A new survey of more than 1,000 recent homebuyers found that 90% had been referred to an estate agent by another professional, such as a mortgage broker, solicitor, or buying agent.
When asked what matters most to them when being referred, sellers ranked local reputation highest (28%), followed by communication (20%) and the ability to secure the best selling price (18%). Speed and fees were also important considerations (17% each).
Homebuyers also revealed how they assess whether a referred agent meets their priorities. The majority rely on their initial impression when first meeting or communicating with the agent (39%), while 34% turn to online reviews and ratings, and 27% research the agent’s local track record of sales.
Crucially, transparency is key. Almost half (44%) said it was extremely important that they are given independent information to validate a referral – such as reviews, sales track record, and fee comparisons – with a further 25% stating it was quite important.
In fact, 81% said they would prefer to see their referred agent presented alongside alternative agents for comparison, rather than being introduced to just one option. The most reassuring factors for sellers were a transparent comparison of fees (28%), a verified local sales track record (23%), and reviews from previous clients (20%).
Finally, 68% stated they would be more likely to proceed with a referral if it came via a platform that not only partnered with local agents but also provided transparent data on all local options.
Colby Short, co-founder and CEO of GetAgent, which carried out the study, commented: “Referrals are a vital part of the property market, but our research shows that home movers don’t want to take them at face value. They want reassurance through independent data, comparison, and transparency.”
