21 Apr Estate agents’ websites see record numbers of visitors
According to data from Yomdel Property Sentiment Tracker (YPST), estate agents’ websites received record-breaking volumes of visitors in March 2021.
How the data is collated
Yomdel is well placed to monitor the growth of digital activity by potential property buyers.
The company has analysed data from the 24/7 managed live chat services it provides to 3,800 estate agent offices in the UK. Yomdel deals with more than 1.9m chats a year. By looking at data from January 2019 until 28 March 2021, it has mapped the sharp increase in digital activity.
A surge in visitors
The high number of visitors to agents’ website was welcome as a surge in new buyer enquiries accompanied it.
Data showed that the volume of visitors to estate agents’ websites was 158% higher than the first week of lockdown in 2020. The figures also show that visitor interest was 58% higher than the same week in 2019.
As well as website visits, data from live chats was also analysed. The figures revealed that the number of live chats was 58% higher than last year and showed a 35% increase on 2019.
Encouragingly, the volume of leads generated was 67% higher than the previous year and 53% greater than 2019.
New vendors entering the market
However, the number of new vendors entering the market has not risen in line with new buyer enquiries. As a result, there’s a growing disparity between supply and demand for properties.
Andy Soloman, Yomdel founder and CEO, commented: “It really looks like crunch time is fast approaching in terms of new stock for agents to list who are staring down the barrel of rapidly diminishing listings. Buyers are plentiful, and stock is moving, but agents report an incredibly competitive market. Given the urgent need to identify and secure new vendors and landlords, effective and rapid portal lead handling and effective engagement with all-time record volumes of visitor numbers to estate agent websites offers the best hope of keeping the tanks full and the engine running.”
Growth in digital adoption
Like many businesses, the pandemic has forced estate agents to adapt the way they operate. They’ve fast-tracked the adoption of technology to allow them to generate interest in properties even when lockdown restrictions have been in place.
A significant part of this has been the rollout of virtual viewings through video or 3D tours. Virtual tours have been shown to drive higher engagement and lead to faster sales.
A virtual viewing can be fully immersive and allow the buyer to ‘walk through the property’, zoom in and out of areas, study floor plans and dollhouse views and use measuring tools. For both buyers and sellers, this saves time and offers considerable benefits.
From a buyer’s point of view, they can view properties online first and eliminate any that are clearly unsuitable for their needs. They can then focus on the most likely contenders and arrange a physical viewing.
From the seller’s perspective, they can minimise the inconveniences of multiple viewings. Instead, they’ll hopefully only have to accommodate visits from potential buyers who are serious about their property.
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