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Back to the Future: Industry Experts Predict Estate Agency in 2028

Posted by Michelle Niziol on 06/07/2018
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Michelle Niziol catches up with online property news outlet Estate Agent Today about the future of estate agency. 

A decade ago we were still years away from Purplebricks, Countrywide was a colossus in the industry, no one had thought of OnTheMarket, and as for PropTech – what’s that?

So, what will the next 10 years mean for our industry?

To mark Estate Agent Today’s 10th anniversary, we have again gathered our panel of experts to give their opinions on what we may be working on, reading about and infuriated by in the year 2028.

Our contributors may be amongst the very best in the business, but they have no monopoly on seeing into the future. If you have ideas of your own, or want to take issue with what is said here, please contribute to the comments section below.

In the meantime, thanks to our experts for giving such exciting and challenging views, and thanks to you for reading Estate Agent Today as we go into our second decade.

Here’s to the next 10 years – whatever they may bring.

Michele Niziol, director of IMS Property Group:

Choice is at the centre of the online vs. high street debate. Virtually everyone starts their property search online, but with many online agents, that’s where their service stops. The industry needs to be mindful of the power of technology, but I believe that many customers still want a human-led service.

Back to the future? - Industry experts predict estate agency in 2028The rise of the hybrid agent solidifies the high street agent’s proposition. Consumers make their initial contact through an online portal, then move to a local area expert. Property does not have a one-size-fits-all solution: the market variations support the need for the local property professional (and therefore the high street agent). I expect the majority of ‘online’ agents will actually be ‘hybrid’ agents in 2028.

As far as trends go, the world is moving beyond traditional bricks and mortar. High street agencies are all supported by websites with online booking features, and the online estate agency sector has taken around 7% of the property market.

At some point, the question stops being ‘high street or online?’ and becomes ‘who provides the best service?’. Focusing on providing the best product to our client is the end goal and adapting to their needs and desires is the only way to get there.”

Click here to read the rest of the article on Estate Agent Today.

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