The Council for Estate Agencies (CEA) has reported a significant 15-percentage point increase in consumer satisfaction with property agents over the past year, as revealed in their 2024 Public Perception Survey of the Real Estate Agency Industry. This rise indicates that consumers feel more supported and informed when engaging with property agents, according to Eugene Lim, Key Executive Officer of ERA Singapore.
Lim noted that whilst the increase in satisfaction is a positive sign, there remains work to be done. Consumers expect agents to maintain professionalism and stay updated on property transaction regulations. They value agents who can deliver speed, accuracy, and negotiation expertise, guiding them through complex procedures with confidence.
The survey highlights the growing importance of digital platforms in the property journey, with online ratings and reviews becoming a new trust currency. This trend is pushing the industry towards greater consistency and consumer focus, as agents are held accountable for their digital footprints.
Despite the rise of digital touchpoints, the human connection remains crucial. Agents are expected to guide clients through high-stakes decisions, necessitating a blend of technology, data, and soft skills. Lim praised the leadership of the CEA and the Ministry of National Development for setting clear standards and fostering a consumer-centric property ecosystem. He expressed a commitment to continue working with authorities to further elevate industry standards.
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