2014 EA LIVE GET AHEAD. STAY AHEAD.
Property Academy
SPONSORED BY
Nicky
Stevenson
Property Academy Gro
up Membership Resea rch 2014
The Property Academ y Group Membership The Property Academ y chairs bi-monthly meetings for property professionals who are looking to learn an d evolve, improve their business, and dis cuss current issues with like-minded and experienced people. The Groups are desig ned for business owners and directors.
Please visit the Proper ty Academy stand today or contact Nicky Stevenson for more information on m embership:
01372 370847
nicky@propertyacadem y.co.uk @propacad
MMARY
U EXECUTIVE S
014 DECEMBER 2
4506 Responses
The Property Academy 2014
How did you research agents before inviting them to provide a valuation? I visited their website
42%
I visited property portal websites
18%
I visited their office
26%
I called them
37%
I did not undertake research before inviting them to provide a valuation
18% 0
10
20
30
40
50 The Property Academy 2014
60%
The Property Academy 2014
How did you research agents before inviting them to provide a valuation? I visited their website
42%
42%
I visited property portal websites
18%
I visited their office
26%
I called them
37%
I did not undertake research before inviting them to provide a valuation
18% 0
10
20
30
40
50 The Property Academy 2014
How did you research agents before inviting them to provide a valuation? I visited their website
42%
I visited property portal websites
18%
I visited their office
26%
I called them
37%
I did not undertake research before inviting them to provide a valuation
18% 0
10
20
30
40
50 The Property Academy 2014
Did you visit the office of your selling agent?
Yes, prior to selling
35%
72%
Yes, during the selling process
37%
of sellers visited your office No I did not visit the agent's office
We are getting to that time of year when many of us up in the dark an get d return home in the dark.
By December su
nset is before 4p
m daily. During this time of dark ness we are all sti ll go ing about our usual routines, in fact m any of us will have stepped it up a ge with Christmas ar ar ound the corner and will be hitting high street mor th e e. during these ‘dar k’ times your bu siness looks brig and inviting with ht promotions and information illuminating the gloominess and drawing cust thro
ugh your doors?
omers
Light Panel Disp
lays could be th
e answer.
Now is the time, order your light pa nels and have th installed before em your competitor s do and before yo realise that you ha u ve been left in th e dark! Contact our team with a photo of yo ur shop front and dimensions of yo the ur window and we wi ll prepare a phot realistic mocku o p of how we can br ighten up your window display. This is a no oblig ation free servic e that will enlighten you to our produc ts and light up yo ur day with a glo price! wing
28%
MID WES MID WEST FOR EVERYTHING WES
MID
Contact us today
0
10
facebook.com/m idwestshrewsbury @midwestdisplays
20
01743 465531
30
MID WEST
www.midwestd isplays.co.uk sales@midwestdisp lays.co.uk
40
The Property Academy 2014
How many estate agents did you ask to give you an appraisal/valuation?
1
•
2
•
3
•
4
•
24%
New instructions Available stock Sales agreed Price reductions Time on market
29%
35%
8%
• 2%
5+ 0
10
20
30
40 The Property Academy 2014
How many estate agents did you ask to give you an appraisal/valuation?
•
1
•
2
• 3
• 4
•
5+
• 0
Sales agreed Price reductions Fall throughs Withdrawn stock Full property stock Time on Market 24%
• Updated daily
29%
• 14 35% months data archive • Can be exported
8%
2%
10
20
30
40 The Property Academy 2014
Did you choose the agent who offered the lowest fee?
22%
78% Yes No
The Property Academy 2014
Pay what you want
30%
The Property Academy 2014
Once you have instructed your estate agent, how quickly would you expect your property to be marketed? Instantly
6%
Within 24 hours
37%
Within 2-3 days
}
36%
Within 7 days
43%
19%
15%
Within 10 days
2%
Within 14 days
1%
Within 1 month
2% 0
10
20
30
40 The Property Academy 2014
Which websites do you expect your property to be marketed on?
Rightmove
94%
Agent's own website
83%
80
84
88
92
96
100 The Property Academy 2014
What is most important to you when an agent markets your property online?
Main image
17%
Number of images
13%
Quality of images
54%
0
10
20
30
40
50
60 The Property Academy 2014
Two thirds of sellers that do not have a floor plan were not offered a
33%
67%
The Property Academy 2014
Percent of sellers that would like a floor plan
25%
75% would like a floor plan
The Property Academy 2014
On a scale of 0-10 how likely are you to recommend your estate agent to a friend or colleague? (0 not likely, 10 very likely)
The Property Academy 2014
PASSIVES
DETRACTORS
0
1
2
3
4
5
6
% Promoters
-‐
% Detractors
7
=
8
PROMOTERS
9
10
Net Promoter Score
The Property Academy 2014
Promotors are loyal enthusiasts who will repeat and recommend thus fuelling growth (scoring 9 - 10)
Passives are satisfied but unenthusiastic customers who are vulnerable to competitive offerings (scoring 7 - 8)
Detractors are unhappy customers who can damage your brand and impede growth through negative word of mouth (scoring 0 - 6)
The Property Academy 2014
Detractors - 24%
NPS = 26
Passives - 26%
Promotors - 50%
The Property Academy 2014
On a scale of 0-10 how likely are you to recommend your conveyancer to a friend or colleague? (0 not likely, 10 very likely)
The Property Academy 2014
Detractors - 29%
NPS = 13
Passives - 29%
Promotors - 42%
The Property Academy 2014
The Property Academy 2014
Detractors - 0%
NPS = 73 Promotors - 73% Passives - 27%
The Property Academy 2014
•Individual •Team •Department
+
The Property Academy 2014
92%
The Property Academy 2014
How often did you search for a property?
