A report produced by proptech specialist OneDome, has revealed that digital functionality used by big-name consumer brands such as Uber and Amazon could be the key to high-street agents winning more instructions.
OneDome’s Consumer Preference Report summarises the responses of 1,000 homeowners across England and Wales, who were asked which consumer brand has the best digital experience. The respondents, aged between 25 and 64, who had either moved in the past three years, or were planning a move, were asked to choose between brands from the retail, leisure and transport industries.
Having selected their preferred brand, they were shown four areas of functionality pertinent to that brand and asked to consider which one (if any) they would like their estate agent to have, and whether implementation of that functionality would make the respondent more like to instruct that agent to sell their home.
The overwhelming majority (84%) felt that Amazon had the best digital experience and highlighted ‘progress tracking’ as the tool that they would most like their estate agent to have when selling their home. Other Amazon-esque functions that consumers cited as desirable when selling a property included a marketplace of agents, and recommendations for properties that ‘you may also like’.
Founder & CEO of OneDome, Babek Ismayil commented: “One of the biggest criticisms levelled at proptech companies is that they are solving problems that don’t exist. Our report looks at the type of technology that people are using in other areas of their lives and applying them to property. Sometimes, it not about solving an immediate problem, but providing an enhanced experience to ensure customers use you again and recommend you to their friends”.
In second place was Uber, and nearly half of the respondents who identified the taxi service as having the best digital experience, cited real-time updates as the functionality that they would like their estate agent to have.
The key finding for agents from the report is that 86% of those who selected ‘progress tracking’ as the most useful functionality for an agent to implement, went on to say that they would be more likely to instruct an agent who had this feature. 82% of respondents who chose Uber stated that they would be more likely to instruct an agent who had real-time updates.
Ismayil continues: “It is not surprising that both of the top scoring tools are related to a customer’s visibility of their transaction. We live in a time when people are used to being kept informed, and the ability to log on and view the progress of their transaction in real time, makes people feel at ease.”
The release of OneDome’s Consumer Preference report coincides with the announcement in Today’s Conveyancer that they are launching a transactional conveyancing platform this summer. OneDome, who launched their estate agent booking tools last year, also allows customers to sign documents, message their agent, make offers and provide viewing feedback on their platform. This latest addition to their product suite will enable customers to instruct a solicitor and allow all parties to see live updates, as the conveyance takes place on the OneDome platform.
OneDome provides a complete technological solution for all property professionals. Our consumer-focused products ensure that anyone undertaking a property transaction enjoys a seamless user experience.
The OneDome conveyancing platform is completely free to use with no minimum contract and offers key services to facilitate a residential property transaction, including best practice workflows, automated form capability, digital signatures, integrations with HMLR (EDRS), searches, AML and SDLT submissions. As well as a fully encrypted secure, online, data exchange and communication with clients – who are provided with their own access to facilitate the transaction online.
The product is built to be used ‘standalone’ or, fully integrated with OneDome’s estate agency software, which will further streamline conveyancing by reducing the number of phone calls requesting an update or for coordinating tasks due to the bespoke ‘progress views’ provided to agents and clients.
Overall, the platform is designed to drive more work toward conveyancers via a nationwide online market place. This is not another panel, but an open, nationwide marketplace, fed by our network of active home movers. We make the residential property transactions a fully online, integrated experience, where both clients and property professionals alike can benefit from technology, and the commercial advantages that it brings.
This article was published by One Dome as part of their advertising agreement with Today’s Conveyancer.
The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.