The Voice of the Agent 2024

Welcome to the Voice of the Agent 2024

The findings of this report offer a comprehensive look into the present conditions of the UK property market, effective marketing practices, and the burgeoning influence of proptech.

We surveyed 841 estate agents across the United Kingdom from 18th December 2023 to 3rd March 2024, to garner their insights on the current state of the market. Our report reveals the industry's collective perspective, including the sentiments of home movers, landlords, and tenants.

We want our industry to be better, to get the respect it deserves for its hard work on behalf of homeowners, landlords, tenants, and everyone touched by the homes we live in.

Our survey report takes a big step towards understanding mental health and discrimination within our industry. It shines a light on the experiences of estate agents, examining support systems and highlighting challenges related to workplace well-being and equality.

By spotlighting these issues, the report aims to encourage a dialogue that can lead to meaningful change, ensuring a healthier, more inclusive professional environment that recognises the value of every individual in the property sector.

A special thanks to our partners at TwentyEA, PVS Media, ProperPR, Kerfuffle, Lemon and Lime Interiors, DCTR and Opening the Gates. Your support made this second survey happen. To those who completed the survey, sharing their insight, you have been invaluable in painting a picture of the market's current landscape and the trends shaping our industry. We truly appreciate your insights and extend our heartfelt gratitude for your time and input.

Finally, to you the reader. There’s a lot to get through here either in one long read or by digesting in parts. However you do it, I hope you enjoy it as much as we have creating it. Now grab a beverage of your choice, and let’s listen to The Voice of the Agent 2024.

Our warmest wishes,

Simon, Emily, Meg and Steph

PS. If you’d like a bespoke presentation on this data simply drop me a line, as this is just the top line results.

Newcastle 18thSeptember

London 24thApril

Lincoln 22ndMay

Portsmouth 17thJuly

Manchester 26thJune

TL:DR

This executive summary encapsulates the extensive survey findings across several critical areas in the real estate sector, ranging from market confidence, agent dynamics, and mental health challenges to demographic profiles and discrimination experiences.

Market Confidence and Outlook shows a white-knuckle roller- coaster of consumer sentiments from 2017 to 2024, with notable dips during economic uncertainties and subsequent recoveries. This reflects the market's sensitivity to broader economic conditions and policy changes. The detailed insights into agent expectations for 2024 reveal an optimistic outlook, suggesting confidence in market resilience and growth opportunities.

How do you think the value of the property/dwelling in which you live will have changed 12 months from now?

Net Confidence 9th July 2017 to 31st March 2024 (Higher House Price minus Lower House Price)

Sales and Estate Agents Trends & Market Outlook highlights fluctuating vendor interactions and property value perceptions in 2023-2024, underscoring agents' optimism for market expansion and stable property values despite economic challenges. This section also delves into vendor behaviour, fee structures, and the strategic insights agents possess that influence their market activities.

Sales: In 2024, do you expect the number of VENDORS you work with to increase, stay the same or decline?

In 2024, do you expect the PROPERTY VALUES in your area to increase, stay the same or decline?

Lettings and Letting Agents Trends & Market Outlook emphasise the sector's growth and the optimistic forecast for 2024 despite existing challenges. The focus on rental value increases, diverse sources of property advice for landlords, and the dynamics of fee structures for different services reveal an adaptive and cautiously optimistic letting market.

Lettings: In 2024, do you expect the number of LANDLORDS you work with to increase, stay the same or decline?

In 2024, do you expect the RENTAL VALUES in your area to increase, stay the same or decline?

Concerns and the Competitive Landscape reveal the primary anxieties affecting agents, such as economic uncertainty and regulatory compliance, amid a highly competitive field with an average of nearly 12 competitors per agent. The anticipated shift towards personalised and traditional services over digital- only models suggests evolving market preferences.

Marketing Insights and Trends underscore the significant investment in marketing, particularly digital platforms, to align with consumer expectations and drive business growth. The survey points out the challenges faced in content creation and the strategic investment in marketing to foster business expansion. You’ll also see the marketing investment of all agents and the marketing mix of the growth agents.

What percentage of your firm’s income do you spend per annum on marketing?

Voice of the Customer on Estate and Letting Agents showcases the essential services valued by vendors, landlords, and consumers. It highlights a discrepancy between agent assumptions and actual client priorities. The insights suggest a need for tailored service offerings and improved agent- client communication to meet divergent expectations.

Proptech Utilisation and Expectations and Adoption and Impact of AI in Real Estate sections reflect the sector's digital transformation. They underscore a significant reliance on technology for operational efficiency and the desire for further advancements in AI to automate manual tasks, pointing toward a future where digital solutions are integral to the real estate industry's evolution. It also shows that adoption of proptech and AI is far from universal at this stage.

Which of these named data proptech companies do you know of and/or use

Have heard of it Have heard of it and use it occasionally

Have heard of and use it regularly

Mental Health Challenges and Coping Strategies Among Real Estate Professionals and Discrimination Experiences and Reactions in Real Estate address the personal and interpersonal challenges within the industry. These sections highlight the prevalence of mental health issues and discrimination, emphasising the need for many more supportive measures and inclusive practices to ensure a healthy and equitable workplace environment.

In the past year, have you faced any challenges related to your mental health?

Which, if any, of the following types of discrimination have you ever personally experienced at work from colleagues or clients?

(average from client and colleagues)

I

Prefer not to say

Report experiencing discrimination personally

have not experienced any discrimination personally

Demographics, Professional Engagement, and Network Affiliation in Real Estate provide a demographic snapshot of the industry, noting a predominance of male, middle-aged professionals in senior roles. The significant engagement with professional memberships and networks, especially those supporting gender diversity, reflects an industry moving towards inclusivity and professional development.

Together, these summaries offer a comprehensive overview of the real estate sector's current state and prospects, identifying areas of optimism and concern and the critical role of technology and professional standards in shaping the industry's trajectory.

Key Stats

Optimism

“Net” is the percentage who think there will be an increase minus those who think there will be a decrease in volume or prices

Vendor/Landlord Volume

• In 2024, do you expect the number of vendors/landlords you work with to increase, stay the same or decline?

o Estate A gents Net Increase – number of vendors: 78%

o Letting A gents Net Increase – number of landlords: 34%

House/Rent Prices

• In 2024, do you expect the house/rental values in your area to increase, stay the same or decline?

o Estate A gents Net Confidence: -3%

o Letting A gents Net Confidence: 53%

• How do you think the value of the property/dwelling in which you live will have changed 12 months from now?

o Home movers (next 12 months) Net Confidence: 20.1%

o All Consumers Net Confidence: 8.5%

Average fees

• Estate agents: 1.3%

• Letting agents (fully managed): 11.3%

• Letting agents (let only): 8.7%

Marketing investment

• 10.4% invested in marketing (excluding portals)

• Portals investment 62%, marketing investment 38%

Methodology

A comprehensive survey was conducted to gather insights from real estate and letting agent sector professionals. The survey comprised 74 questions covering various real estate and property industry aspects.

Sampling: The survey targeted individuals in the real estate and letting agent sector. Participants were recruited through multiple channels, including social media postings made twice per week over 11 weeks, distribution by partner organisations, and press coverage in reputable industry publications such as Property Industry Eye, Estate Agent Today, The Negotiator, and Letting Agent Today. Additionally, promotion was facilitated by agency attendees of the "30 Years of Marketing in A Day" event.

Data Collection: The survey was conducted online and was open for responses from December 18, 2023, to March 3, 2024. Participants were invited to complete the study voluntarily during this period.

Response Rate: 841 responses were received during the data collection. Some questions achieved a 100% completion rate, while the survey achieved an overall completion rate of 63%, indicating high participant engagement.

Third-party data: A multifaceted approach was adopted to conduct primary research and gather insights from professionals in the real estate and letting agent sector. This approach involved a combination of primary research conducted on behalf of We Are Unchained by Opinium and desk research utilising YouGov Profiles and TwentyEA Insights. Additionally, data from the IPSOS Mori Veracity Index was incorporated to provide context on the credibility of survey findings.

Primary Research by Opinium: Opinium is a reputable market research agency known for its rigorous methodologies and reliable data collection techniques. They conducted primary research on behalf of We Are Unchained, utilising robust survey methodologies to gather representative samples and consumer insights.

Desk Research using YouGov Profiles: YouGov Profiles is a powerful tool for conducting desk research and accessing detailed demographic and psychographic data on target audiences. It was utilised to supplement the primary research findings, providing additional context and insights into the attitudes and behaviours of real estate industry professionals.

Desk Research using TwentyEA Insights: TwentyEA Insights is a leading provider of real estate data and insights, offering comprehensive analysis of market trends and industry dynamics. Desk research using TwentyEA Insights helped enrich the primary research findings by providing valuable market intelligence and contextual information.

Incorporation of IPSOS Mori Veracity Index: The IPSOS Mori Veracity Index is a trusted source for assessing public perceptions of the credibility of different professions and institutions. Data from the Veracity Index was incorporated to provide insights into the perceived trustworthiness of professionals in the real estate and letting agent sector, adding a layer of credibility to the survey findings.

Data Analysis: The collected data was analysed quantitatively to derive meaningful insights and trends within the real estate and letting agent industry. The responses were tabulated, and statistical methods were employed to analyse patterns and correlations among the survey variables.

Limitations: While efforts were made to reach a diverse pool of participants, the survey's sample may not fully represent the entire spectrum of real estate and letting agent professionals. Additionally, response bias and self-selection bias may have influenced the findings. However, broad outreach and promotion strategies were taken to mitigate these limitations.

Executive Summary

Market Confidence

The Unchained House Price Confidence Index from 2017 to early 2024 reveals a volatile yet insightful trajectory of housing market sentiment. Starting with moderate optimism, confidence dipped notably in mid-2020, attributed to economic uncertainties from the COVID-19 pandemic, the cost of living, and, depending on your perspective, Brexit. A robust recovery peaked in early 2022, driven by post-pandemic economic revival and housing market incentives. However, a subsequent downturn into 2023 reflected concerns about Russia’s invasion of Ukraine, the energy price shock, rising interest rates and economic challenges, with a tentative uplift in 2024 suggesting market stabilisation.

Distinctly from January 2024, data highlights greater confidence among individuals planning to buy or sell within the year (home movers) compared to the broader adult population (18+). This demonstrates a proactive stance among home movers, buoyed by favourable conditions or policy interventions, with their confidence significantly outpacing general sentiment. The early months of 2024 saw a notable increase in market confidence across all demographics, with home movers displaying a particularly sharp rise, indicating a strong belief in market recovery or the seizing of strategic opportunities.

This summary captures market confidence's nuanced and fluctuating nature, accentuating the optimism and engagement among active market participants.

Sales and Estate Agents Trends & Market Outlook

In 2023, the real estate landscape was divided. 37% of agents reported increased vendor interactions, suggesting market growth, while a greater percentage of 42% observed a decrease, reflecting economic pressures or competitive challenges. The remainder saw no change, indicating that a portion of the market remained stable despite fluctuations.

For 2024, 81% of agents anticipate growth in vendor numbers, revealing strong optimism likely fuelled by expected economic recovery and market opportunities. This contrasts sharply with the previous year's more mixed experiences.

Regarding property values in 2024, agents forecast a stable market, with 67% expecting minimal fluctuations. This outlook suggests a balanced approach, considering potential economic uncertainties.

Agents believe vendors seek advice from various sources, including personal networks and traditional and social media, indicating a trend towards well-informed decision-making.

Agent fees average 1.3%, and a pricing structure based on property value highlights the premium placed on higher-value transactions.

This summary underscores a dynamic and evolving real estate market marked by agents' adaptive strategies and a nuanced understanding of vendor behaviours and property value trends.

Lettings and Letting Agents Trends & Market Outlook

In 2023, the lettings market experienced net growth, with 48% of letting agents reporting increased landlords, driven by investment interest and economic shifts. Despite 19% noting a decrease, possibly due to regulatory changes, the outlook for 2024 remains cautiously optimistic. Over half of the agents (51%) anticipate landlord volume growth, fuelled by economic recovery and the rental sector's attractiveness.

57% of agents expect rental values to rise in 2024, attributed to continued demand and housing shortages. Yet 39% predict stability, indicating a balanced market. Agents believe landlords diversify their advice sources, heavily utilise traditional media and social networks, and challenge agents to provide informed consultations.

Fee structures for fully managed (11.3%) and let- only (8.7%) services reflect the value of comprehensive management, especially for high-rent properties. Operational challenges include expanding client bases and navigating legislative changes. Mixed technology adoption for tenancy progression suggests room for efficiency improvements. When choosing tenant referencing partners, quality, speed, and cost are critical for agents, highlighting a competitive market focused on service quality and operational efficiency.

The lettings sector's dynamic nature underscores cautious optimism and a focus on adapting to market and regulatory shifts.

Concerns and Competitive Landscape

Economic uncertainty, regulatory compliance, and customer lead generation are top concerns for real estate and letting agents, reflecting apprehensions about market volatility, legal complexities, and competitive pressures. Agents report an average of 12 competitors within their local market, highlighting a highly competitive and fragmented landscape that necessitates distinct service propositions and excellence in client relations. Future trends indicate a growing preference for self- employed agents due to their personalised service, while traditional high street agencies are expected to maintain resilience.

Online/hybrid agencies face uncertain prospects, with a notable portion of agents predicting a decline in popularity. This suggests a market recalibration favouring personalised and traditional services over digital- only models. The industry's challenges and evolving service preferences underscore the need for adaptability, innovation, and a focus on delivering value and quality service to effectively navigate the competitive and uncertain market landscape.

Marketing Insights and Trends

Real estate firms allocate an average of 10.4% of their annual income to marketing, focusing on portals like Rightmove, highlighting their importance in lead generation. In 2023, nearly half of the agents increased their marketing budgets, a trend that's expected to continue into

2024, especially among growth- oriented agents who are significantly investing in marketing for business expansion.

Social media and word- of-mouth are critical strategies for new business generation, with growth agents utilising direct mail and proactive outreach more effectively. Despite the reliance on internal teams for marketing efforts, agents face challenges such as budget constraints, content creation, and strategy development. There's a notable gap between agents' perceptions and consumer priorities, with agents emphasising market knowledge and experience while consumers value credibility and professionalism more

The data underscores the critical role of marketing in the competitive real estate sector and the need for strategic investment in digital platforms and targeted outreach to align with consumer expectations and drive growth.

Voice of the Customer on Estate and Letting Agents

The survey unveils the key services vendors, landlords, and consumers consider essential when choosing an estate or letting agent. Professional floorplans (77%) and photographs (71%) are top vendors' priorities in the eyes of agents, indicating the importance of highquality visuals in property listings. Landlords prioritise Energy Performance Certificates (EPC) (27%) and guidance on property preparation (20%), underscoring compliance and practical support. Consumers value comprehensive online portal listings (48%) and professional photographs (46%), highlighting the importance of visibility and presentation.

Notably, there's a discrepancy in the perceived importance of services between agents' assumptions and consumer priorities, with agents overestimating vendors' and landlords' interest in several services. Regular updates on online viewings and digital brochures also vary in importance across the groups, emphasising tailored service offerings to meet diverse client expectations.

The average person recalls around three estate/letting agencies, reflecting challenges in brand recall amidst market competition. According to the Ipsos Mori Veracity Index, estate agents generally remain low at only 28% of consumers trusting them to tell the truth, suggesting an industry-wide reputation issue despite those who have dealt with an agent showing much higher trust levels of 61%, particularly among younger demographics and mortgage owners.

The survey indicates a nuanced understanding of the real estate and letting services market from the customer's perspective. It highlights the critical role of professional presentation, the necessity for compliance- oriented services for landlords, and the importance of adequate online visibility. Additionally, the trust disparity and low brand recall suggest areas for the industry to focus on improving public perception and enhancing personalised engagement strategies.

Proptech Utilisation and Expectations in Real Estate

The survey on proptech in the real estate sector reveals various platforms with varying levels of awareness and usage among professionals. Homesearch, Brief Your Market, Sprift,

Spectre, and TwentyEA are among the most recognised Sprift is noted for its practical application. Real estate professionals utilise proptech for various activities, including branding, website development, prospecting, and property marketing, with Rightmove and Goodlord being prominent names for multiple services.

Despite these platforms' high utility, challenges such as integration issues, multiple logins, and a lack of customisation frustrate users. There's a strong desire for advancements in proptech to automate manual tasks like scheduling, lead management, and sales progression, indicating a push towards efficiency and streamlined operations.

Overall, while the real estate industry heavily relies on proptech, there's a clear call for improvements in user experience, integration capabilities, and automation better to support agents' day-to- day tasks and strategic goals. This highlights a path for future proptech development and adoption.

Adoption and Impact of AI in Real Estate

The survey on artificial intelligence (AI) in real estate reveals a notable adoption rate, with 44% of professionals using AI to enhance various operations. 56% have not adopted AI. Of the adopters, many users integrate AI into their weekly (58%) and daily (23%) routines, emphasising its role in streamlining tasks such as content production, marketing, and process automation. The majority find AI extremely or very helpful (75%), underscoring its impact on efficiency and decision-making. Despite this positive reception, there's room for growth, with 56% of agents yet to adopt AI tools.

Professionals are keenly interested in AI's potential to automate further manual tasks, including diary management, social media engagement, viewing schedules, and sales progression. This suggests a broad recognition of AI's capacity to free up time for strategic work and enhance overall business performance. The real estate industry's gradual pivot towards AI reflects an optimistic view of its ability to revolutionise the sector, pointing towards a future where AI- driven solutions play a central role in its evolution.

Perspectives on Regulation, Economic Outlook, and Solutions to the UK Housing Crisis

Most consumers (79%) and most agents (81%) advocate for formal qualifications and regulations in real estate to elevate industry standards and protect consumers.

Regarding the UK's economic outlook, opinions are mixed, with 44% optimistic about improvements and 22% anticipating a decline, reflecting diverse views on future economic conditions and the effectiveness of government policies.