Once a week or less
19%
2-5 times a week
10%
26%
Everyday / Several times most days / Several times every day
55%
0
15
30
45
60 The Property Academy 2014
Where did you first see the property you are buying? Newspaper
4%
Portal eg: Rightmove, Zoopla
68%
For Sale Board
3%
6%
Agents own website
2%
7%
Agents window
2%
Email from agent
4%
Phone call from agent
6%
Visit to the agent’s office
4% 0
10
20
30
40
50
60
70
The Property Academy 2014
How long did you look at properties for sale before you first contacted an estate agent to view a property? Less than 24 hours
19%
1-3 days
20%
A week
3%
18%
1 month or longer
42%
0
12.5
25
37.5
50
The Property Academy 2014
Did you visit individual estate agents’ websites to view properties for sale?
3% 37% 63% Yes No
The Property Academy 2014
Are you a landlord/do you own another property as an investment? No
76%
1 in 4 buyers have additional properties in their portfolio Yes, 1 other property
15%
Yes, 2 other properties
5%
Yes, 3 other properties
2%
Yes, 4 other properties
1%
Yes, 5 or more other properties
2% 0
10
20
30
40
50
60
70
80
The Property Academy 2014
Are you a landlord/do you own another property as an investment? No
76%
Yes, 1 other property
15%
Yes, 2 other properties
5%
Yes, 3 other properties
2%
70% likely to win business from your archived data
Yes, 4 other properties
1%
Yes, 5 or more other properties
2%
0
10
20
30
40
50
60
70
80
The Property Academy 2014
Which of the following services have you considered/would you consider using by recommendation from your estate agent?
Conveyancer/Solicitor
64%
ÂŁ1m+
Mortgage Broker
28%
Removal Firm
30%
0
10
20
30
40
50
60
70 The Property Academy 2014
Which of the following services have you considered/would you consider using by recommendation from your estate agent?
Conveyancer/Solicitor
64%
Doubled Annual Revenue
Mortgage Broker
28%
Removal Firm
30%
0
10
20
30
40
50
60
70 The Property Academy 2014
Agents believe that 0 - 10% of homeowners actually understand the conveyancing process
The Property Academy 2014
Refer customers, earn commission - Easy peasy!
ÂŁ20,000 The Property Academy 2014
How did you choose your Conveyancer/Solicitor?
Estate Agent Recommended
39%
Friend Recommended
7%
20%
Previous Customer
32%
Local Advertisement
1%
Searched Online
8% 0
10
}
9% 20
30
40 The Property Academy 2014
Please put these descriptors in order of importance to you when selecting a conveyancer/solicitor Really Important
Quite Important
Not That Important
Really Not Important
Good communicator / rapport
74.00%
24.00%
2.00%
1.00%
Proactive
81.00%
18.00%
1.00%
0.00%
Problem Solving
77.00%
21.00%
2.00%
0.00%
Professionalism
78.00%
21.00%
1.00%
0.00%
Price
40.00%
50.00%
10.00%
1.00%
Local knowledge
38.00%
36.00%
22.00%
4.00%
Recommended
47.00%
41.00%
10.00%
2.00%
Experienced
73.00%
24.00%
2.00%
1.00% The Property Academy 2014
Please put these descriptors in order of importance to you when selecting a conveyancer/solicitor Really Important
Quite Important
Not That Important
Really Not Important
Good communicator / rapport
74.00%
24.00%
2.00%
1.00%
Proactive
81.00%
18.00%
1.00%
0.00%
Problem Solving
77.00%
21.00%
2.00%
0.00%
Professionalism
78.00%
21.00%
1.00%
0.00%
Price
40.00%
50.00%
10.00%
1.00%
Local knowledge
38.00%
36.00%
22.00%
4.00%
Recommended
47.00%
41.00%
10.00%
2.00%
Experienced
73.00%
24.00%
2.00%
1.00% The Property Academy 2014
Contents
Part 1 Contact & Page: 2-3
Part 2 Question 1 Page: 4
Part 2 Question 2 Pages: 5-7
Part 2 Question 3 Pages: 8-18
Case Study Pygott & Crone Pages: 18 -26
Why we should win Page: 27
Videos Page: 28
virtual reality auctions
The Property Academy 2014
The Property Academy 2014
The Property Academy 2014
Key points •
Consumers are visiting agents websites and portals to ensure they are up to date – they are knowledgeable with 36% browsing online everyday
•
Use the data available to you (such as HMT, NPS and RM INTEL) to make better decisions internally, and to be authoritative on your appointments
•
Innovate, if you stand still you are going backwards
The Property Academy 2014
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