Younger consumers less likely to consult estate agents for property transactions: survey

Customer satisfaction slipped in 2016.

Fewer consumers in Singapore are likely to approach real estate agents when buying, selling, or renting property, revealed a survey from the Council for Estate Agencies (CEA).

The survey showed that only 60% of respondents would engage an agent when it comes to property transactions, compared to 66% in the previous survey in 2012. Meanwhile, 31% of respondents are undecided, compared to just 24% in the previous survey. 9% of respondents prefer to handle their own transactions, compared to 10% in 2012.

The survey also found that consumers between 21 to 39 years old were more undecided about engaging a property agent for future transactions. 11% of respondents under 30 said they would handle their own transaction, while 12% of those aged between 30-39 said that they would not engage an estate agent.

Meanwhile, 79% of respondents indicated that they were satisfied with the services provided by their property agents. This is a slight decrease compared to 81% in 2012, and can be attributed to the lower satisfaction levels for resale consumers.

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