Surveying is a big business in the UK, with 3 in 5 purchasers now instructing on a HomeBuyer Report and Building Survey thanks to an increased aware
A Survey is recommended to a purchaser during one of several key stages through the sales journey. Estate Agents have the early-bird advantage in this process and if your agency is not recommending, you may want to think again.
Estate Agents are the first point of contact for an applicant wanting to purchase a new home. This relationship is key to making this dream a reality. Only post offer will other parties get involved in this process. Given 60% of all purchasers instruct on a Survey, one of the parties introduced in the post-offer phase will be capitalising on your hard work and recouping the benefits of this service in your absence.
To highlight why survey referrals should be of interest to all Agents, below is a simple breakdown of the additional revenue that could be made.
On average any given branch completes on 10 properties per month. Of those 10, 6 purchasers will instruct on a Survey. If commission of £100 was paid per survey referral, that’s £7200 a branch could earn over a 12-month period.
More than just providing an additional income stream, recommending and referring a Survey for your buyers increases their awareness of the pitfalls awaiting them in their new property and improves the customer experience offered by your agency.
RICS suggests that property purchasers are unknowingly setting themselves up for an average of £5,570 in repair bills on their new home due to unforeseen problems such as structural defects and rot. These problems can be highlighted by a qualified Chartered Surveyor and addressed during the post-offer stage of the buying cycle, leading to a better experience for all parties.
Interested in finding out more and identifying how to tap into this revenue stream offered through Survey Referrals?
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