Online agents and portals still transforming property market

The use of online agents and portals, especially for buyers and sellers, are becoming more and more popular, according to a recent report.

Zoopla recently released its “State of the Property Nation 2018” report. The online portal surveyed 660 estate and letting agents, in addition to 6,000 renters and property owners in Britain. Covering a wide range of topics within the property market, the survey included the role of technology in the buying, selling, and letting processes.

Online agents and portals are transforming the property market. In this digital age, it’s important the market continues to seek further innovation and online advancements.

The use of online agents is on the up

Zoopla’s survey found that 24% of sellers in the past year used an online estate agent, like Purplebricks, which has doubled compared to three to five years ago. Additionally, almost half of those surveyed said they’re likely to use an online agent next time they sell their property. With more sellers interested in using an online agent in the future, 65% of those currently active in the market said they’d consider using it next time.

Online agents aren’t only having an impact on the buying and selling world. They are also on course to take up to half of the lettings sector with 44% of landlords stating they are likely to think about using an online letting agent next time. This is a 10% increase from 2017.

Even though more people are using online agents, that doesn’t mean traditional estate agents are becoming obsolete. Estate agents with an online offering are popular options. Zoopla’s survey found sellers were most satisfied with the service provided by these kind of hybrid agencies, so estate agents need to remain competitive and adapt to the expanding proptech culture.

Online portals are being used for more than just property searches

A whopping 95% of people use a portal as part of their property search, while 75% of sellers think it’s important for their property to be listed on one of these sites. The UK’s largest portals are Rightmove and Zoopla, which are also the two main sites sellers want their property to be listed on.

Many have started to use online portals for more than just searching for homes and researching areas. They’re now also being used to help manage properties and household bills after homebuyers move in. The online portals are putting a focus on developing services to support homeowners throughout their property’s entire lifecycle and showing how technology and innovation can improve the housing sector.

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