Political preferences among real estate professionals lean towards the Conservative Party, but there's growing support for Labour, highlighting shifting sentiments. The national government is predominantly viewed as the main impediment in addressing the housing crisis, indicating a demand for strategic, apolitical solutions.

Proposed solutions for the housing dilemma include:

• Tax and planning reforms

• Building more affordable homes

• Simplifying regulatory procedures

• Housing Citizens' Assemblies

o A democratic way to forge sustainable housing policies. Inspired by successes in Ireland, these assemblies could merge expert and community insights to tackle housing challenges effectively. This would underline the need for inclusive, collaborative approaches to create sustainable communities and comprehensively address the UK's housing crisis.

Mental Health Challenges and Coping Strategies Among Real Estate Professionals

In the section focused on mental health in the real estate and letting industry, 42% of agents reported experiencing mental health challenges in the past year, with an even distribution between male (42%) and female (41%) agents. Over half (52%) did not face such challenges, and a small percentage opted not to disclose their mental health status.

When addressing mental health issues, 21% of agents dealt with them privately, while 18% sought support from family and friends. Professional help was sought by 12%, with more females (16%) than males (10%) opting for this route. A concerning 9% did nothing and a small percentage discussed issues with their line manager or preferred not to disclose their coping strategies.

Regarding their mental health status, 44% of agents reported no change, while 43% felt better than in the past year more so among females (53%) than males (39%). However, 12% felt worse, indicating ongoing mental health challenges within the industry.

These findings highlight the significant impact of mental health issues on real estate professionals, the diverse strategies employed to cope, and the varying states of mental well-being among agents. They underscore the importance of accessible support and tailored interventions to address the mental health needs of both male and female agents in this sector.

Discrimination Experiences and Reactions in Real Estate

The survey delves into discrimination faced by real estate and letting agents from colleagues and clients, revealing a significant gender disparity. Nearly half of all agents reported not experiencing discrimination from colleagues, yet this number is markedly higher for male agents (68%) than female agents (15%).

Gender-based discrimination is the most common form reported, especially among female agents (44%) compared to their male counterparts (5%). Similar trends are observed in client- originated discrimination, with female agents significantly more likely to report experiencing gender (71%) and age-based discrimination (29%).

When addressing discrimination, many agents choose not to take action, with a notable percentage of female agents (42%) opting to ignore the discriminatory behaviour. Conversely, male agents are more inclined to confront the perpetrator(s) (20%) or remove themselves from the situation (12%).

These responses highlight a potential need for much better support systems and mechanisms within the industry to empower agents, particularly females, to address and report discrimination effectively.

The findings underscore the pervasive issue of workplace discrimination in real estate, accentuating the necessity for targeted initiatives to foster a more equitable and respectful professional environment. Ensuring comprehensive support and establishing clear, accessible reporting channels could significantly improve agents' ability to navigate and challenge discriminatory encounters.

Demographics, Professional Engagement, and Network Affiliation in Real Estate

The real estate and letting agents survey reveals a predominantly male (70%) and middleaged workforce, heavily skewed towards senior positions (68% in top roles). Professional memberships are common, with Propertymark and the NAEA being the most popular, underscoring a commitment to industry standards.

Female-focused networks like Women in Estate Agency highlight a growing emphasis on gender diversity. The industry shows a balanced split between sales and lettings, with a slight preference for lettings.

Publications such as Property Industry Eye, The Negotiator, and Estate Agent Today are widely read, reflecting a keen interest in sector-specific news.

This demographic and professional landscape suggests an experienced, leadership -driven industry with an increasing focus on professional development and gender inclusivity.

Our study, inspired by Avivah Wittenberg-Cox's concept of "gender jaws," unveils significant gender disparities in real estate. While the real estate sector is gender-balanced and starts with a higher percentage of women at lower levels, this diminishes sharply at Board level.

Key highlights include the pressing need for gender balance strategies, fostering gender bilingualism, and the business imperative of achieving equity. Additionally, perceptions of International Women's Day (IWD) vary between men and women in real estate, underscoring the importance of open discussions to address gender gaps in senior roles.

Market Confidence and Outlook

There has been rising consumer confidence in house prices since they reached their lowest point since our records began in 2017 in October 2023

How do you think the value of the property/dwelling in which you live will have changed 12 months from now?

No change

Those who intend to buy or sell in the next 12 months Net 20.1% compared to 8.5% for all GB adults

Don't know, 13.5%

No change, 17.0%

Source: Unchained House Price index / YouGov, Profiles, 12 months rolling data

Confidence: How do you think the value of the property/dwelling in which you live will have changed 12 months from now?

Net Confidence 9th July 2017 to 31st December 2023 (Higher House Price minus Lower House Price)

13/02/2022, 25.3%

10/06/2018, 17.4%

15/03/2020, 12.4%

22/11/2020, 3.6%

01/10/2023, 1.1%

Source: Unchained House Price index / YouGov, Profiles, 12 months rolling data

The Unchained House Price Confidence index measures the balance between those who believe their house will rise in value and those expecting a decline in the next 12 months. The index has a roller- coaster pattern from 2017 to 2024.

The period started with relative optimism, with net confidence levels in the mid-16% range. A stable yet slight decline followed through the end of 2018, reflecting a cautious but not pessimistic view among homeowners. This pattern underscores the volatility and unpredictability of housing market confidence, influenced by broader economic trends, policy interventions, and global events.

A more notable dip occurs in early 2019, descending to single digits and reaching its nadir in mid-2020. This is likely a reaction to economic uncertainties driven by the COVID-19 pandemic's impact on the economy and housing market confidence.

Subsequently, we witness a recovery, with a remarkable surge in net confidence reaching its zenith in early 2022. This can be attributed to a post-pandemic economic rebound, vaccination progress, and a reinvigoration of the housing market spurred by necessity, the shift from cities, pent-up demand, and government incentives.

However, the tail end of 2022 into 2023 sees a descending trend once more, with confidence levels dropping back to lower single digits. This recent dip could be associated with rising interest rates, economic downturns, or other market cooling measures, seemingly affecting the public's housing price outlook.

Entering 2024, sentiment is steadily rising once again, signalling an adjustment to new economic conditions and a response to falling interest rates aimed at stabilising and stimulating the market. This pattern underscores the sensitivity of housing market confidence to broader economic trends, policy interventions, and global events.

Net Confidence 2024

All Adults Home Movers (Buy/sell next 12 months)

The data from January 2024 onwards presents a granular view, separating general adult confidence in house price changes from those actively looking to buy or sell within the next 12 months (home movers)

We see consistently higher confidence among home movers than the general adult population, signalling a solid intent to engage in the property market despite broader economic conditions. This could indicate a market driven by necessity or opportunity, as potential buyers and sellers anticipate either market growth or seek capitalising on current conditions.

From January to March 2024, confidence among all adults increased from 4.6% to 7.8%, suggesting a growing belief in the property market's strength or stabilisation. Home movers' confidence rose more sharply, from 9.2% to 16.4%, and was double that of the general populace. This disparity underscores a keen market sense among home movers, likely driven

Source: Unchained House Price index / YouGov, Profiles, 12 months rolling data

by favourable mortgage rates, government policies, or a perceived opportunity for value in the market.

The difference in confidence between home movers and all adults also remained relatively constant, fluctuating around 2.1 times as confident prices will rise, reinforcing the notion that buyers and sellers are consistently more optimistic or perhaps more attuned to favourable market conditions than the broader population. This disparity could be influenced by home movers' active research and engagement in the market, making them more responsive to positive market indicators and opportunities.

Sales Transactions

Instructions Exchanged

12 per. Mov. Avg. (Instructions)

12 per. Mov. Avg. (Exchanged)

Source: TwentyEA, Insights, to March 31st 2024

The property industry has strong seasonal patterns with peaks and troughs. Notably, there was a significant spike in "Instructions" around mid-2020, which might correspond to a market event or policy change. The "Exchanged" line shows less volatility than "Instructions," suggesting that while interest in listing properties may vary more dramatically, the actual sales completion rate is more stable. The data after mid-2023 shows a sharp decline in "Exchanged" transactions, indicating a possible slowdown in completed property sales.

Commentary from TwentyEA: As we exit the first quarter of 2024, the market has a renewed level of momentum developing.

• The supply of New Instructions is up by 12% compared to Q1 2023. This is edging closer to 450k per quarter and a level consistent with a “normal” market.

• Sales Agreed are up by 15% as the mortgage market stabilises from the seismic shocks of 2023.

In the last 5 years, the average price per square foot has increased by 21.4%.

• Wales has seen the most price growth at 28%, followed closely by Northern Ireland.

• The slowest growth experienced has been in London at around 10%.

TwentyCi Property & Homemover – Q1 2024 Report

Lettings Transactions

Source: TwentyEA, Insights, to March 31st 2024

Lettings also have a seasonal pattern, with regular peaks and troughs suggesting higher and lower activity at certain times of the year. After a period of relative stability, there's a notable dip in both "Instructions" and "Let" activities at the beginning of 2024, with the "Let" activity experiencing a particularly sharp decline, which could be indicative of a significant market change or external event affecting the property rental market at that time. This downward trend in "Let" activities suggests a sudden decrease in the number of properties being rented out, which could have various implications for the market, such as increased supply of rental properties, decreased demand, or both.

Commentary from TwentyEA: The duress experienced within the letting sector in 2023 shows no significant sign of a positive correction. A continuation of stock shortages, high demand and ever-rising rental costs continue to stifle the rental market.

Q1 2024 has seen an insignificant improvement in supply, barely sufficient to meet the demand. Stock levels and availability remain at historical lows and with demand significantly outstripping supply, rental price increases continue.

• New Instructions in Q1 2024 are 5% higher than in Q1 2023 with Lets Agreed running in parallel, with a 6% increase.

TwentyCi Property & Homemover – Q1 2024 Report

Sales & Estate Agents Trends & Market Outlook

In 2023, did the number of vendors you worked with increase, stay the same or decline?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

In 2023, real estate and letting agents saw a divergent change in the number of vendors they worked with. According to the survey, 37% of agents reported an increase in the number of vendors, with 17% witnessing a significant rise (more than 10%) and a further 21% experiencing a moderate increase. This growth could suggest market expansions, diversification of services, or an upturn in market activity requiring agents to engage with more vendors.

Conversely, a slightly higher proportion of agents, 42%, observed a decrease in vendor interactions: 34% noted a decline, and 8% experienced a substantial reduction (minus 10%

or more). These figures reflect market consolidation, the impact of economic challenges, or increased competition leading to fewer but more robust vendor relationships.

The remaining 21% of agents indicated stability in vendor numbers, implying a steady market sector or effective existing partnerships requiring no expansion or reduction. The close split between those reporting an increase and those reporting a decrease in vendors points to a highly dynamic real estate sector with varying regional or sectoral trends.

In 2024, do you expect the number of vendors you work with to increase, stay the same or decline?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Looking forward to 2024, estate agents show a strikingly optimistic outlook regarding their work with vendors. A significant 81% anticipate an increase in the number of vendors they work with, with 27% expecting a substantial increase (plus 10% or more), and an additional 54% foresee a more moderate rise. This substantial jump in optimism, compared to the 37% who reported an increase in 2023, suggests a strong positive shift in market expectations, possibly driven by predictions of economic recovery, an uptick in real estate activity, or new business opportunities emerging in the post-pandemic landscape.

The survey reflects minimal pessimism for the upcoming year, with a mere 3% of agents predicting a decrease in vendor numbers, a sharp decline from the 42% who reported a decrease in 2023. Notably, no agents anticipate a significant decrease (minus 10% or more) for 2024. This overwhelming confidence could be influenced by an anticipated increase in property transactions, expansions in service offerings, or an overall economic boom.

In 2024, do you expect the property values in your area to increase, stay the same or decline?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

In 2024, the survey reveals a tempered outlook on property values from estate agents. A majority, 67%, expect property values to maintain relative stability, with fluctuations within a margin of +/- 5%. This suggests a belief in a balanced market without significant upward or downward pressures in the immediate term. This is a considerable shift towards neutrality compared to the optimism reflected in the vendor relationship expectations.

Remaining agents are almost evenly split on the direction of change in property values, with 15% predicting an increase (up to 10%) and 18% forecasting a decrease (up to 30%). The slight edge towards a decrease could be linked to concerns over economic factors that traditionally impact property values, such as interest rates, inflation, and employment rates.

Extreme sentiments are rare, with only 1% forecasting a significant increase or decrease, and none anticipating a market crash. The conservative estimates for change reflect a cautious

stance, potentially indicative of uncertainties in the long-term economic outlook or a waitand-see approach to ongoing market developments.

Overall, there is an expectation that prices are more likely to decrease.

The contrast between the high expectations for increased vendor activity and the modest outlook on property values might point towards a more competitive market where agents prepare for increased transaction volumes without corresponding surges in property prices. This could imply a market where agents are bracing for greater activity but also increased competition and the need for efficiency and differentiation in services.

Where else do you believe your vendors are getting property advice from? (Consumers: Where do you get your advice about property from?)

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Source: Opinium, Research Dates 15th March 2024 to 19th March 2024, Sample 2,000 adults 18+

The data reflects a discrepancy between where estate agents believe consumers are getting property advice and where consumers claim to be getting their advice. A striking contrast is observed with advice from friends and family; while 85% of estate agents believe consumers seek advice here, only 26% acknowledge doing so. This significant gap suggests that estate agents may overestimate the influence of personal relationships on property decisions.

Non property professionals (e.g. accountants, solicitors)

What Estate Agents Think What Consumers Say

32% of consumers say they receive property advice from estate or letting agents.

Regarding independent research, consumers are more likely to turn to online property sites, with 37% using them, compared to 51% of agents who believe consumers use these resources. Interestingly, a substantial 31% of consumers report not getting any advice, which only 7% of agents suspect, revealing agents may not realise how many consumers are navigating the property market without formal advice.

For advice from non-property professionals and the workplace, agents and consumers report low percentages (agents believe it's 54% and 34%, respectively, while consumers report 6% for both), indicating a consensus that these are secondary sources of property advice.

Estate agents seem to greatly overestimate the role of media (press, radio, TV) and social media as sources of property advice, with 84% and 71%, respectively, versus consumers' reported 11% and 12%. This could imply that agents are overvaluing the impact of these channels on consumer behaviour or that consumers are not fully aware of the influence these sources have on their decision-making process.

The data reveals a perception gap between estate agents and consumers that could affect how agents approach their marketing and customer engagement strategies.

What is the average value of properties you?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

There is a 63% correlation between the range of prices respondents said they cover and the range of instruction prices in the UK. Prices in the prime market (£600k+) were overrepresented.

What is your typical sole agent fee? (excluding VAT and rounded to the nearest figure)

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The gathered data indicates that the average sole agent fee, exclusive of VAT and rounded to the nearest figure, is 1.3% within the estate agent sector.

Agent Fee versus House price

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The data on typical sole agent fees provides an intriguing glimpse into the pricing structure within estate agency. The average fee across the board stands at 1.3%, showcasing the cost agents command for their services. Notably, the fee structure is progressive relative to property value, starting at 1.18% for properties valued at £0k-£100k and increasing incrementally to 2.50% for properties over £5 million.

Please note, this is a weighted average, so any distortion of the prime end is minimal.

This commission level indicates that agents leverage the scale of higher-value transactions to adjust their fees, reflecting the additional effort, expertise, and marketing that luxury properties may demand. The moderate fee rates for mid-range properties, maintaining around 1.1% to 1.18% for homes valued between £200k-£600k, suggest a competitive market where agents balance the need to attract business against their services.

The significant jump in fees from 1.40% at the £750k-£1m bracket to 2.50% for the £5m+ properties could be indicative of a niche service for high-value property transactions, where agents likely offer a bespoke service including extensive marketing campaigns, personalised client services, and potentially international reach, justifying the higher fees. This data reflects the market's tiered structure and the agents' value proposition across different property market segments.

Lettings & Letting Agents Trends & Market Outlook

In 2023, did the number of landlords you worked with increase, stay the same or decline?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

In 2023, the lettings side of the real estate industry saw a net growth in landlord engagement, according to surveyed agents. Nearly half, accounting for 48% of the respondents, experienced an increase in the number of landlords they worked with; 11% noted a significant rise (plus 10% or more), while 38% reported a moderate increase. This suggests a growing market driven by investors seeking to capitalise on the rental sector or shifting towards property investment as a stable asset amid economic uncertainty.

A third of agents reported that their dealings with landlords remained unchanged, indicating a stable client base for a significant portion of the industry. Meanwhile, 19% of agents saw a decrease in landlord interactions, with 4% experiencing a major decline. These figures may reflect market exits, perhaps due to regulatory changes, shifts in investment focus, or personal financial reasons.

The data indicates a generally healthy lettings market with expanding opportunities for real estate professionals. However, the decrease in a fraction of agents could signal underlying challenges or shifts within the market that may need addressing to sustain long-term growth.

In 2024, do you expect the number of landlords you work with to increase, stay the same or decline?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Looking ahead to 2024, real estate and letting agents exhibit a cautiously optimistic forecast for landlord engagement. Most agents( 51%) anticipate growth in their work with landlords. This group includes 12% of agents who expect a substantial increase in their landlord clientele by 10% or more and another 40% who foresee a moderate rise. A recovering economy, attractive investment opportunities in the rental market, or a trend of property acquisition for rental purposes may fuel this positive sentiment.

About a third of agents, 31%, predict that their number of landlord clients will remain stable, which may indicate satisfaction with current portfolios or a wait-and-see approach given the economic forecasts.

On the flip side, a minority of 17% anticipate a decrease in the number of landlords they serve, with only 2% bracing for a significant downturn. These figures could be attributed to potential challenges such as regulatory changes, tax implications, or a shift towards owneroccupancy.

The overall outlook for 2024 suggests that the rental market remains vital to the property industry, with expectations for growth outpacing declining concerns. The lettings sector seems poised for expansion, likely driven by sustained demand and a belief in the continued profitability of rental investments.

