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Solving stress & building reputational value 

14th October 2018

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Ahead of this year’s Negotiator Conference & Expo, we asked over 1,300 homeowners what factors caused them stress when they last moved house. We also asked them what the estate agent did to make the moving experience more positive. Our aim was to identify what the key challenges are, what agents are doing right, and how the industry can innovate to make moving more rewarding for all parties.

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What makes moving stressful? 

The most common stressor – affecting 34% of respondents – was the paperwork associated with buying a property, including warranties, stamp duty and insurance admin. This was closely followed by the process of moving personal belongings from one property to another – 33% of people cited this as a stressor.

26% of respondents said the costs associated with buying a home added stress to the process. Other headaches included setting up utilities and other services (24%), delays to the move-in date (24%) and cleaning and/or redecorating the new home (24%).

What are estate agents already doing really well? 

We asked homeowners what factors contributed to great service from the estate agent handling their most recent property purchase.

  • 28% said friendliness made for a positive experience
  • 27% cited ease of contact as a marker of good service.
  • 15% of respondents said they liked the fact that their agent was open and honest with them.

Enhancing the agent-homebuyer relationship.

Though homebuyers and estate agents don’t have a typical supplier-client relationship, an increasing number of plug-in services are available to help agents improve the home buying experience.

A whole host of tools, from do-it-yourself portals to concierge services exist for this purpose. But why would agents want to use them?

There are multiple potential benefits. Firstly, today’s buyer is tomorrow’s potential vendor. A 2017 government study found than 9% of vendors chose their estate agent on the sole basis that they’d used them to buy the property they’re selling. 14% chose their agent based on a recommendation, and 53% based their choice on the agent’s reputation.

But there are shorter-term benefits too. With the right tools, agents can speed up the sale, reduce cost and, importantly, introduce new revenue streams. Such is the case with Tili, our free digital home move assistant. Tili dramatically reduces the admin involved in setting up essential home services, like energy and broadband. And when an agent introduces their customers to the service, they can earn commission.

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What tech innovations to home-buyers really want? 

So what does the estate agency of the future look like? Is it all bells-and-whistles smart tech and virtual offices? Not necessarily. Adapting our technology to our customers’ needs doesn’t have to mean keys delivered by drone. 

We asked home-buyers what innovations they’d like to see from their estate agent. We offered suggestions such as smart home kits and voice-controlled applications, but the top choices demonstrated an appetite for simple tech that eases the stress of moving. 

The three most popular choices were:

  • The ability to do everything online, from initial search to purchase (18%)
  • The ability to contact the agent outside of regular working hours (16%)
  • A digital home move assistant, provided by the agent, that helps buyers set up essential home services such as energy and broadband (16%).

The appetite for these services is even greater in the younger demographic. For those under the age of 35, the desire for the above initiatives rose to 29%, 24% and 26% respectively. 

16% of people said they'd like agents to offer a digital home-move assistant
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 “Huge opportunity”

Of the survey findings, Ian Crowther, Commercial Director at Tili said: 

“It’s encouraging to see agents getting the fundamentals of great service right – friendliness, openness and ease of contact. There’s still a huge opportunity to use emerging technologies to go so much further.

"If buyers are finding paperwork a hassle, if they’re struggling with the logistics of moving, or stressed about getting the services up and running in their new home, what strategic relationships can agents forge to ease the burden? The answer is plenty. 

"For example, Tili partners with some of the UK’s leading estate agents to improve the home move experience, and to introduce new revenue streams. Tili helps people moving home set up all their essential services in one go, online, before they move in. And when they use it, their agent earns revenue. This works for both buyers and sellers, so it’s double the opportunity for the agent.”

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Become a Tili partner

 
 
 
 
 
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NEG TALK:

‘REPUTATION, REPUTATION, REPUTATION: ENHANCING THE AGENT & HOME-MOVER RELATIONSHIP’

With a strong focus on achieving '2020 Vision' and using reputation-building to thrive in an ever-changing marketplace, Ian will share Market Intelligence from his experience as the Commercial Director behind leading utilities solution to the home-move industry, Tili.

 

Negotiator Conference & Expo | The Court Suite -  29th November 2019  

Join us for insight, takeaway tips and inspiration.

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Tili are delighted to return as the headline sponsor to this year’s Negotiator Conference & Expo, as well as lending our support to the Negotiator Awards as a gold level sponsor.