighted this still represented almost two-thirds of sellers in the country.
 
Zoopla suggested the boost boost in demand for the high street agent had been met with a ‘renewed sense of optimism’ – with more than half of agents (52%) believing more properties will come onto the market in 2020, a stark increase from those surveyed in 2018 (39%).

Zoopla chief commercial officer, Andy Marshall, commented: “Estate agency as an industry is increasingly diverse and the emergence of onlines and hybrids have certainly given the market a new dimension.

“That said, with research indicating that high street agents are steadfast in their appeal, it suggests that all operators are working to differentiate and add value to consumers – whether it’s through local knowledge, sage market insight or competitive fees.
 
“We are also seeing agents actively diversify the services that they offer vendors. Not only does this reap financial rewards for their businesses, but also provides a one-stop shop and eases pain points for buyers and sellers.”

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