In 2024, do you expect the rental values in your area to increase, stay the same or decline?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

In the realm of rental property values, the surveyed agents project a positive trend for 2024. Most (57%) anticipate an increase in rental values: 9% are bracing for a significant surge (plus 10% or more), and a substantial 48% are predicting a moderate increase (between 510%). These expectations may be driven by a combination of factors, such as continued

demand for rental properties, potential economic growth, or a shortage in housing supply that often leads to higher rental prices.

On the stability front, a notable 39% of agents forecast that rental values will remain relatively unchanged, fluctuating within a 5% range. This indicates that a significant portion of the market expects a steady state, perhaps due to a balanced supply- demand scenario or effective regulatory controls.

A minimal 4% of agents anticipate a decrease in rental values, with none expecting a sharp decline or a crash in the market. The lack of concern for significant downturns reflects confidence in the rental market's resilience and potential growth, suggesting agents believe the sector will remain robust through 2024. The outlook is overwhelmingly positive, indicating a prevailing sentiment that rental markets will continue to thrive or at least maintain current valuation levels.

Where else do you believe your landlords are getting property advice from? (Consumers: Where do you get your advice about property from?)

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Source: Opinium, Research Dates 15th March 2024 to 19th March 2024, Sample 2,000 adults 18+

Letting agents believe most landlords are turning to the media (press, radio, TV) for property advice, with 80% holding this view, while only 11% of consumers acknowledge using media sources. This suggests letting agents overestimate traditional media's impact on landlords' decision-making processes.

63% of letting agents perceive social media as a significant source of property advice, a perception not shared by the 12% of consumers who actually use it. This discrepancy suggests that agents may be overestimating the impact of social media on landlords' decisions.

The agents' perceptions of landlords seeking advice from non-property professionals and the workplace are similarly overestimated (61% and 23%, respectively) compared to the consumers' reported rates of 6%. This again may indicate agents' misconceptions about where landlords believe credible advice is sourced.

A sizable number of consumers (31%) claim they are not getting any advice while letting agents guess a lower figure at 13%. This discrepancy points to a potentially large segment of the market navigating without professional guidance, of which agents might need to be fully aware.

There is a notable difference in terms of receiving advice from friends and family: Agents believe this happens 67% of the time, whereas only 26% of consumers confirm this. This highlights a significant overestimation by agents of personal networks' roles.

One area where perceptions are closer relates to online property sites; 50% of letting agents think landlords use these sites, closely aligning with the 37% of consumers who do. This indicates a shared understanding of the internet's role in property advice-seeking behaviours.

The data reveals that letting agents might benefit from adjusting their assumptions about landlords' advice-seeking habits to align more closely with consumer behaviour. This could enhance their communication and services.

What is the average rental value of properties you list (you can tick more than one to cover a range)?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

There is an 89% correlation between the range of prices respondents said they cover and the range of instruction prices in the UK. Prices in the sub £800 and mid-market (£1500 to £5,000) were overrepresented.

What is your typical FULLY MANAGED fee? (excluding VAT and rounded to the nearest figure)

Average fee is 11.3%

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The analysis of fees charged letting agents provides insight into the cost structure of rental management services. The survey reports an average fee of 11.3% for fully managed services. This fee encompasses the comprehensive suite of services provided to landlords, from tenant screening and rent collection to property maintenance and potentially legal support. The relatively high fee reflects the extensive nature of the services rendered, the expertise required, and the value of the convenience offered to landlords.

What is your typical LET ONLY fee? (excluding VAT and rounded to the nearest figure)

Average fee is 8.7%

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

For let- only services, the average fee reported is 8.7%. This service typically includes marketing the property, finding and vetting a tenant, and preparing the lease agreement, after which the landlord assumes the management responsibilities.

The fee, lower than that for full management, reflects the reduced scope of service but still represents a significant portion of the rental income, indicative of the value placed on securing a suitable tenant and setting up the tenancy.

The difference between the two fees highlights the premium placed on the ongoing management and time investment associated with fully managed services compared to the one- off transactional nature of let- only services. These fees illustrate the market's valuation of the convenience, expertise, and reduced time investment required from landlords when engaging professional management for their rental properties.

Agent Fee versus Rental price

FULLY MANAGED

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey data presents a comprehensive breakdown of typical fees charged by letting agents, delineating between 'fully managed' and 'let only' services across various rental price brackets.

For 'fully managed' services, which include the comprehensive handling of property management tasks, fees are notably higher, reflecting the greater responsibility and workload. The average fee is 11.3%. These fees escalate with the rental price, starting at 10.4% for properties ranging from £400 to £600 and scaling up to 25.0% for properties with rent over £20,000, indicating a progressive fee structure that adjusts with the level of rent and potential complexity of management services required.

Please note, this is a weighted average, so any distortion of the prime end is minimal.

Agent Fee versus Rental price, continued… LET

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Conversely, 'let only' services typically include finding tenants and arranging the lease but exclude ongoing management tasks, which command lower fees. The average fee for 'let only' services is 8.7%. The fees for 'let only' services start lower, at 6.0% for the £400 to £600 bracket, and rise to 11.0% for properties renting for over £20,000. This also reflects a progressive fee structure but at a lower scale than fully managed services.

The comparison between the two service types indicates that as the rental price increases, the differential in percentage fees between 'fully managed' and 'let only' services widens, suggesting that the value and complexity of full management are proportionally greater at higher rent levels. The data highlights the premium placed on the comprehensive management of high-rent properties and the scalable nature of letting agent fees relative to the property's rental value.

Please note, this is a weighted average, so any distortion of the prime end is minimal.

Roughly, how much time IN HOURS per week do you spend on the following things?

Chasing references, 2.9

Speaking to your landlords, 12.7

Maintenance, 9.2

Viewings, 9.2 Tenancy progression, 10.1

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey data presents a detailed look at how letting agents allocate their weekly work hours across various tasks. Speaking with landlords takes up the most time, averaging 12.7 hours per week, indicating the importance of communication and relationship management in this field.

Tenancy progression is the next most time- consuming task, with agents spending approximately 10.1 hours weekly on it. This likely involves negotiations, agreement finalisations, and move-ins coordination, highlighting its complex nature.

Maintenance and viewings both account for 9.2 hours weekly. Maintenance tasks vary widely, from addressing urgent repairs to coordinating routine upkeep, while viewings are crucial for matching tenants with suitable properties.

Chasing references, a critical step in ensuring the quality and reliability of tenants, takes up the least time at 2.9 hours, suggesting either a streamlined process or less frequency compared to other tasks.

In total, letting agents report spending 44.2 hours per week on these activities. Standard fulltime hours are usually 8 hours a day, 40 hours a week in the UK. The average full-time working person in the UK works 36.4 hours per week.

This emphasises the demanding nature of their role in the real estate sector. The time spent reflects the diverse and engaging aspects of a letting agent's job, balancing administrative duties with strategic relationship management.

What is your biggest challenge as a letting agent?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The insights from the surveyed letting agents reveal the diverse challenges they face within the industry. Nearly half of the agents, 48%, cite the marketing challenge of finding new landlords as their predominant challenge, indicating that expanding their client base is a significant concern, likely due to market competition and the current economic climate affecting investment decisions.

Keeping up with legislative changes is another significant challenge for 17% of agents, underscoring the dynamic nature of the legal landscape in real estate and the importance of compliance in their operations.

12% of agents note tenancy-related administration as a primary challenge, reflecting the intricate and sometimes burdensome nature of managing rental agreements and tenant relationships.

8% of agents say persuading landlords to opt for managed services presents a challenge, possibly due to their cost concerns or preference for personal property management.

Other challenges, such as time pressure and keeping landlords in the market, are less frequently noted, at 4% and 5%, respectively, but still represent stress areas within the profession.

The 'Other' category accounts for 6% of the responses, suggesting unique or less common issues not captured in the predefined options, ranging from market-specific issues to internal operational challenges.

These responses underscore the multifaceted nature of the letting agent role, with a clear emphasis on the need for business development and adaptation to an evolving regulatory and administrative environment.

Do you use a specific piece of software for tenancy progression?

If so, what software?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey regarding the use of software for tenancy progression reveals a mix of preferences among letting agents. A significant 33% report using 'Other' software solutions, which suggests the industry uses a diverse range of tools, possibly tailored to specific needs or preferences.

Goodlord is the most popular named software used by 20% of respondents, indicating its strong presence in the market. Alto is preferred by 13% of agents, highlighting its competitive position as a software provider.

Propoly and Reapit each have a 5% usage rate among the surveyed agents, suggesting they have a niche but stable user base in the industry.

Surprisingly, 25% of agents do not use specific software for tenancy progression, which could imply reliance on traditional methods or generic digital tools not specialised for tenancy tasks.

The data points to a partly technologically diversified sector with multiple software options in play. At the same time, a significant proportion of the industry still operates without specialised software, potentially indicating an opportunity for software developers to expand their reach or for agencies to improve efficiency through technology adoption.

What factors are most important to you when choosing a tenant referencing partner?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Letting agents prioritise the quality of reference when choosing a tenant referencing partner, with a majority of 53% emphasising this aspect. This underscores the critical nature of thorough and reliable references in the tenant selection process, as high- quality references are essential for mitigating risks and ensuring the suitability of potential tenants.

Speed of reference is also a significant consideration, with 15% of agents prioritising quick turnaround times. This suggests that efficiency in the vetting process is valuable due to the fast-paced nature of the rental market and the desire to minimise vacancy periods.

Cost concerns 14% of agents, reflecting the need to balance budget considerations with the value of the services received. Customer service stands out for 13% of agents, highlighting the importance of support and interaction quality with referencing partners.

Brand recognition is deemed least important, with only 1% of agents considering it a primary factor, indicating that more than reputation alone is insufficient needed to influence the choice of a referencing partner without performance and service quality.

An additional 4% of responses are categorised under 'Other,' suggesting there are some specific, less common criteria or niche requirements that agents look for, which could vary widely based on individual or company priorities.

The focus on quality, speed, and cost reflects a pragmatic approach to tenant referencing, with agents keenly aware of their choices' operational and financial impact in referencing partners.

What brands come to mind when you think about companies that provide services to facilitate tenancy progression, from tenant enquiries, tenant referencing to moving in?

In considering brands that facilitate various stages of tenancy progression, Goodlord stands out, with 27% of letting agents recognising it as a top - of-mind service provider. This suggests that Goodlord's solutions for tenant enquiries, referencing, and moving-in are highly regarded within the industry.

'Other' brands accumulate 20% of agents' recall, indicating that a wide variety of services are being utilised and that no single dominant player exists in the market. This allows room for lesser-known or niche companies to make an impact.

Homelet also has a notable presence, mentioned by 10% of respondents, reflecting its visibility and relevance in the tenancy services sector.

The presence of Vouch and Propoly, each with 8% mindshare, alongside Let Alliance and Lettings Hub at 7%, indicates these brands have successfully established themselves in the market. However, they have yet to reach the prominence of Goodlord.

Rightmove, primarily known for property listings, is still associated with tenancy progression services by 5% of respondents, which could reflect its comprehensive offerings in the property market ecosystem.

Interestingly, 7% of agents could not name a brand, which may indicate a gap in brand marketing or a level of indifference towards the brand if the service meets the agents' needs. The diversity of responses underlines a competitive and fragmented market where reputation, specialised service offerings, and successful branding play critical roles in capturing the attention of professionals.

Concerns & Competitive Landscape

Please tick the issues that are of most concern to you.

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

In addressing the concerns of real estate and letting agents, economic uncertainty tops the list, with a significant 61% identifying it as a major issue. This concern likely encompasses apprehension about market volatility, the potential for economic downturns, and their impacts on property investments and rental demand. 43% of respondents are also concerned about regulatory compliance challenges, which reflect the complexities and potential costs of meeting legal requirements.

Customer lead generation, critical for business growth, is a crucial concern for 39% of agents, indicating the competitive nature of the market and the importance of a steady

stream of clients. At 36%, talent shortages suggest that skilled personnel recruitment and retention are significant challenges, potentially affecting service quality and business expansion. Rising energy costs are a concern for 32% of agents, which may impact operational expenses and the attractiveness of properties. Business cashflow issues are highlighted by 31% of respondents, pointing to the fundamental importance of liquidity for sustainable operations.

16% of agents worry about cybersecurity threats, reflecting their increasing reliance on digital systems and the associated risks. Adapting to technological change concerns 13% of agents, who must keep pace with evolving tools and platforms to remain competitive. 10% of respondents cited difficulties accessing funding, indicating that obtaining financial resources for business development can be a barrier. Other financial challenges are noted by 8%, which might encompass a range of unspecified economic concerns outside of the given options.

These insights reveal that the agents are navigating a complex landscape where economic factors are coupled with operational and strategic challenges, emphasising the industry's need for resilience and adaptability.

In a typical agent’s geographic patch, how many other estate/letting agencies do you estimate you directly compete with for vendors/landlords?

Survey data reveals the average real estate or letting agent contends with approximately 11.7 competitors within their geographical patch. This figure illustrates the competitive landscape of the property industry at the local level, where agents must differentiate themselves to capture the attention of vendors and landlords.

That said, 52% say they compete with 10 or more, with a fifth reporting 20 or more competitors.

The competition for clientele in such an environment demands that agents leverage unique selling propositions, local market expertise, and exceptional service. It also highlights the importance of strong relationships and reputation in the community, as agents compete not only on price and services but also on trust and personal connections.

This degree of competition can spur innovation as agencies strive to offer value-added services or technology- driven solutions to stand out. It also underscores the necessity for robust marketing strategies and the cultivation of a comprehensive understanding of the local market dynamics.

This competition can be advantageous for vendors and landlords, offering a breadth of choices and the potential for better terms as agents vie for their business. However, it can also make selecting an agent much more complex.

Overall, the figure provides a snapshot of the average agent’s market environment, indicating a moderately high level of competition, which could significantly influence day-to - day operations and strategic planning.

Do you see more or fewer vendors and landlords turning to any of the following over the next 12 months?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey presents insights into industry trends and agents' expectations about how vendors and landlords will manage their property transactions in the coming year.

Having cut the data above by the nature of the respondent, e.g. filtered by self- employed agents views, there were no significant differences to report.

There is a notable trend towards self- employed agents, with 55% of respondents anticipating more landlords and vendors will turn to them, while only 12% expect fewer. This could reflect a growing appreciation or acceptance for self- employed agents' personalised and dedicated service. High street agencies are also expected to rise, with 35% predicting more engagement versus 21% who foresee a decline. This suggests resilience in the traditional agency model and a continued preference among some clientele for face-to -face interactions.

Online/hybrid agencies, which have disrupted the market in recent years, are at a crossroads. While 26% of agents expect increased use, a larger 44% anticipate a decrease. This could indicate market saturation or a challenge in sustaining the initial growth momentum.

For free-to -vendor solutions, where income is generated through ancillary services, 17% expect an increase in use, against 31% predicting a decrease. This may signal scepticism

about the sustainability or appeal of such models. Finally, do -it-yourself/self-service solutions are anticipated to decline, with 42% of agents foreseeing fewer vendors and landlords taking this route, compared to 15% expecting more. This could be attributed to the complexities of property transactions, which might be challenging without professional assistance.

These expectations suggest a competitive market in which different service models are vying for dominance, and perceived value and convenience are driving choices for vendors and landlords.

Marketing Insights and Trends

What percentage of your firm’s income do you spend per annum on marketing (e.g. advertising, public relations, digital, social media, direct) excluding Portals?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

According to the survey, on average, real estate firms allocate 10.4% of their annual income to marketing efforts, excluding expenditures on portals. This investment highlights the importance of marketing strategies in the competitive real estate landscape. By investing over one-tenth of their income, firms are focused on enhancing their brand visibility, engaging with potential clients through various channels, and differentiating themselves in a crowded market.

This level of spending suggests that firms recognise the value of comprehensive marketing campaigns, which can include digital and social media advertising, direct marketing, and public relations initiatives. As the real estate industry evolves, a strong marketing approach

can be crucial for maintaining client relationships, attracting new business, and establishing a market presence.

The figure also serves as a benchmark for firms assessing their marketing budgets, indicating that marketing is a significant but necessary expense to foster growth and market share in the real estate sector.

What percentage of your firm’s income do you spend per annum on marketing?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

When the type of agency operations segments the data, lettings agents report an 11.32% expenditure, slightly higher than sales agents at 10.86%, suggesting that lettings-focused agencies are investing more to attract landlords and tenants in a more competitive or less predictable market. Mixed operations, with a 60/40 split between sales and lettings or vice versa, report a significantly lower expenditure of 7.92%, indicating an efficiency in marketing spend due to the diversification of their business model.

The breakdown by market level shows that prime agencies (dealing with properties over £600k and/or rentals over £3k per month) spend a higher percentage of their income (11.57%) on marketing compared to mainstream agencies (8.84%), which reflects the need to reach a more niche, affluent clientele through premium marketing channels.

Size-wise, a clear trend emerges where larger businesses with 11-20 branches spend the highest percentage of their income on marketing (12.90%), followed by those with 1-10 branches (12.02%) and single office businesses (10.26%). Interestingly, the largest agencies with more than 21 branches report a lower marketing spend (9.27%), which might indicate economies of scale in marketing or a well- established brand presence that reduces the need for aggressive marketing expenditure. With a 10.21% marketing spend, self- employed agents align closely with the overall average, highlighting consistent marketing investment regardless of business size or model.

A notable trend is the significantly higher marketing spend by online estate agencies. These agencies allocate 40% of their income to marketing, vastly exceeding the averages in other categories.

These insights suggest that the nature of the operation, market positioning, and the scale of the business highly influence marketing strategies and expenditures in the real estate agency sector. Each segment exhibits unique spending behaviours reflecting its operational challenges and market opportunities.

How much do you (if self- employed) or your business spend per month on portals

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

This investment indicates the importance of marketing in the real estate industry for visibility and client acquisition.

