Over 4 in 5 consumers satisfied with property agent services: poll

Customers were happier with agents who used three or more real estate technology tools.

Over 4 in 5 or 85% of consumers were satisfied with the services rendered by their property agents in 2018, according to the Council for Estate Agencies’ (CEA) third public perception survey on the real estate agency industry. This is an increase from both the 2015 (79 %) and 2012 (81%) surveys.

Consumers across age groups whose agents used three or more forms of real estate technology tools during their property transaction were significantly more likely to have indicated that they were satisfied with their agents’ service.

The three-yearly survey involved some 1,500 respondents, comprising individuals who had engaged the services of a property agent and those who had yet to. Consumer groups surveyed also included landlords and tenants.

“The uptrend in consumer satisfaction with their property agents’ services is an indication that the industry has made steady progress in raising its professionalism and ethical standards, and improving the service to its clients. In addition, the survey results indicate that the use of technology has a direct positive impact on consumer satisfaction,” Lee Kwong Weng, CEA’s executive director, said in a statement.

In a result similar to the 2015 survey, property agents’ knowledge remained the most important dimension to consumers in 2018. Use of technology in property transactions was also said to be linked to consumer satisfaction. The 2018 survey was the first in which consumers were asked if their agents used any digital tools during the transaction. A third of respondents shared that their agents used at least one digital tool while facilitating the transaction. These tools included property apps with pricing calculators, information on property trends and property details, as well as electronic forms.