The monthly spend provided gives a more detailed breakdown of marketing expenditures. On average, businesses allocate £2,124 to marketing, which accounts for 38% of the total spend. A larger share of £3,432, or 62%, goes towards portals per month, summing to a total monthly expenditure of £5,556 on these combined activities. Obviously, these figures will be very different for different sizes of agencies.

The much heavier investment in portals shows that these platforms play a crucial role in the industry, likely due to their effectiveness in reaching potential clients and their importance in the property listing and search process.

The distribution of spending shows that while traditional and digital marketing remain significant parts of the business strategy, there is a substantial reliance on portal platforms, which may be deemed more direct and possibly more effective channels for generating leads and sales in the property market.

Compared to 2022, did your marketing budget increase, stay the same or decrease in 2023?

The survey results show a significant trend in marketing budget adjustments among real estate agents, mainly when segmented by growth agents those who experienced and anticipate client growth.

Overall, 45% of agents reported an increase in their marketing budgets in 2023 compared to 2022, with 8% noting a substantial increase of more than 10%. In contrast, growth agents show a more aggressive investment in marketing, with 64% reporting increased budgets and a notable 20% indicating an increase of over 10%.

The data also reveals that 36% of all agents maintained their marketing spend, while a smaller 24% of growth agents did the same, suggesting that growth agents are more likely to invest more heavily in marketing initiatives.

Decreases in marketing budgets were less common, with 12% of all agents and only 2% of growth agents reducing their budgets. The fact that none of the growth agents reported a significant decrease of over 10% underscores their commitment to marketing as a driver for business expansion.

Interestingly, a small portion of respondents, 7% of all agents and 9% of growth agents were unsure about their budget changes, which may indicate less hands- on involvement with financial planning or recent shifts in role or strategy.

The comparison suggests a clear correlation between a proactive approach to marketing and business growth, emphasising that investment in marketing may be a pivotal factor in an agency's ability to expand its clientele. Growth- oriented agents prioritise marketing spending as a strategic tool to gain a competitive edge and capture more market share.

Compared to 2023, will your marketing budget increase, stay the same or decrease?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Looking ahead to 2024, a higher number of agents, 53% in total, forecast an increase in marketing investment, with 10% planning to increase it by more than 10%. This signals a bullish outlook for the next year, driven by positive market sentiments or lessons from the past year's performance.

Among growth agents, an even larger majority (64%) intend to increase their marketing budget, emphasising their commitment to leveraging marketing for business expansion. Notably, no growth agents plan to decrease their budget, underscoring a strong correlation between marketing spend and business growth within this segment.

This trend indicates an acknowledgement across the industry, especially among growthoriented agents, of the importance of marketing in driving business success. Despite economic uncertainties, marketing investment is considered a critical strategy for sustaining and expanding client bases in the competitive real estate landscape.

Excluding portals, what methods do you mainly use to generate new vendors and landlords?

How much more growth agents use different channels compared to all agents (Great than 100, use it more, less than 100, use it less)

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Across all channels, growth agents are 9% more active.

The survey highlights the methods agents use to generate new vendors and landlords, comparing the practices of all agents to those of growth agents, who are defined as having seen an increase in clients in 2023 and expecting growth in 2024.

Social media is the predominant channel, utilised by 84% of all agents and 85% of growth agents. This reflects its widespread adoption and perceived effectiveness, with a slightly higher inclination among growth agents (index of 101).

Word of mouth is the second most popular method, employed by 77% of all agents and 80% of growth agents. This underscores the importance of reputation and personal referrals in the industry, with growth agents leveraging it slightly more (index of 104).

Growth agents use direct mail significantly more (76%) than all agents (62%), highlighted by an index of 122, suggesting growth agents place higher value on this traditional method.

E-mails and canvassing are also more frequently used by growth agents, with 67% and 57% respectively, compared to 60% and 54% for all agents, indicating a focus on proactive outreach strategies among growth agents.

Public relations and magazine advertising are employed evenly by both all agents and growth agents (22% each), showing these methods are consistent irrespective of growth status. That said, as the highest ROI marketing activity, this is surprising.

Conversely, growth agents use online newsletters less (13%) than all agents (18%), with an index of 71, suggesting they may prioritise other methods over newsletters for outreach.

More traditional advertising methods like television, radio, and billboards show a higher growth agent index, suggesting that agents experiencing growth are also more likely to invest in these channels, even if the overall usage remains low.

The index provides insights into the strategic choices of growth agents, emphasising their frequent use of direct and personal outreach methods, which may contribute to their success in client acquisition and growth.

Which portals/property platforms do you use or list your properties on?

Use, post properties and buy additional services (featured properties, LVAs, email)

Use and post properties

Use (for information/promotion/awards/reviews)

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

And, which portal is MOST EFFECTIVE for you in driving leads?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

It’s clear Rightmove dominates as the portal of choice for listing properties and driving leads. It has a significant 90% usage rate for listings, and 74% of agents identify it as most effective in generating leads. This high level of endorsement underscores Rightmove’s prominent position in the market as a critical player for property visibility and lead generation.

Zoopla also maintains a strong presence, with 77% of agents using it for property listings and 10% ranking it as the top platform for leads. Onthemarket follows, being utilised by 73% of agents for listings, though only 7% find it most effective for lead generation.

Get Agent, and the Best Estate Agent Guide have notable usage rates for listings, at 49% and 39%, respectively, but neither is perceived as the leading platform for lead generation, indicating they serve more supportive roles in agents’ marketing mixes.

Interestingly, Prime Location and Home.co.uk are used by many agents for listings (57% and 35%, respectively), yet neither is reported as the most effective lead source. This suggests that their roles are supplementary or serve specific market segments.

The lack of any agent-identifying platforms like Prime Location, All Agents, Home.co.uk, Best Estate Agent Guide, or View Agents as the most effective for lead generation shows that while these platforms are part of the marketing mix, they do not rival Rightmove’s impact.

These insights reflect the strategic decisions agents make in allocating their marketing efforts, opting to invest in platforms with the highest return on investment in lead generation, with Rightmove being the clear leader in the UK market.

How do you best demonstrate the job you’re doing for your clients to help reinforce any ‘word of mouth’?

We use Net Promoter Scores (NPS)

We use industryspecific review sites like AllAgents and The ESTA’s

We have our own testimonials section on our website.

We use reviews and testimonials as part of our market appraisal pitch.

We use generic review sites like Google, Facebook,Feefo & Trustpilot

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey data reveals how real estate professionals leverage feedback to enhance their word- of-mouth reputation. As indicated by 75% of respondents, the most popular method is using generic review sites like Google, Facebook, Feefo, and Trustpilot. This suggests that a broad online presence and the visibility of client satisfaction on widely used platforms are crucial to reinforcing their service quality.

Additionally, 60% of agents include reviews and testimonials in their market appraisal pitches, demonstrating positive client experiences as a direct selling point to prospective clients.

Over half, at 54%, maintain a testimonials section on their website, providing a curated showcase of client feedback that can help build trust and credibility with site visitors.

25% of agents utilise industry-specific review sites such as AllAgents and The ESTA's, suggesting that specialised platforms also play a role in the industry, though to a lesser extent than more generic and widely accessible ones.

Only 7% of respondents utilise Net Promoter Scores (NPS) to gauge and communicate client satisfaction, reflecting a need for more awareness of the metric's specific application in assessing customer loyalty.

Lastly, '3% note Other' methods indicate that some agents may employ alternative or innovative strategies to demonstrate their effectiveness to clients.

These insights underscore the importance of client feedback in the real estate industry and illustrate the variety of methods used to communicate success and client satisfaction as part of a broader reputation management strategy.

Which social media platforms do you use personally to create new business?

How much more growth agents use different social media compared to all agents (Great than 100, use it more, less than 100, use it less) Index

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Across all social media, growth agents are 8% more active.

The survey results provide insight into the social media usage of real estate agents for business development, comparing all agents with those who have experienced growth and are labelled as 'Growth Agents.'

Facebook stands out as the most utilised platform, with a significant 85% of all agents and an even higher 93% of growth agents, suggesting its importance in generating business in the real estate industry.

Instagram also shows high usage, with 76% of all agents and 80% of growth agents using it, reflecting the platform's effectiveness for visually driven content like property photos and videos.

LinkedIn is another central channel used equally by 70% of all agents and growth agents, indicating its value for professional networking and brand establishment in the industry.

YouTube is utilised by 35% of all agents and 37% of growth agents, highlighting the growing trend of video content as a medium for engaging potential clients and showcasing properties.

TikTok and X/Twitter are used by 21% of all agents, with a slight increase among growth agents at 22%, pointing towards the emerging role of these platforms in engaging with a broader audience.

Notably, a small percentage of agents are not members of any social media, at 4% for all agents, while none of the growth agents fall into this category, emphasising the importance of social media presence for business expansion.

Platforms with minimal impact, such as Meetup, MySpace, Reddit, Snapchat, Tumblr, Pinterest, and Threads, still see some usage but appear less significant than the major social networks.

These findings suggest that for agents focused on growth, a robust social media strategy across multiple platforms, especially those with high visual and engagement potential, is critical to their business development activities.

What is your biggest frustration with marketing in your business?

The biggest frustrations with marketing in businesses, according to the responses provided, can be grouped into several key categories:

1. Budget Constraints: Many struggle with insufficient budget to create desired content or roll out necessary marketing strategies. Additionally, concerns are raised about the cost versus effectiveness of marketing efforts.

2.Time Management: Time is a constant challenge, with frustrations revolving around the delay in seeing results from marketing efforts, the relentless pace of change, and the struggle to find time for strategy development and implementation.

3. Content and Strategy Development: Challenges include creating the right message for the right people, developing ideas, and generating valuable content. Finding the right companies for lead generation and developing a clear marketing plan are also issues.

4. Branding and Consistency: Respondents mention a lack of consistency, a clear brand identity, and the need to change a bad company logo or brand.

5. Digital Marketing Challenges: Issues with Facebook's algorithm changes, difficulty dealing with fake Google reviews, and reaching audiences on social platforms are noted.

6. Lead Generation and ROI: Concerns are related to the uncertainty of what drives leads, measuring return on investment (ROI), and the effectiveness of various marketing choices.

7. Knowledge and Expertise: Some respondents need more knowledge or time to research the best marketing strategies.

8. Company Buy-In: There are mentions of owners not wanting to spend money on marketing and struggling to compete for brand awareness due to budget limitations.

Overall, the common thread through all responses is the need for more resources to create effective marketing that delivers results, whether time, money, or knowledge

Is your marketing primarily run internally or externally?

Don't know

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey data indicates that most marketing efforts within the real estate sector are managed internally. A significant 47% of respondents have their marketing run internally by staff members who are not specialised in marketing, suggesting that many real estate businesses may need to leverage the versatility of their teams to handle marketing tasks alongside other responsibilities.

Additionally, 42% of respondents have dedicated internal marketing teams, highlighting the importance placed on marketing within the industry and the preference for retaining control over marketing strategies and execution.

Only a small fraction, 8%, rely primarily on external agencies or consultants for their marketing needs. This could reflect budgetary decisions, a desire for specialised expertise, or the scale of the marketing operations that require outside help.

A minority of 3% is uncertain about how their marketing is managed, indicating either a lack of involvement or awareness of the marketing strategies within their company.

Overall, these insights suggest that in-house marketing operations are the norm in the real estate sector, with an emphasis on integrating marketing into the team's broader skill set or investing in specialised internal marketing departments. The data also reflects a relatively low outsourcing rate for marketing activities, which cost considerations might influence the need for industry-specific marketing knowledge or a preference for direct oversight.

Primarily internally, by a dedicated marketing team

Primarily internally, by other non marketing members of staff

Primarily externally, e.g. using a marketing agency/consultant

Voice of the Consumer on Estate & Letting Agents

Thinking about looking for a new property, how do you tend to look?

Source: YouGov, Profiles, 12 months to 24th March 2024

Among individuals intending to buy or sell a home within the next 12 months, a significant 38% prefer the convenience of conducting their property search entirely online. A majority of 46% find a balance by combining online and offline methods, while 14% split their search equally between online and offline channels.

Only 1% opt for a predominantly offline approach, with minimal online involvement, while another 1% rely solely on offline methods. These findings suggest a significant reliance on

online platforms for property searches among this demographic and reassure them about the convenience of this trend.

This pattern is consistent across private landlords and tenants looking to rent from private landlords, indicating a broader trend towards digitalisation in property search methods nationwide.

Thinking about how brands engage with customers digitally, which types of content, if any, is more likely to capture your attention?

Source: YouGov, Profiles, 12 months to 24th March 2024

Individuals planning to buy or sell a home in the next 12 months exhibit diverse preferences for digital content formats that capture their attention.

Images emerge as the most effective content format, with 33% of respondents indicating a solid inclination towards visual content. Short-form videos, quizzes, and polls also garner significant attention, with 25%, 24%, and 24% of respondents expressing interest.

This preference for interactive and visually engaging content is consistent across different segments within the real estate sector, including private landlords and tenants seeking to rent from private landlords.

These findings underscore the importance of utilising visually appealing and interactive content formats to engage with potential home buyers and sellers digitally.

Brand awareness: Advertising channels that grab your attention

Source: YouGov, Profiles, 12 months to 24th March 2024

Regarding brand advertising, the preference for digital channels is clear among individuals planning to buy or sell a home within the next 12 months. A significant 55% prefer digital advertising, a trend also evident among private landlords and tenants. However, it's important to note that traditional channels still hold some sway, with TV adverts being considered adequate by 47% of home movers. Other conventional channels such as billboards, in-store promotions, and radio also appeal moderately. These findings highlight the need for a diversified advertising strategy and the growing importance of digital channels in reaching potential home buyers and sellers.

Optimum Brand Awareness Mix

Sales Activation: Which, if any, of the following brand communications have ever led directly to a purchase

Source: YouGov, Profiles, 12 months to 24th March 2024

Brand communications significantly influence purchase decisions among individuals intending to buy or sell a home in the next 12 months. Notably, branded emails emerge as the most impactful communication channel, with 30% of respondents indicating that they have made a purchase because of receiving branded emails. Offers via social media platforms, such as Facebook and Twitter, also demonstrate considerable effectiveness, with 25% of respondents reporting a direct purchase influence. Additionally, direct mail campaigns and branded TV commercials prove influential, with 12% and 9% of respondents attributing purchases to these channels. These findings highlight the power of strategic communication efforts in driving purchase behaviour in the real estate market, particularly through email marketing, social media promotions and direct mail.

Optimum Sales Activation Mix

Which, if any, of the following social networks have you used within the last month?

Source: YouGov, Profiles, 12 months to 24th March 2024

When considering social network usage among individuals planning to buy or sell a home in the next 12 months, Facebook emerges as the most widely used platform, with a substantial 75% of respondents indicating recent activity on the site.

Instagram follows closely behind, with 62% of respondents reporting usage within the last month, highlighting its popularity for visual content consumption. YouTube also exhibits significant engagement, with 56% of respondents accessing the platform recently, indicating the importance of video -based content in real estate.

Other platforms such as LinkedIn, TikTok, and Snapchat demonstrate notable usage among home movers, reflecting the diverse social media landscape and the potential for targeted marketing efforts across multiple channels.

If you were a customer, what would your preferred channels of contact be for companies to advertise their products?

Source: YouGov, Profiles, 12 months to 24th March 2024

For individuals planning to buy or sell a home in the next 12 months, email emerges as the preferred channel for companies to advertise their products, with a substantial 49% indicating a preference for this mode of communication.

Social media messaging apps such as Facebook, Instagram, and WhatsApp are also popular, with 36% of respondents favouring these platforms for advertising outreach.

Direct mail retains significance, with 19% expressing a preference for physical mailings like flyers and coupons. Interestingly, face-to -face interactions in public places, malls, and stores are cited by 18% of respondents, indicating the enduring value of personal engagement in advertising campaigns.

Conversely, phone calls and SMS messaging are less favoured among this demographic, with only 4% and 9% preference, respectively.

Which, if any, of the following messaging apps and services do you use?

Not applicable – I don’t use any messaging apps/services

Source: YouGov, Profiles, 12 months to 24th March 2024

Regarding messaging app usage among individuals intending to buy or sell a home in the next 12 months, WhatsApp emerges as the most widely utilised platform, with 90% of respondents indicating usage.

Following closely behind is Facebook Messenger, with 66% of respondents using this platform for messaging. iMessage also maintains a notable presence, with 29% of respondents utilising this service.

A quarter of respondents use Microsoft Teams, suggesting its relevance for professional communication. Interestingly, a small percentage (3%) indicate they do not use any messaging apps or services, highlighting a minority in this digital communication landscape.

Microsoft Teams iMessage Facebook messenger Whatsapp

Buy/sell home in the next 12 months Private Landlords Rent from private landlord GB

Which of the following do you feel are the most important qualities vendors/landlords EXPECT from their estate/letting agent? They have…

Consumers Agents

A deep knowledge of the local sales/rental market

Experience in selling/renting similar properties to yours

Are great at presenting properties (e.g. great photography and clear descriptions)

A proven track record of achieving the asking price/rent

Great sales negotiating skills

A track record of selling/renting properties quickly

A good knowledge of property regulations (e.g. EPCs and/or building safety regs)

A methodical approach for completing the purchase / managing the tenancy

Good knowledge about the conveyancing process

The ability to help me with my onward purchase

Are qualified with an industry related qualification

Are members of an industry association

A good knowledge of tax rules and financial solutions

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Source: Opinium, Research Dates 15th March 2024 to 19th March 2024, Sample 2,000 adults 18+

The survey data contrast real estate agents' and consumers' perceptions of the most important qualities expected from an estate or letting agent.

Agents believe that vendors/landlords value deep knowledge of the local sales/rental market as the top quality, with 88% of agents agreeing, compared to 45% of consumers. This disparity suggests that while industry professionals prioritise market knowledge, consumers may not hold it in the same regard, or it may be an expected baseline quality that doesn’t differentiate agents in their eyes.

Experience in selling/renting similar properties is highly regarded by agents (79%) and significantly less so by consumers (43%), indicating agents see their track record in dealing with comparable properties as a significant selling point. In contrast, consumers may consider other factors more heavily.

Presentation of properties is another area where agents (57%) feel they need to excel, compared to 36% of consumers. This shows that agents believe in the power of strong marketing materials more than consumers appear to. Achieving the asking price/rent is seen as crucial by most agents (54%) and a notable but smaller proportion of consumers (38%), pointing to the importance placed on results by agents.

Interestingly, consumers value qualifications, association memberships, and tax knowledge more than agents, suggesting that consumers may use these as indicators of credibility and professionalism. The overall correlation in responses is high at 91%, indicating that while there are differences in the degree to which agents and consumers value certain qualities, there is a general agreement on what is essential in an agent. This data can guide agents in aligning their services and communications to better meet their clients' expectations and values.

Imagine you’re in the process of purchasing a new home. Given the home is within your price range, how important is experiencing ‘love at first sight’ when deciding which home to buy?

Source: Opinium, Research Dates 6th February 2024 to 9th February 2024, Sample 2,000 adults 18+

The data presents a sentiment analysis from consumers in Great Britain on the importance of experiencing 'love at first sight' when deciding to purchase a new home within their price range. It reveals that a substantial majority (70%) of respondents find the concept of 'love at first sight' to be at least somewhat important to their decision-making process, with 'Very Important' and 'Fairly Important' collectively accounting for nearly half of the responses (49%).

A smaller segment (14%) feels this is only 'A bit important', while a mere 5% deem it 'Not at all important'.

Notably, there's a significant proportion of indecision or neutrality, with 10% of respondents 'Not sure' about the significance of immediate emotional connection to the purchasing decision.

This suggests that emotional appeal is a significant factor for most homebuyers, which could inform real estate marketing and presentation strategies. However, it is worth noting that while 'love at first sight' is a factor for many, it competes with other practical considerations, as evidenced by the range of responses.

The data also highlights uncertainty in the buying process, indicating that some consumers might prioritise other factors more heavily or may not have a predetermined notion of the importance of instant appeal in their decision-making process.

Which of the following services would a vendor/landlord NEED an estate/letting agent to provide for them to consider using them?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Source: Opinium, Research Dates 15th March 2024 to 19th March 2024, Sample 2,000 adults 18+

The survey results indicate vendors’, landlords’, and consumers’ perceived needs from estate/letting agents and how these needs are prioritised.

Agents think vendors place the most importance on professional floorplans (77%), suggesting that detailed presentations of properties are crucial to them, ranking it as their top need. Professional photographs are also highly valued (71%), reflecting the importance of visual appeal in property listings, and these rank second in vendors’ priorities.

Agents think landlords’ highest priority is providing an Energy Performance Certificate (EPC) at 27%, focusing on compliance and energy efficiency, ranking first in their list. This is followed by guidance on getting their house ready for sale/rent (20%), suggesting that practical support is highly valued, ranking second.

Consumers echo the importance of listing properties on more than one online portal (48%), suggesting that visibility across multiple platforms is critical and ranks as their top priority.

For agents, listing on multiple portals ranks third for vendors, fifth for landlords, and first for consumers, illustrating a discrepancy in perceived importance between what agents think vendors and landlords value most versus consumers.

Professional photography ranks consistently high across all groups, signalling the universal recognition of its impact on attracting interest. For landlords, this service ranks lower at tenth, suggesting less emphasis on visual marketing.

EPCs are deemed the most crucial by landlords, reflecting the regulatory obligations landlords face, but for consumers, it’s a lower priority, ranking seventh.

Services like video promotion and home staging are seen as less essential, with vendors and landlords ranking them lower on the scale while introducing a mortgage advisor is considered the least important by both vendors and landlords.

Overall, the survey demonstrates that while certain services are universally acknowledged as necessary, the weight given to each service varies between vendors, landlords, and consumers. This emphasises the need for agents to tailor their offerings to meet the specific expectations of their client base.

There is a great deal of agreement between agents’ perceptions and what consumers say on their highest and lowest priorities. That said, even the lowest services are NEEDED by at least one in ten consumers, so the best strategy is to offer all of the above.

How many estate/letting agencies do you think the average person recalls off the top of their head?

All Agents Customers

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Source: Opinium, Research Dates 15th March 2024 to 19th March 2024, Sample 2,000 adults 18+

The survey results indicate the number of estate/letting agencies the average person recalls off the top of their head, with agents and consumers showing differing recall patterns.

Agents estimate that the average person recalls approximately 3.17 agencies, while consumers estimate it to be around 3.0.

For agents, the most common response is that the average person recalls three agencies (42%), followed by two agencies (19%). Conversely, consumers most commonly recall two agencies (15%) and three agencies (17%).

Few respondents believe that the average person recalls more than five agencies, with only a small percentage suggesting a recall of six or more.

Interestingly, a significant portion of consumers (20%) indicate that they can't remember any specific agencies, highlighting the challenge of maintaining brand recall in a competitive market.

These findings suggest that while the average person may recall a few agencies, brand recognition and recall remain crucial for agents seeking to capture market attention and stand out among competitors.

A question of trust: Thinking about your most recent interaction with an estate or letting agent to what extent did you trust them to work in your best interest? Interactions could include buying, selling, letting or renting, as a homeowner, landlord, and/or tenant

Source: Opinium, Research Dates 8th

Article ‘Estate Agents Remain Among Least Trusted Professions (or do they?)’ (December 2023, Estate Agent Today

)

Yesterday's 2023 Ipsos Veracity Index also casts a revealing light on the real estate sector, with trust in real estate agents remaining static at 28%, positioning them fifth from the bottom among professions. This unchanged result indicates a persistent public wariness toward estate agents, underscoring a vital area for the industry to address.

Despite fluctuations in trust across various professions, the estate agency's consistent placement near the lower end of the spectrum suggests a significant opportunity for the profession to rebuild and enhance public confidence.

Knowing these annual results were coming, We Are Unchained conducted a survey between December 08 and December 12, 2023, with a sample size of 2,000 UK adults. The results revealed nuanced perceptions of trust toward estate and letting agents nationwide.

The data indicates that most UK adults exhibit much higher levels of trust towards agents if they dealt with one, with 61% trusting them to a certain degree and 15% expressing high trust. 28% of adults have never interacted with an estate or letting agent.

Demographic insights reveal that trust levels vary notably across age groups, with younger adults (18-34 years) displaying the highest trust at 75% and 25% trusting agents a lot' or 'completely.' This contrasts with the over 55 age group, where only 53% express some level of trust, and 13% trust agents a lot or completely. Trust declines with age.

The South West and East of England are leading the way regionally, with 67% and 66% of respondents expressing trust, respectively, followed closely by London at 65%. On the city scale, Southampton, Norwich, and Leeds top the list with 73%, 71%, and 66% trust levels. In contrast, the North East has the lowest regional trust level at 52%.

Among cities, Brighton exhibits the least trust at 52%, with Newcastle and Sheffield also reflecting lower trust levels at 53% and 54%.

These findings suggest significant regional and urban variances in public perception that could be reflective of local market conditions, or the quality of service provided by the estate and letting professionals.

Homeownership status further influences trust, with 59% of outright owners and 73% of those with a mortgage trusting agents, compared to 65% of private tenants expressing trust in their letting agent. This suggests that the type of property ownership may impact the frequency and quality of agent interactions.

"Our findings present a complex picture of trust in the real estate industry," said Simon Leadbetter, founder of We Are Unchained. "The IPSOS Mori results are the annual occasion for the industry to flagellate itself for low trust. But it is much more nuanced than that. Just as people dislike politicians collectively, they often trust their local MP if they have dealt with them. The same applies to estate and letting agents.

"So, we asked, 'Thinking about your most recent interaction with an estate or letting agent, to what extent did you trust them to work in your best interest?'

"The differences in trust levels, especially when viewed through the lenses of age, geography, and homeownership status, underscore the need for the industry to address these discrepancies and build stronger relationships with all population segments.

"Our study also revealed a very low level of distrust in estate and letting agents across every demographic segment and region of the UK population. Notably, 15% of individuals aged 35 to 54 report a complete lack of trust in these professionals. Areas like the South East expressed the highest levels of distrust at only 17%.

"Individual estate and letting agents are doing okay, but the industry has a reputation issue."

Unchained is committed to delving deeper into these findings to support improving practices within the real estate and letting industry, ensuring that agents work effectively in the best interest of all individuals involved in the property market.

The Portals

Which of the following property brands have you *ever* heard of?

Please select all that apply.

Source: YouGov, Profiles, 12 months to 24th March 2024

Rightmove leads with a significant 96% awareness among home movers, indicating its strong presence in the market. Zoopla closely follows with 92% awareness, reflecting its considerable reach among potential buyers and sellers. OnTheMarket also demonstrates noteworthy awareness among home movers, standing at 57%.

These findings underscore the dominance of established property brands in the minds of those intending to buy or sell homes in the next 12 months. With such high levels of awareness, these platforms will likely remain pivotal in the decision-making process for individuals navigating the property market, offering buyers and sellers extensive engagement and visibility opportunities

When you are in the market next to use a service from a property brand, from which of the following would you consider?

Source: YouGov, Profiles, 12 months to 24th March 2024

Rightmove emerges as the top consideration among home movers, with 73% expressing willingness to use its services when they enter the property market. Zoopla follows, also commanding a substantial consideration rate of 47%. OnTheMarket, while trailing the others, still garners consideration from 21% of home movers.

These figures highlight the strong appeal and trust associated with leading property brands among individuals intending to buy or sell homes in the next 12 months. The notably higher consideration rates compared to the general population (GB) underscore the relevance and attractiveness of these platforms, specifically within the target audience, signifying their importance in facilitating property transactions.

From which of these would you be most likely to use?

Source: YouGov, Profiles, 12 months to 24th March 2024

Among individuals intending to buy or sell homes in the next 12 months, Rightmove stands out as the preferred choice, with 59% expressing a likelihood to use its services. Zoopla follows, albeit at a lower rate of 16%, while OnTheMarket captures 4% of the preference.

These figures underscore Rightmove's dominant position in the property market, with a significantly higher likelihood of being utilised than its competitors. The substantial preference for Rightmove among home movers highlights its perceived value and effectiveness in facilitating property transactions, reinforcing its status as a preferred platform for individuals actively engaged in the property market.

Have you used or visited any of the following brands in the past 12 months?

Source: YouGov, Profiles, 12 months to 24th March 2024

Among individuals intending to buy or sell homes in the next 12 months, a significant proportion have utilised or visited property brands within the past year. Notably, Rightmove emerges as the most frequented platform, with 60% of home movers having engaged with it, indicating a strong presence and usage among this demographic. Zoopla follows with a considerable usage rate of 37%, while OnTheMarket lags behind but still garners notable usage among home movers, with 15% having interacted with the platform.

These figures highlight the active engagement of individuals in the property market with these brands, especially Rightmove and Zoopla, reflecting their popularity and relevance in the real estate industry.

What is the total portal audience of the three main players?

Rightmove has 93.14 million monthly visits and has the highest score across visit duration, pages per visit, bounce rate and page views. But what does that mean in real people?

Engagement

Source: SimilarWeb, December 2023 to February 2024

YouGov asks a representative and statistically significant sample of the British population whether they have used different portals in the last 12 months. From that, we can see the audience of each portal and its duplication with others. 21.5 million adults have visited one of the three main portals in the last 12 months.

Source: YouGov, Profiles, 12 months to 24th March 2024

Summary

The YouGov data gives a comprehensive look at the reach of the UK's leading property portals among the population over the past year. Figures suggest that, while Rightmove has many monthly visits, according to Similar Web, the number of unique annual visits is 17.425 million. This contrasts the 93.14 million monthly visits reported, which likely include multiple visits by the same UK adults, automated traffic, and visitors from outside the UK.

Zoopla's total annual audience is 10.5 million, while OnTheMarket's is much lower at 2.52 million. The overlap in audiences, those who have visited more than one of these portals, is often large, such as the 7.114 million shared between Rightmove and Zoopla. Excluding those who also visited OnTheMarket, reduces this overlap to 6 million. This indicates that many of Rightmove and Zoopla's audience are not exclusive to one platform.

For OnTheMarket, the overlap with Rightmove is 1.493 million, but when excluding those who also visited Zoopla, the unique overlap audience is 0.379 million. Similarly, the Zoopla and OnTheMarket overlap is 1.413 million, but excluding the overlap with Rightmove, only 0.299 million unique users visited both Zoopla and OnTheMarket.

Regarding the unique audiences, Rightmove has the largest at 9.932 million adults, representing 57% of its total audience as unique. Zoopla has 3.087 million unique visitors (29%), and OnTheMarket has 0.728 million unique visitors (29%).

This analysis reveals the individual reach of each portal and the degree to which their audiences overlap, suggesting that many adults in the UK are using multiple platforms to address their property-related needs. It also underscores that high web traffic does not necessarily equate to a distinct user base. Repeat visitors can inflate the number of visits and do not directly translate to a unique audience size.

Summary

• Rightmove total annual audience 17.425m adults

• Zoopla total annual audience 10.5m

• Onthemarket total annual audience 2.52m

• Overlapping audiences

o Rightmove/Zoopla/Onthemarket overlap: 1.114m

o Rightmove/Zoopla overlap: 7.114m

o Rightmove/Zoopla excluding Rightmove/Zoopla/Onthemarket overlap: 6m

o Zoopla/Onthemarket overlap: 1.413m

o Zoopla/Onthemarket excluding Rightmove/Zoopla/Onthemarket overlap: 0.299m

o Onthemarket/Rightmove overlap: 1.493m

o Onthemarket/Rightmove excluding Rightmove/Zoopla/Onthemarket overlap: 0.379m

• Unique audience

o Rightmove only: 9.932m (57% unique)

o Zoopla only: 3.087m (29%)

o Onthemarket only: 0.728m (29%)

Which of the following property brands would you RECOMMEND to a friend or colleague Minus Which of the following property brands would you tell a friend or colleague to AVOID

Net Recomendation

Those who will recommend a brand minus those who say you should avoid that brand

Home Movers

Source: YouGov, Profiles, 12 months to 24th March 2024

Among individuals intending to buy or sell homes in the next 12 months, Rightmove emerges as the clear leader in terms of recommendation, with an exceptionally high score of 99%. This reflects an overwhelmingly positive sentiment towards the platform, highlighting its strong reputation and user trustworthiness.

Zoopla also receives a substantial endorsement, with 81% of respondents expressing willingness to recommend it to others. Although slightly lower than Rightmove, this score still indicates significant satisfaction and confidence in Zoopla's services.

OnTheMarket follows closely behind, with 76% of respondents inclined to recommend it. While not as high as Rightmove and Zoopla, this score still reflects users' positive perception of OnTheMarket.

The net recommendation score for National Estate/Letting Agency Brands, representing a composite of 30 national agency brands, is notably lower at 38%. This suggests lower satisfaction and endorsement for estate/letting agency brands than the leading property portals.

Proptech Utilisation and Expectations

Which of these named data proptech companies do you know of and/or use

Have heard of it

Have heard of and use it regularly

Have heard of it and use it occasionally

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Based on the survey results, Homesearch is the most well-known proptech company among real estate and letting agents, with 85% of respondents having heard of it. Brief Your Market and Sprift follow closely, with 79% awareness, respectively. Sprift stands out as the most regularly used platform, with 25% of agents using it frequently.

On the other hand, Propertydealsinsight.com and Address Intelligence are the least known, with only 9% and 10% of agents having heard of them, respectively. EA2030 also has low awareness at 13%.

Interestingly, while Dataloft and TwentyEA have relatively high awareness levels (70% and 77%), their regular usage rates are lower at 11% and 10%, respectively. This will largely be due to their adoption and use by the larger companies.

Regarding your own proptech, what are the proptech providers you most regularly use and for which activity?

• Branding: The most frequently appearing name in the list provided is "Rightmove."

• Website Development: The most frequently appearing name in this list is "Property Jungle."

• Prospecting: The name that appears most frequently in this list is "Spectre."

• Market Appraisal: The most frequently mentioned name in this list is "Acaboom."

• Property Marketing: The name that appears most frequently in this list is "Rightmove."

• Progressions & Applications: The name that appears most frequently in this list is "Goodlord."

• Cross Sales / Additional Income: The name that appears most frequently in this list is "Goodlord."

• Property Safety Certificates: The names "N/A" and "Local" appear most frequently in the list.

• Property Management: The name that appears most frequently in this list is "Alto."

• Business Management, Administration & Operations: frequently in this list is "Xero."

Of all proptech that you use, which one offers the best user experience, and why do you say that?

• The proptech platform mentioned most frequently for

• offering the best user experience is

Based on the responses from the list, the most common reasons for using Street include:

• It is very informative and offers logical and practical solutions.

• The platform is highly valued for its ease of use.

• It provides quick and straightforward experiences that save users time, particularly in lettings progression.

• Some users mention its open API and integration capabilities as a plus.

• There’s also a mention of its impact on business operations and the simplicity of implementing it at a realistic price point.

Overall, users appreciate Street's simplicity, comprehensive information, practical tools, and positive impact on business efficiency.

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What is your biggest frustration with the proptech stack that you use?

The biggest frustrations with the Proptech stack, according to the responses provided, centre around several key issues:

1.Integration and Connectivity: A common issue is the lack of integration between different proptech solutions, CRM systems, and phone systems. Users find it frustrating that systems do not effectively link with each other, leading to inefficiencies like data repetition.

2.Multiple Logins: The need to log into too many different systems is mentioned as a hassle, indicating a desire for a more unified platform or a single sign- on solution.

3. Customisation and Features: Users desire more customisation options, settings, features, and quicker development of these aspects within their proptech solutions.

4.API Accessibility: Some people are frustrated with the limited number of suppliers that can integrate with an API, making it difficult to have a seamless workflow.

5.User Interface: Bad user interfaces are noted as a pain point, suggesting that the user experience could be improved in some proptech offerings.

6. Lack of Integration with General Tools: There is a specific frustration regarding the lack of integration with non-industry-specific tools like Slack, Outlook, Zapier, and Asana, which indicates a need for proptech to be versatile and adapt to various workflows.

7. Homogeneity: There is a concern that the widespread use of similar proptech will make businesses look the same, which could impact individual company branding and uniqueness.

8. Cost: Price is a concern, which suggests that the perceived value of the proptech is not always aligned with its cost.

These frustrations, while significant, also present an opportunity for improvement. They underscore a demand for more streamlined, integrated, user-friendly, and cost- effective proptech solutions. This is a hopeful sign that the industry is ready for positive change.

What is the one task you would like proptech to be able to do that you do manually at the moment?

People are looking for proptech solutions to automate and streamline various tasks that they currently perform manually, such as:

1. Identifying and Categorising Contacts: There is a desire for proptech to identify real landlords and register buyers, sorting them into categories based on their seriousness or potential as buyers.

2. Scheduling: Users want to automate scheduling, making it easier for the public to book appointments directly into their diary and automate viewing requests and the creation of viewing schedules.

3. Social Media: Some are looking for proptech solutions that can manage social media in a quality- oriented way and customise it to their agency’s needs.

4. Sales Progression: Automating sales progression is mentioned, indicating a need for systems that can track and manage the various stages of the sales process.

5. Lead Management: The desire to automate the task of importing leads from all sources into their CRM clearly indicates the potential time-saving benefits of automation, which could significantly improve lead management efficiency and relieve the audience of a significant workload.

6. Deposit Registration: Automating deposit registration with schemes like TDS custodial is a specific task that some would like to see addressed.

7. Financial Management: There is a desire for integration with financial accounts, such as integrating with more than one Xero account and handling invoicing tasks.

8. Custom Tasks: One response highlights a very specific need: handwriting brightly coloured envelopes and using 2nd- class stamps. This unique requirement underscores the understanding that every business always has distinct challenges, and technology might one day address them, making the audience feel understood and catered to.

9. Reporting: Users also desire proptech to generate monthly stats of the area, which suggests a need for market analysis and reporting features.

These responses underscore the demand for proptech to assume control over repetitive, time- consuming manual processes and emphasise the potential for increased efficiency and the liberation of real estate professionals to concentrate on more strategic activities, fostering a sense of optimism about the benefits of automation.

Adoption and Impact of AI

Do you use artificial intelligence (AI)

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey question asks whether real estate and letting agents use artificial intelligence (AI). The results reveal a nearly even split between those who do and those who don't.

A significant 44% of respondents confirm utilising AI technology in their professional activities. This suggests a growing adoption of AI- driven tools and solutions within the real estate industry as agents recognise the potential benefits of automation, data analysis, and predictive modelling.

However, most (56%) agents report not using AI in their current practices. The remaining questions on AI were not asked of them.

The findings highlight the need for further education and awareness about AI's potential advantages for agents who still need to leverage these technologies.

What top three AI tools do you use, if any?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

This chart rather speaks for itself. ChatGPT dominates. Others mentioned were Google Gemini/Bard, Adobe Creative Suite (Photoshop Generative AI), Jasper, and Copy.ai.

How often do you use AI?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey question explores the frequency of AI usage among real estate and letting agents who have adopted this technology in their work.

A majority (58%) of agents report using AI every week. This suggests that AI has become a regular tool for many industry professionals, likely supporting various tasks such as data analysis, lead generation, and property valuations.

Nearly a quarter (23%) of respondents use AI daily, indicating a high level of integration into their business processes. AI may play a crucial role in streamlining operations, enhancing decision-making, and improving overall efficiency for these agents.

A smaller proportion of agents use AI less frequently, with 7% reporting monthly usage and 12% using it even less often. This could be due to the nature of their specific roles or a more cautious approach to adopting new technologies.

The results underscore the growing importance of AI in the real estate sector, with a significant majority of adopters using it daily or weekly to support their professional activities.

How helpful do you find AI?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

A significant majority (75%) of respondents find AI to be either extremely helpful (40%) or very helpful (35%) in their professional activities. This suggests that AI is delivering tangible benefits to these agents, likely in the form of increased efficiency, improved decisionmaking, and better outcomes for their clients.

Nearly a quarter (23%) of agents consider AI somewhat helpful, indicating that while they derive some value from the technology, there may be room for improvement or further optimisation to meet their needs.

Only a tiny fraction (2%) of respondents finds AI not so helpful, and none of the agents surveyed consider it not at all helpful. This overwhelming positive sentiment underscores the effectiveness of AI in addressing the challenges and opportunities faced by real estate professionals.

The results demonstrate the strong positive impact of AI on the real estate industry, with a clear majority of adopters finding it highly beneficial to their work.

What do you use AI for in your business? (Please tick all that apply)

Word Content Production

Marketing

Image Content Production

Customer Service and Engagement

Automating Business Processes

Sales

Data Analysis and Insights

None of the above

Recruitment and Talent Sourcing

Finance and Accounting

Cybersecurity and Fraud Management

Supply Chain Operations

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

A majority (74%) of respondents use AI for word content production. This suggests that AIpowered tools for creating property descriptions, reports, and other text-based content are widely adopted and highly valued by agents.

Marketing is another widespread use case, with 28% of agents leveraging AI to personalise user experiences and enhance their marketing efforts. AI's ability to analyse customer data and preferences allows agents to deliver targeted, relevant content to potential clients.

Image content production (23%), customer service and engagement (21%), and automating business processes (21%) are also typical applications of AI among professionals. These findings highlight the versatility of AI in supporting a variety of aspects of the real estate business, from visual content to streamlining tasks and improving customer interactions.

AI is less commonly used for data analysis and insights (12%), sales and lead generation (18%), and recruitment and talent sourcing (4%). This may indicate potential areas for growth and adoption as more agents recognise the benefits of AI in these domains.

The survey also reveals that AI is rarely used for cybersecurity and fraud management (2%), finance and accounting (2%), and inventory management or supply chain operations in the real estate context.

Overall, the results demonstrate that real estate agents primarily use AI for content creation, marketing, and automating various business processes. There is significant potential for expanded application across other areas of their operations.

What is the one task you would like AI to be able to do that you do manually at the moment?

The tasks that people would like AI to handle, which are currently performed manually, include:

1. Diary and Task Management: Managing daily schedules and tasks would help organise time and ensure that all critical tasks are accounted for and completed.

2. S ocial Media Management: Improving social media engagement, possibly through automated posting, content creation, or interaction with followers.

3.Automating Viewings: Scheduling and managing property viewings would streamline and improve the appointment process.

4.Auto -Responding to Sales Progression: Automating various stages of sales progression to expedite transactions and reduce the manual tracking and follow-ups required.

6. Compliance Checks: Analysing property safety certificates to ensure they comply with relevant regulations reduces the risk of oversight and the burden of manual checks.

7. Transcription: Transcribing calls automatically, which could be used for record-keeping, training, or legal compliance.

8. Data Retrieval: Download invoices from utility suppliers and even process them, which would help with financial management and record-keeping.

9.Content Creation: Creating relevant, authentic images to match word content could assist in marketing and online presence.

10. Business Development: Generating new business opportunities, perhaps through lead generation or market analysis.

These responses indicate a strong desire for AI to take on repetitive administrative tasks, data analysis, content creation, and customer engagement, allowing professionals to focus on more value-added activities.

Regulation and Government

Regulations

Do you believe all estate/letting agents should have formal qualifications and be regulated to provide minimum standards?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Source: Opinium, Research Dates 15th March 2024 to 19th March 2024, Sample 2,000 adults 18+

Most consumers (79%) believe that estate and letting agents should have formal qualifications and be regulated. This suggests a strong public desire for professional standards and accountability in the real estate sector, likely stemming from the importance and complexity of property transactions.

Most agents (81%) also support formal qualifications and regulations. This indicates a recognition within the industry that such measures could enhance the quality of service, protect consumers, and improve the profession's reputation

However, a notable minority of agents (17%) do not believe that formal qualifications and regulations are necessary. This may reflect concerns about the potential costs and bureaucracy associated with such requirements or a belief that existing market forces are sufficient to maintain standards.

Only a smaller number of consumers (17%) and a fraction of agents (2%) do not have a clear opinion, suggesting that this issue is important to both groups.

The results highlight a strong consensus among consumers and a clear majority of agents favouring formal qualifications and regulations to ensure minimum standards in the estate and letting agency industry.

Consumers only: To what extent do you agree or disagree with the following statements

Estate & Letting agents should have formal qualifications and be regulated to provide minimum standards

Estate & Letting agents should be DBS (Disclosure and Barring Service - criminal records) checked

Source: Opinium, Research Dates 15th March 2024 to 19th March 2024, Sample 2,000 adults 18+

Our consumer survey question gauged the agreement among respondents regarding two related statements: whether estate and letting agents should have formal qualifications and be regulated to provide minimum standards and whether they should undergo DBS (Disclosure and Barring Service) checks for criminal records.

Most respondents agree that estate and letting agents should have formal qualifications and be regulated, with 46% strongly agreeing and 34% somewhat agreeing. This results in 79% of respondents agreeing, indicating a widespread belief that such measures are necessary to ensure professional standards and protect consumers.

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Similarly, a significant majority (74%) agree that estate and letting agents should be subject to DBS checks, with 45% strongly agreeing and 29% somewhat agreeing. This suggests a strong public interest in ensuring that agents dealing with sensitive personal and financial information have no relevant criminal history.

Only a small minority of respondents disagree with either statement, with 3% somewhat disagreeing and 1% strongly disagreeing. This indicates limited opposition to formal qualifications, regulations, and DBS checks.

A moderate proportion of respondents (13% and 16%, respectively) neither agree nor disagree with the statements, while a small percentage (4% and 6%) don't know. This may reflect a lack of familiarity with the issues or a need for more information to form an opinion.

Overall, the results demonstrate strong public support for enhancing estate's professionalism, accountability, and trustworthiness and letting agents through formal qualifications, regulation, and criminal record checks.

Which, if any, of the following would you prefer?

The UK and USA have very different estate agency and real estate standards regarding estate agent and realtor qualifications, regulations, and fees. The USA has strict qualification criteria and regulations with fees from 4.45% to 6.34%. The UK has no qualification criteria, less strict regulations, and average fees of 1.18%. Which, if any, of the following would you prefer ?

Current regulation and current fees

Not sure, 26%

None of these, 4%

Much stricter regulation and much higher fees (USA-level fees of 4% or greater), 6%

Lighter regulation and lower fees

(Fees under 1%), 13%

(Fees around 1%), 31%

More regulation and higher fees

(Fees up to 4%), 19%

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Summary

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The initial finding from the research indicates that 79% of consumers advocate for formal qualifications and regulation for estate/letting agents, which underscores a significant consumer demand for professionalism and accountability within the industry.

This strong consensus for enhanced regulation and qualifications suggests that consumers prioritise trust and standardised service in their transactions, likely driven by the desire to protect their substantial financial and personal investment in property dealings.

However, consumer preferences shift notably when confronted with the potential cost implications of increased regulation - illustrated by the higher agent fees in the more regulated US market. Only 19% of respondents favour the trade- off of more regulation for higher fees (up to 4%), and even fewer, 6%, would endorse a move to the much stricter US standards with fees of 4% or greater.

The majority preference leans towards maintaining the current UK framework of regulation with lower costs (31%), and a significant proportion of respondents (26%) are uncertain, suggesting that while there is a clear appetite for some form of regulatory framework, the willingness to absorb the associated costs is limited. This delineates a complex consumer landscape where the perceived value of regulation is counterbalanced by the direct financial burden it may impose.

Why as agents do you support/oppose formal qualifications/regulations

The debate over whether all estate/letting agents should have formal qualifications and be regulated to ensure minimum standards revolves around various points of view, emphasising the importance of professional competency, consumer protection, and industry reputation.

Proponents of formal qualifications and regulation argue that it would:

1.Improve the quality of agents by ensuring they possess the foundational knowledge and skills necessary to perform their duties effectively.

2.Enhance customer experience and change industry perceptions, potentially justifying higher fees due to improved service quality.

3.Establishing a higher entry barrier could Increase respect for the profession, leading to greater professional recognition and potentially higher fees.

4.Eliminate unqualified or unethical practitioners from the industry, protecting consumers from poor service and fraudulent activities.

5.Introduce professionalism into the industry by setting standardised expectations for knowledge, skills, and ethical behaviour.

6.Protect consumers from dishonest or incompetent agents, improving industry trust.

7.Raise professional standards across the industry, ensuring that agents are competent in handling complex legal transactions and providing accurate advice.

On the other hand, opponents of mandatory qualifications and regulation argue that:

1.Experience and personal qualities such as integrity, work ethic, and interpersonal skills are crucial in real estate and may not be enhanced by formal education.

3.Existing qualifications and regulatory efforts may be ineffective or insufficient, with critics pointing out that some current measures must adequately address the industry's challenges.

4.Mandatory qualifications could be burdensome, especially for experienced agents who believe their years of successful practice demonstrate competency without formal credentials.

5.The focus should be on continuous professional development (CPD) rather than initial qualifications for experienced agents to ensure they remain current with industry developments and legal requirements.

The debate over formal qualifications and regulation underscores a nuanced scenario where professional standards, consumer protection, and acknowledgment of personal attributes must be balanced. It emphasizes the crucial need for an efficient mechanism to ensure competency and ethical conduct among estate/letting agents, whether achieved through education, regulation, experience, or a blend thereof.

The Economy

Do you expect overall economic conditions in the UK to be better or worse 12 months from now?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey question asks agents to predict the overall economic conditions in the UK 12 months from now, compared to the current situation.

A significant proportion of respondents (44%) expect economic conditions to be either better (43%) or a lot better (1%) in a year. This suggests a prevailing sense of optimism about the future of the UK economy among a substantial minority of the population.

However, about a third of respondents (34%) believe that economic conditions will remain unchanged over the next 12 months. This indicates a level of uncertainty or a belief that the current economic situation will likely persist soon.

A smaller but still notable proportion of respondents (22%) expect economic conditions to either worsen (19%) or be a lot worse (2%). This suggests that around one in five agents are pessimistic about the UK's economic future.

The summary shows that 44% of respondents anticipate improving economic conditions, 22% foresee a deterioration, and 34% expect no change. This picture suggests a mix of optimism and concern, with a significant proportion of the population believing the economy will remain stable in the coming year.

The findings highlight the complex and varied perceptions of the UK's economic prospects, balancing agents' positive, neutral, and negative expectations.

Do you believe the Government's current economic plans will improve or worsen the economic outlook over the next 12 months?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Nearly a third of respondents (32%) believe that the Government's economic plans will either improve (29%) or improve a lot (3%) the economic outlook in the coming year. This suggests a level of confidence among a significant minority that the Government's policies will positively affect the economy.

However, almost half of the respondents (46%) think the Government's plans will not affect the economic outlook. This indicates a widespread perception that the current policies may not be sufficient to alter the economic trajectory significantly or that their impact will be limited.

Approximately one in five respondents (22%) believe that the Government's economic plans will either worsen (20%) or worsen a lot (2%) the outlook for the UK economy. This suggests a level of scepticism or concern among a notable minority about the current policies' effectiveness or potential negative consequences.

The summary percentages show that 32% of respondents expect the Government's plans to improve the economic outlook, while 22% anticipate a worsening, and 46% foresee no change. This overall picture suggests a mix of opinions, with a slightly larger proportion holding a favourable view compared to those with a negative outlook, but a significant number of people believing that the plans will have a neutral impact.

The findings highlight the diverse perceptions of the Government's economic policies and their potential effects on the UK's economic prospects over the next 12 months.

Politics

Who would you vote for if the United Kingdom had a General Election tomorrow?

Full question: This is a strictly anonymous survey. We use this question solely to benchmark the industry against home movers, landlords, tenants, etc, and industry peers: Who would you vote for if the United Kingdom had a General Election tomorrow?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

This anonymous survey asked real estate and letting agents about their voting intentions if a UK General Election were held the following day. The results provide an intriguing glimpse into this professional group's political leanings and how they have shifted between 2023 and 2024.

In 2024, the Conservative and Unionist Party emerged as the most popular choice, garnering 31% of the hypothetical vote, up slightly from 28% in 2023. The Labour Party saw a more substantial increase, rising from 17% in 2023 to 22% in 2024. Interestingly, the proportion of agents who were undecided or preferred not to disclose their voting intention dropped significantly from 44% in 2023 to 25% in 2024, suggesting a potential crystallisation of political preferences.

Support for Reform UK (formerly the Brexit Party) and the Liberal Democrats grew moderately, while the Green Party and devolved parties remained marginally represented.

Every month, YouGov asks Brits adults, "Here is a list of problems facing the country. Could you say for each of them which political party you think would handle the problem best?"

Which political party would be the best at handling housing?

Source: YouGov 1,627 - 1820 GB Adults per wave

YouGov data, which tracks which political party would be the best at handling housing? Most prominently, support for the Conservative Party has experienced a steady decline, plummeting from a robust 40% in 2018 to a more modest 25% by 2024. Conversely, the Labour Party has witnessed a resurgence, overtaking the Conservatives to become the frontrunner by 2024 with just over 30% of the hypothetical vote.

While the Liberal Democrats and other parties have maintained a relatively low and stable share of support, the proportion of "Don't know" responses surged dramatically in 20222023 before subsiding. This suggests a period of significant political uncertainty and indecision among the electorate. The graph offers valuable insights into UK voters' evolving sentiments and preferences during this transformative period.

Housing

Who is the biggest blocker in the UK housing crisis?

Full question: The UK is currently facing a severe housing crisis, with a shortage of affordable homes and rising prices keeping people off the property ladder. The housing crisis is regularly reported as Britain's most important domestic issue. Who is the biggest blocker in the UK housing crisis: the National Government, Local Government, Developers, local people's NIMBYism (Not In My Back Yard), or 'Other'?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey data reflects agent perception regarding the culpability of the UK's acute housing crisis. Most respondents, 51%, point to the National Government as the principal impediment to resolving the housing shortage and affordability issue, signifying a widespread belief that policy failures or inaction at the highest level of governance are at the heart of the crisis. This sentiment underscores a call for more robust and effective housing strategies, national reforms, and possibly a criticism of the current housing policies and their implementation.

Local Government is viewed as the next significant blocker, with 20% of the responses indicating that the regional administrative layer might need to be more active to alleviate the housing shortage, possibly due to local planning and development regulations or bureaucratic inefficiencies.

Meanwhile, local people's NIMBYism, the resistance to local development which can often result in the stalling or scaling back of housing projects, is identified as a critical issue by 11% of participants. This suggests that public resistance to development, though significant, is not perceived as the primary cause of the crisis.

Developers receive a smaller proportion of the blame at 9%, indicating that while there may be some concerns over their role, such as the potential prioritisation of profit over social responsibility, they need to be more widely seen as the main obstacle.

The 'Other' category, comprising 10% of responses, likely encapsulates a variety of less common or more specific concerns. This reflects the complexity of the issue and the fact that numerous other factors may be contributing to the crisis that are not captured in the main categories.

This data reveals a solid agent consensus that the Government is predominantly responsible for the housing crisis, calling for systemic changes to address what is widely recognised as a critical domestic issue. It suggests an appetite for leadership that can deliver effective national housing policies, improve local government frameworks, and engage constructively with developers and local communities to find sustainable solutions.

Optional question: how would you solve the housing crisis?

The responses in the file to how to solve the housing crisis range from pragmatic to philosophical, touching on economic, regulatory, and social factors. Here are some summarised points:

1. Taxation and Incentives: Addressing stamp duty, offering tax reliefs, and enforcing developers to build on land within set time frames. Tax incentives for first-time buyers and landlords and using tax measures to regulate the short-let industry are suggested.

2. Building More Homes: A crucial focus is constructing additional affordable and social housing, particularly in high- demand areas. Some propose prioritising the most needed homes, such as 2 & 3-bedroom houses, and utilising brownfield sites.

3. Government and Regulatory Interventions: A key strategy involves leveraging uninhabited homes, potentially through compulsory purchase. Streamlining the planning and building process and mandating that developers construct a specific number of homes based on local demand are also proposed.

4. Housing for Essential Services: Some propose building property specifically for essential service workers like police and NHS staff, with restricted prices and selling conditions to keep them affordable.

5. Rental Market Reforms: There are calls for more regulation of the short-let industry, licensing requirements, and possibly capping rents. Some suggest reducing red tape for private landlords to encourage them back into the market.

6.Support for Downsizers: Create policies incentivising those with larger homes to downsize, thus freeing up family-sized housing.

7. Addressing Capitalism and Greed: A philosophical approach to changing the underlying economic system and addressing greed is mentioned as a more radical solution.

8.Housing Courts and Conveyancing: Proposals for setting up specialised courts to deal with housing issues and simplifying the conveyancing process to make it more efficient.

Each of these responses reflects a different aspect of the multifaceted housing crisis issue The solutions range from financial incentives to philosophical shifts, indicating that a combination of measures addressing supply, demand, and regulation would likely be necessary to make substantial progress.

Article: ‘Politicians can’t be trusted to build enough housing’

(The Negotiator, October 2023)

Russell Quirk says that creating a national development corporation could solve the housing crisis if politicians kept it simple.

As we are catapulted towards another general election, likely to be in 2024, our broken housing system is going to be one of the dominant issues.

The housing crisis exists because house prices are too high; rent costs are out of control; our social housing system is not fit for purpose; there is still no remedy for post-Grenfell cladding deficiencies; we are burdened with a draconian leasehold legacy and the list of problems goes on and on.

Lack Of Homes

Many of these issues stem from one place: a lack of homes being built. Expect to hear a procession of irritating politicians this conference season stating emphatically that ‘we need to build more’.

It’s a pathetic, insulting attempt to look as though something will be done.”

This statement of the bleeding obvious is, seemingly, the only answer that the Conservatives and Labour have to offer. It is not an answer at all; it is a simplistic statement that sets out the conclusion without any methodology attached. It’s a pathetic, insulting attempt to look as though something will be done. Instead, it’s all mouth and no substance.

The lack of housing supply cannot keep up with rising demand fuelled by a combination of longer lives, positive net immigration, an increase in single- occupancy and artificially low interest rates.

All these factors have conspired to push house prices up 220% since 2000 and up 24% even since the start of the pandemic.

Biggest Obstacle

We can start building the 300,000 homes Britain needs a year by removing the biggest obstacle that has stood in the way of building sufficient homes for decades: the politicians themselves.

It is their short-termism, their cynical headline-grabbing announcements, empty policies and can-kicking that has resulted in our country being short of new homes by more than 100,000 each year.

To put things into perspective, in 1968 we built 425,830 homes. During the 1980s this had dropped to 213,000 houses a year. In the 1990s it was 190,000 a year.

In the past 10 years we’ve built just 170,000 homes a year on average. As each decade passes the problem of under-supply gets worse. Yet our political leaders use housing as a means of show-boating. Increasingly, promises and pledges to solve Britain’s housing crisis have evaporated almost as soon as they are made.

If we are serious about improving supply then we must liberate the planning process from the suffocation of Westminster, County Hall and town halls.

The worst hands in which to place our housing needs are those of our politicians and civil servants.

Genuine Competition

We must introduce genuine competition to the housebuilding industry. At present, only 10 property developers are responsible for delivering about 70% of all housing in the UK.

This is great for their shareholders but less so for smaller builders and society generally because it means they have too much power over how many houses get built – not just for private sale but also for social rent, shared ownership and affordable purchase too.

The solution could be the creation of a national development corporation.

Taxpayer Owned

Owned by the taxpayer, run by experienced property professionals and held to account by a board of scrutiny and a combination of professional and public-sector stakeholders, it should be publicly owned but run as a private entity with a 10-year mandate – a strategy and a budget to build the right homes in the right places – then left alone to get on with it.

As this would be a public body building a combination of council houses and homes for private sale at profit it would also have access to all national and local government spare land assets on which to build, such as surplus local authority land, redundant NHS land and empty Ministry of Defence (MoD) premises. The MoD has more than 8,000 empty homes and local councils own 1.3 million acres of land, much of it doing nothing.

We just need to join the dots. Simple really. A bit like our politicians.

Russell Quirk was the founder and chief executive of online estate agency Emoov. He runs property PR agency Proper PR and is a regular presenter on TalkTV. A similar version of this article first appeared in The Sunday Times.

Article ‘UK Housing Crisis: Citizens' Assemblies Would Pave the Way Forward’ (August 2023, Property Industry Eye)

According to recent YouGov research, 62% of the UK population believes the government should intervene more to stimulate housebuilding. In contrast, just 17% feel there should be less governmental input. In tandem, there's a solid lean towards affordable homes: 62% think the emphasis of future housebuilding should be on local authority homes for social rent, while only 22% prioritise private homes for sale (YouGov, July 20, 2023).

In an op - ed published in 'Property Industry Eye' in August 2023, Russell This entity would be a powerhouse, streamlining housing needs, expediting planning processes, and producing varied housing types while ensuring profits are channelled back into the system.

Shortly thereafter, Ian Barnett of Leaders Romans Group underlined the pressing need to disentangle the land industry from politics in a follow-up piece two days later. He voiced concerns about recent political decisions, notably from figures like Boris Johnson and Liz Truss, dampening developers' enthusiasm for land acquisitions.

Barnett pinpointed local resistance as a pivotal influence and underscored the value of a national spatial plan. While risking sidelining community voices in a US-style approach, such a strategy could set ambitious, clear housing targets without excessive reliance on local authorities.

Despite unanimous agreement on the existence of a housing crisis, effective solutions have yet to emerge. The team at We Are Unchained has been discussing a novel approach to unlocking sustainable growth in housing while preserving the environment and cultural heritage.

The Citizens' Assembly is an innovative solution to consider, inspired by the Republic of Ireland's approach to tackling recent divisive issues.

How a Citizens' Assembly would address the UK's housing crisis

A Citizens' Assembly, when optimally utilised, can be transformative. It brings diverse perspectives to the table, fostering an environment of unbiased discussion and leading to informed, representational solutions to multifaceted challenges like housing. These assemblies could be local, national, or regional.

1. Scope & Objectivity: The outset of the assembly would involve clearly defining the mandate of the citizens' assembly, ensuring that participants understand the complexity and nuances of the housing crisis, including the importance of the green belt, rural communities, and other critical concerns.

2. Diverse Representation: To echo the nation's demographics, it's essential to have representative but randomly selected participants from various backgrounds in rural and urban communities.

3. Inform & Educate: Participants must be versed in the housing landscape before any decisions. Experts can facilitate this through comprehensive sessions, shedding light on planning laws, green belt restrictions, and the broader economic context. Politicians, academics, pressure groups, and industry figures would give evidence at this stage.

4.Innovative Solutions Galore: From championing brownfield site development to considering co -housing models, the assembly can evaluate various innovative strategies. Improving transportation links, especially to remote areas, can distribute housing demand more evenly.

5. Tackling Planning Permission: The assembly could champion a more efficient planning permission trajectory that balances speed and scrutiny. For instance, they might propose a fast-track system for sustainable housing projects or developments prioritising affordable housing that two -thirds of the public wants.

6.Community Feedback: Any strategy must resonate with the impacted communities. Garnering their insights is invaluable.

7. Environmental Stewardship: Emphasising sustainable practices and ensuring developments resonate with the local ethos is paramount.

8. Post-Deliberation: Once conclusions emerge, sharing them with a broader audience for feedback ensures transparency and inclusivity.

9.Commitment to Implementation: The ultimate litmus test is the political will to bring these recommendations to fruition. We would need a political party to champion a genuinely inclusive and democratic approach.

10.Iterative Approach: With a dynamic housing environment, revisiting and re-evaluating strategies regularly is essential.

Simon Leadbetter, founder of We Are Unchained, said, "The Citizen's Assembly approach harnesses the collective wisdom of experts and the community, echoing the principles of collaborative, transparent decision-making that we advocate for at We Are Unchained. It's an innovative solution that could pave the way for more inclusive housing development.

"While the housing crisis poses substantial challenges, leveraging the insights and experiences of diverse groups, mainly through Citizens' Assemblies, could hold the blueprint for a future where everyone has a place to call home. This is more than just brick and mortar; it's about building sustainable communities for generations."

Mental Health

This section explores mental health and discrimination and doesn't paint a positive picture. But it is worth pointing out that, on balance, more people in real estate agree with the statement, "I love my job”, with far fewer people neither disagreeing nor agreeing and only slightly more disagreeing than the population. But this does vary by gender.

I definitely agree with the statement, “I love my job.”

Source: YouGov, Profiles, 12 months to 24th March 2024

Women in real estate are far less likely than men to agree with the statement "I love my job” than men in real estate and more likely than men to disagree with the statement "I love my job.” But overall, more men and women agree with the statement than disagree.

Source: YouGov, Profiles, 12 months to 24th March 2024

Men In Real Estate Women in Real Estate

Real estate is mid-table compared to other sectors, ranking 19th out of 36 industry sectors measured in terms of people who definitely agree with the statement, "I love my job.”

Agriculture (farming, livestock)

Leisure (gyms, fitness, sports, leisure centres etc.)

Restaurant services

Airlines or air travel

Arts, entertainment, and recreation

Accounting

Manufacturing: Heavy industry or machinery

Health or medical services

Personal care and services

Other travel services

Manufacturing: Technology, computers, electronics

Maintenance and repair

Education

Wholesaling

Engineering, design, or architecture

Scientific research

Media and communications

Transportation

Real estate

Business services (e.g. accounting, consulting,…

Hotels or lodging

Law or legal services

Construction

Technology services

Retail

Manufacturing: All other

Financial Services: Other

Natural resources (e.g. oil, mining, forestry)

Financial Services: Banking

Tourism / tour operator / travel agency

Financial Services: Insurance

Manufacturing: Automobiles or automobile-related

Financial Services: Brokerage & Investment

Utilities and energy (e.g. electricity, water, gas etc.)

Source: YouGov, Profiles, 12 months to 24th March 2024

weareunchained.co.uk

This section asks questions about mental health and discrimination at work.

If you are facing any challenges, you are not alone. Please check out the excellent resources at Agents Together: https://www.agentstogether.co.uk/help-is-here and the https://www.propertymark-trust.co.uk/what-we- do

In the past year, have you faced any challenges related to your mental health?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

In this survey question, real estate and letting agents were asked if they had faced any mental health challenges in the past year. The results provide valuable insights into the wellbeing of professionals in this industry and highlight potential differences based on gender.

Overall, a significant proportion of agents (42%) reported experiencing mental health challenges in the past year. Interestingly, the percentage was nearly identical for both male (42%) and female (41%) agents, suggesting that mental health issues affect both genders in this profession equally.

Slightly more than half of the agents (52%) indicated that they had not faced mental health challenges in the past year, with 53% of males and 51% of females responding in this manner.

A small percentage of agents (6%) preferred not to disclose their mental health status, with a slightly higher proportion of females (8%) choosing this option compared to males (5%).

weareunchained.co.uk

These findings underscore the importance of addressing mental health in the real estate and letting industry and ensuring that support and resources are available to all agents, regardless of gender.

How have you addressed it?

I tried to address the situation privately Female

I have dealt with it with my family/friends

None of the above

I sought external professional help

I've done nothing/tried to ignore it

I have not experienced any mental health…

Prefer not to say

I have raised the issue with my line manager

Other

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

In this follow-up question, real estate and letting agents who reported facing mental health challenges in the past year were asked about how they addressed these issues. The responses provide insights into the coping strategies professionals employ in this industry and highlight some differences based on gender.

The most common approach, reported by 21% of all agents, was addressing the situation privately. This was more prevalent among male agents (23%) than female agents (16%). Dealing with mental health challenges with the support of family and friends was the second most popular strategy, reported by 18% of all agents. A higher percentage of males (21%) relying on this approach than females (12%).

12% of all agents reported seeking external professional help, with a higher proportion of females (16%) opting for this strategy than males (10%). Interestingly, 9% of agents reported doing nothing or trying to ignore their mental health challenges, with a slightly higher percentage of males (10%) adopting this approach compared to females (8%).

A small percentage of agents (6%) raised the issue with their line manager, with a higher proportion of females (12%) doing so compared to males (4%). An equal percentage (6%) preferred not to say how they addressed their mental health challenges.

Notably, 9% of agents reported not experiencing any mental health challenges, despite the previous question indicating that only 6% preferred not to disclose their mental health status.

These findings highlight the diverse ways real estate and letting agents address mental health challenges and underscore the importance of providing a range of support options that cater to individual preferences and needs.

How would you describe your mental health now?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Estate and letting agents were asked to describe their current mental health status compared to the previous 12 months. The responses provide a snapshot of the evolving mental well-being of professionals in this industry and highlight some differences based on gender.

A significant proportion of agents (44%) reported no change in their mental health compared to the last 12 months. This was more common among male agents (48%) than female agents (35%), suggesting that a higher percentage of males experienced a consistent mental health state over the past year.

Encouragingly, 43% of all agents reported that their mental health was better than it had been in the last 12 months. This improvement was more pronounced among female agents (53%) than among male agents (39%), indicating that a higher proportion of females experienced a positive shift in their mental well-being over the past year.

However, 12% of all agents reported that their mental health was worse than it had been in the last 12 months. This percentage was similar for male (13%) and female (12%) agents, suggesting that a small but significant proportion of professionals in this industry experienced a decline in their mental well-being over the past year.

These findings underscore the ongoing nature of mental health challenges and the importance of providing continuous support and resources to real estate and letting agents. The gender differences in mental health trajectories highlight the need for targeted interventions that address the unique experiences and needs of male and female professionals in this industry.

Discrimination

Which, if any, of the following types of discrimination have you ever personally experienced at work from colleagues or clients?

From Colleagues

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey question delves into the types of discrimination that real estate and letting agents have personally experienced at work from colleagues, revealing some notable differences based on gender.

Nearly half (49%) of all agents reported not experiencing any personal discrimination from colleagues, but this percentage was significantly higher among male agents (68%) compared to female agents (15%). This stark difference suggests that female agents are more likely to face discrimination in the workplace.

The most common type of discrimination reported was based on gender, with 19% of all agents experiencing this. However, the gender disparity was striking, with 44% of female agents facing gender-based discrimination compared to only 5% of male agents.

Age-based discrimination was the second most prevalent, affecting 13% of all agents. Again, female agents were disproportionately impacted, with 24% experiencing age discrimination compared to 7% of male agents.

Smaller percentages of agents reported other types of discrimination, such as those based on sexuality (11%), physical appearance (10%), professional career (9%), educational level (9%), nationality/ethnicity (5%), race (4%), political affiliation (4%), and disability/health issues (4%). However, in most cases, female agents experienced higher rates of discrimination than their male counterparts.

These findings highlight the ongoing challenges faced by real estate and letting agents, particularly women, regarding workplace discrimination. The results underscore the need for targeted efforts to address and prevent discrimination in this industry, ensuring a more equitable and inclusive professional environment for all agents.

From Clients

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey question also examined the types of discrimination that real estate and letting agents have personally experienced at work from clients, revealing notable differences based on gender and an index comparing the experiences of female agents to male agents.

Almost half (46%) of all agents reported not experiencing any personal discrimination from clients. However, this percentage was significantly higher among male agents (65%) than female agents (12%), indicating that female agents are far more likely to face discrimination

from clients. The index value of 18 suggests that female agents are 82% less likely than male agents to report not experiencing any discrimination.

The most common type of discrimination reported was based on gender, with 30% of all agents experiencing this. The gender disparity was striking, with 71% of female agents facing gender-based discrimination compared to only 7% of male agents. Female agents are over ten times more likely than male agents to experience gender-based discrimination from clients.

Age-based discrimination was the second most prevalent, affecting 17% of all agents. Again, female agents were disproportionately impacted, with 29% experiencing age discrimination compared to 10% of male agents. Female agents are nearly three times more likely to face age-based discrimination from clients.

Other types of discrimination, such as those based on physical appearance (13%), race (12%), professional career (11%), nationality/ethnicity (7%), sexuality (5%), educational level (4%), disability/health issues (3%), and political affiliation (2%), were reported by smaller percentages of agents. However, female agents experienced higher rates of discrimination based on physical appearance (index 353) and sexuality (index 706) compared to their male counterparts.

These findings highlight the significant challenges faced by real estate and letting agents, particularly women, in terms of client discrimination. The results emphasise the need for targeted efforts to address and prevent discrimination in this industry, ensuring a safer and more equitable professional environment for all agents, regardless of gender.

When experiencing discrimination, in what way, if any, did you react? Please select all that apply.

The survey question explores how real estate and letting agents react when experiencing discrimination, revealing some interesting patterns and gender differences.

A significant proportion of all agents (39%) reported not taking any of the listed actions when facing discrimination. However, this percentage was much higher among male agents (58%) compared to female agents (9%), suggesting that men may be more likely to brush off or not react to discriminatory incidents.

The most common reaction among all agents was to do nothing or try to ignore the discrimination (24%). Strikingly, 42% of female agents reported this response, compared to only 12% of male agents. This suggests that women may feel more pressured to remain silent or avoid confrontation when facing discrimination.

The second most frequent response was to try to remove oneself from the situation without confronting the perpetrator(s), reported by 19% of all agents. Again, female agents (30%) were more likely to opt for this approach compared to male agents (12%).

Confronting the person(s) responsible for the discrimination was the third most common reaction, with 18% of all agents taking this step. Male agents (20%) were slightly more likely to confront the perpetrator(s) compared to female agents (15%).

Other reactions, such as filing a complaint (6%), not remembering or knowing how they reacted (5%), preferring not to say (4%), filming/recording the incident (1%), or taking other unspecified actions (1%), were reported by smaller percentages of agents.

These findings shed light on the different ways in which agents respond to discrimination, highlighting the need for more support, empowerment, and safe reporting mechanisms, especially for female agents who may feel less able to confront or report discriminatory behaviour.

Demography

Limitations: While efforts were made to reach a diverse pool of participants, the survey's sample may not fully represent the entire spectrum of real estate and letting agent professionals. Additionally, response bias and self-selection bias may have influenced the findings. However, broad outreach and promotion strategies were taken to mitigate these limitations.

What is your gender? / What is your age? / How would you describe your seniority in your firm?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Gender:

Most respondents (70%) identified as male, while 30% identified as female. No respondents selected the "Other" option or specified a different gender identity.

Age:

The age distribution of the agents was relatively even across the middle age ranges, with 29% falling into both the 45-54 and 55-64 age brackets. About a quarter (26%) of the agents were between 35 and 44 years old. Younger agents were less represented, with only 6% in the 25-

34 age range and 3% in the 18-24 range. Older agents were also in the minority, with 7% in the 65-74 age group and only 1% aged 75 or older.

Seniority:

Most (68%) of the agents held high-level positions within their firms, identifying as owners, C-suite executives, or board directors another 17% held director or senior management positions below the board level. Only 11% of the agents were in non-senior management roles, and just 4% held non-management positions.

These demographic findings suggest that the survey respondents were predominantly male, middle-aged, and held senior leadership positions within their real estate and letting firms. This profile may reflect the overall composition of the industry's workforce, particularly at higher levels of seniority. However, it is essential to note that the experiences and perspectives of younger, female, and non-senior employees may be underrepresented in the survey results.

Article ‘Closing the Gender Jaws: A Comparative Look at Gender Balance in Real Estate and Other Industries’ (December 2023, Estate Agent Today )

Source: YouGov, Profiles, 12 months to 24th March 2024

The term “gender jaws” was coined by gender balance expert Avivah Wittenberg-Cox, refers to the widening gender gap as you progress to higher levels of management.

The study reveals a significant disparity in gender representation across different levels of management in both the real estate industry and across all industries.

While the real estate sector shows a more pronounced female presence at the nonmanagement level (71% women vs. 29% men), this balance shifts dramatically as we ascend the corporate ladder.

At the board level, women constitute only 32%, starkly contrasted with 68% representation by men.

In comparison, all industries combined present a less skewed yet still concerning picture. Women make up 57% at the non-management level, but their representation decreases to 40% in senior management and at the board level.

Key Highlights:

Real Estate vs. All Industries: The real estate sector begins with a higher percentage of women at the non-management level but sees a sharper decline in female representation as one moves up the hierarchy.

Senior Management and Leadership: Both sectors exhibit a notable dip in female representation in senior roles, highlighting the 'gender jaws' effect.

The Business Imperative: As emphasised by Wittenberg-Cox, achieving gender balance is crucial for social equity and enhancing business performance and competitiveness.

The data underscores the urgent need for effective gender balance strategies in the workplace. As the industry grapples with these challenges, the role of gender bilingualism becomes ever more crucial. Understanding and valuing gender differences and leveraging them for organisational success is a social responsibility and a strategic imperative.

Alex Tan MNAEA of Regional Sales Director for Andrews and South West Regional Advocate for WiEA, “Gender Jaws are still highly prevalent in estate agencies today. The underrepresentation of women in senior positions within estate agencies persists due to systemic barriers and cultural biases.

“Traditionally, the industry has been dominated by an "old boys' network," where established connections and pre- existing relationships often favour men in climbing the career ladder.

“Moreover, societal expectations and stereotypes might deter women from actively pursuing these roles due to a lack of encouragement, self- doubt, or concerns about work-life balance.

“However, studies consistently demonstrate that companies benefit significantly from diverse leadership, and when women do ascend to senior positions, there's a marked increase in profitability and innovative thinking.

“Encouraging women to step forward, actively challenging biases, and implementing inclusive policies are crucial steps toward rectifying this imbalance and harnessing the industry's full potential.”

" We Are Unchained recognises the critical need for in- depth analysis and reporting on industry-wide issues like gender balance," states founder Simon Leadbetter.

"This new study highlights the disparities in the real estate sector and emphasises our commitment to fostering meaningful change. By bringing these insights to light, we aim to encourage industry leaders to actively participate in creating more equitable and effective workplace environments."

International Women’s Day 2024

Do you have a favourable or unfavourable opinion of International Women’s Day? / Do you see International Women’s Day as more of a celebration, or a protest?

Men in Real Estate

Women in Real Estate

Source: YouGov, 8th March 2024

When YouGov conducted a March survey on the opinions of men and women in real estate about International Women's Day (IWD) in 2024, the results revealed a significant disparity in their sentiments.

Among women in real estate, there was naturally a high level of favourability, with 78% holding a favourable view of IWD.

Meanwhile, a significant portion (34%) of men in real estate held somewhat favourable views, and 19% reported a very favourable opinion. That said, 28% held somewhat unfavourable views, and 12% expressed unfavourable opinions.

65% of women saw IWD more as a celebration, contrasting with just 38% of men. This indicates differing perceptions, with men more likely to view it as a protest (27%) than women (5%). These findings underscore the urgent need for fostering open discussions about gender disparity, particularly among men, to effectively address the gender gaps, especially in senior roles.

Which country/region of the United Kingdom do most of your/your firm's client listings come from (please tick all that apply)?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

Do you deal directly with homeowners, landlords, or tenants?

Yes - occasionally

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

In our comprehensive survey targeting real estate and letting agents, most 841 industry professionals confirmed frequent direct interactions with homeowners, landlords, or tenants. A robust 82% of the participants stated they always deal directly with these clients, indicating a predominant industry standard where agents are the primary contact points for property-related transactions.

Meanwhile, a smaller contingent of 10% acknowledged dealing with such clients occasionally, suggesting various service models or roles within the sector. A minimal 9% of agents reported no direct dealings, pointing to specialised roles or perhaps corporate structures where other departments or partners handle client interaction. This data underscores the centrality of agent- client engagement in the property industry, revealing a solid agent presence in mediating real estate activities.

What is the split in your business between sales and lettings?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The data reveals a balanced distribution with a slight leaning towards lettings, which account for 54% of the business operations among respondents. Sales constitute a slightly lower portion, at 46%.

This split suggests a robust activity in the property rental market, which various factors, including market demands, investment strategies, or portfolio preferences, could drive. The proportionate distribution also highlights the dual nature of many real estate businesses, emphasising their adaptability and the diverse range of services they provide to cater to the market's needs.

How would you describe the size of your agency?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The most common agency size is the single office business, with one-third (33%) of the agents working in this type of setup. This suggests that a significant portion of the industry comprises smaller, independent agencies operating from a single location.

Slightly fewer agents (31%) work in agencies with 1-10 branches, indicating that small to medium-sized multi- office businesses are also prevalent in the real estate and letting sector.

Interestingly, more than one-fifth (22%) of the agents reported being self- employed, which could include freelance agents, independent contractors, or sole proprietors. This highlights the significant presence of individual practitioners in the industry.

Larger agencies are less common, with only 3% of agents working in businesses with 11-20 branches, 3% in agencies with 21-50 branches, 2% in firms with 51-100 branches, and 3% in companies with more than 100 branches. These findings suggest that while larger agencies exist, they represent a smaller proportion of the overall industry.

Online estate agencies, which operate primarily through digital platforms, account for just 2% of the agents surveyed, indicating that traditional, physical office-based agencies remain the dominant model in the industry.

Only 1% of the agents reported not knowing the size of their agency, suggesting a high level of awareness among professionals regarding their organisational structure.

These results paint a picture of an industry characterised by a mix of small to medium-sized businesses, a significant presence of self- employed agents, and a smaller proportion of larger, multi-branch agencies. This diverse landscape may reflect clients' varying needs and preferences, as well as the adaptability and resilience of the real estate and letting sector.

Which of these property titles do you read, and how often?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey question explores the readership habits of real estate and letting agents across various property-related publications, providing insights into the industry's most popular and frequently read titles.

Property Industry Eye emerges as the most widely read publication, with 93% of agents reporting that they read it at least occasionally. Over half (52%) of the agents read Property Industry Eye daily. In comparison, another 25% read it weekly, indicating a strong preference for this title as a primary source of industry news and information.

The Negotiator and Estate Agent Today tie for the second-highest total readership, with 82% of agents reading each publication at least occasionally. However, The Negotiator has a more evenly distributed readership across frequencies, with 24% reading it daily, 22% weekly, and 18% monthly. In contrast, Estate Agent Today has a higher proportion of daily readers (34%) but a lower monthly readership (10%).

Half (50%) of the agents surveyed read Letting Agent Today, with a relatively even split between daily (18%) and weekly (16%) readers. Other publications, such as Landlord Today (36% total readership), Property Investor Today (30%), Landlord Zone (27%), and Property Week Magazine (23%), have lower overall readership but still attract a significant proportion of agents.

Niche publications like Your Property Network Magazine (21%), The Property Hub Magazine (19%), EG Magazine (15%), Prime Resi (15%), Introducer Today (15%), and Property & Development Magazine (10%) have the lowest total readership among the agents surveyed

These findings suggest that real estate and letting agents have diverse reading preferences. Some publications enjoy broad appeal and frequent readership, while others cater to more specialised interests. The high readership of Property Industry Eye, The Negotiator, and Estate Agent Today indicates their importance as key sources of information and insights for property industry professionals.

What professional memberships do you hold?

Propertymark emerges as the most common professional membership, with over half (55%) of the agents belonging to this organisation. This suggests that Propertymark is a widely recognised and valued association within the industry, offering benefits and support that appeal to a significant proportion of agents.

The National Association of Estate Agents (NAEA) is the second most popular membership, held by 53% of the agents surveyed. This high membership level indicates that the NAEA is an essential professional body for estate agents, providing resources, training, and representation for its members.

A significant percentage (41%) of agents hold membership with the Association of Residential Letting Agents (ARLA), suggesting that this organisation plays a crucial role in supporting and regulating the residential letting sector of the industry.

Safeagents, a professional body focused on promoting best practices and protecting client money, is a membership held by 16% of the agents surveyed. This indicates a notable level of commitment to professional standards and consumer protection among a subset of agents.

The Royal Institution of Chartered Surveyors (RICS), a global professional body for land, property, and construction professionals, is a membership held by 15% of the agents. This suggests that a smaller but significant proportion of agents value the professional development and recognition RICS offers.

A smaller percentage (7%) of agents hold membership with the UK Association of Letting Agents (UKALA), indicating that this organisation may cater to a more specialised or niche segment of the letting industry.

Interestingly, 11% of agents reported holding memberships with other organisations not listed in the survey. This suggests that additional professional bodies or associations may cater to specific needs or specialisations within the industry.

These findings highlight the importance of professional memberships in the real estate and letting industry. Most agents belong to one or more organisations offering support, training, and representation. The high membership levels in Propertymark, NAEA, and ARLA underscore the value agents place on these organisations, particularly their role in promoting professionalism and best practices within the industry.

Do you or your agency belong to any agency networks?

Source: We Are Unchained, The Voice of the Agent, Research Dates 18th December 2023 to 3rd March 2024, Sample 841 agents

The survey question investigates the agency networks that real estate and letting agents or their agencies belong to, shedding light on the most popular industry networks and the level of engagement with these organisations.

Women in Estate Agency emerges as the most common network, with over a third (38%) of the agents or their agencies belonging to this organisation. This high membership level suggests that Women in Estate Agency plays a significant role in supporting and empowering women in the real estate industry, providing valuable resources, networking opportunities, and advocacy for its members.

Women in Residential Property is the second most popular network, with 21% of agents or their agencies holding membership. This indicates a strong focus on promoting gender diversity and supporting women's professional development in the residential property sector.

Kerfuffle, a network that provides access to various PropTech solutions and supplier deals, is a membership held by 19% of the agents or their agencies. This suggests that most of the industry values this network's technology and business support.

The Guild of Property Professionals (The Guild) is a network that offers marketing, training, and business support to independent estate agencies. 18% of agents or their agencies hold

membership in The Guild, which indicates that it is an important resource for a notable industry segment, particularly for smaller, independent agencies.

Interestingly, 13% of agents or their agencies reported belonging to other networks not listed in the survey, suggesting that additional organisations may cater to specific needs or specialisations within the industry.

Lonres, a network focused on the prime London property market, is a membership held by 12% of the agents or their agencies, indicating its relevance for those operating in the capital's high- end property sector.

The Federation of Independent Agents (FIA) is a network supporting independent estate agencies. Ten percent of agents or their agencies hold membership, highlighting its role in representing and assisting smaller, independent businesses.

Smaller proportions of agents or their agencies belong to networks such as the Relocation Agent Network (RAN) (7%), The Mayfair Office (6%), and the Ethical Agent Network (6%), suggesting that these organisations cater to more specialised segments of the industry or have a more focused geographical reach.

Notably, 7% of agents reported needing to know whether they or their agency belong to any networks, which may indicate a lack of awareness or engagement with industry organisations among some professionals.

These findings underscore the importance of agency networks in the real estate and letting industry, with a significant proportion of agents or their agencies belonging to one or more organisations that offer support, resources, and networking opportunities. The high membership levels in networks focused on women's professional development and gender diversity, such as Women in Estate Agency and Women in Residential Property, highlight the industry's growing commitment to promoting inclusivity and empowering female professionals.

Industry Legends

The most inspirational and influential person in the industry is...

Based on the text provided, the most frequently repeated names mentioned as inspirational or influential in the industry are:

- Christopher Watkins

- Megan Eighteen

- Peter Knight

The respondents have cited each individual multiple times as having significant influence or providing inspiration within the property industry. It’s worth noting that influence and inspiration are subjective measures, so these names reflect the opinions of the surveyed individuals.

And, optionally, why do you say that?

The testimonials praised the individuals for their contributions to the field, character, and the tangible benefits they've provided to colleagues and the industry. These people have shown a consistent track record of success, innovation, leadership, and service that resonates with others in their professional community. Their actions and approaches have inspired others, making them stand out as influential figures within the property industry. The reasons given include:

And thinking about the industry as a whole again, is there one SUPPLIER that you would always recommend to friends and colleagues?

From the provided text, it seems like it's a collection of responses from a survey or feedback form where individuals have mentioned different names and suppliers they would recommend in the property industry. The most frequently appearing names or suppliers, based on this text snippet, are:

1. Homesearch (appears multiple times)

2. Spectre (appears multiple times)

3. Rightmove (appears multiple times)

4. Payprop (appears multiple times)

These names are repeated throughout the responses, indicating that they are likely wellregarded within the property industry by the individuals who provided this feedback. Their repeated mention could suggest that they offer valuable services or products that have garnered positive word- of-mouth recommendations.

And, optionally, why do you say that?

The key, unduplicated themes in the praise for these individuals or services in the property industry seem to be:

1. Personalised Support: Offering one- on- one sessions and outstanding personal qualities

2. Product Innovation and Necessity: Providing innovative solutions essential to the industry.

4. Revenue and Service: Generating additional revenue while delivering exceptional service.

5. Community and Member Benefits: Creating a strong, agent- centric community with tangible benefits for members.

6. Ease of Use and Reliability: User-friendly and reliable services with good customer service.

7. Comprehensiveness: Offering services that address industry needs.

8. Professionalism and Value: Consistently professional behaviour and services highly valued within the industry.

These themes reflect functional excellence, customer- centric service, and a holistic understanding of the property industry’s requirements.

CONTACT DETAILS

Simon Leadbetter | 07887 550 047

simon@weareunchained.co.uk weareunchained.co.uk