News: 58% of consumers believe the UK needs change

Press release

Over 58% of consumers believe the way we sell properties in the UK needs to change, with new research finding that 1 in 2 consumers would consider The Modern Method of Auction if they understood it better.

According to our recent OnePoll study of 1000 homeowners in the UK 58% consumers believed the way we sell properties in the UK needs to change, and 1 in 2 would consider the Modern Method of Auction if they understood it better.

Findings from iamproperty’s research included:

• 58% believed the way we sell properties in the UK needs to change
• Security is key – 71% said it was important for them to know that the other party was committed to the deal
• Only 1 in 4 homeowners were aware of the Modern Method of Auction vs. 6 in 10 for Traditional Auction
• 1 in 2 said they would consider The Modern Method of Auction if they had understood it better

Ben Ridgway, CEO at iamproperty, commented: “This research has given us a revealing new insight into consumers attitudes to the property market in the UK, in particular to their awareness and understanding of auction methods of sale. Shockingly only 1 in 4 homeowners were aware of the Modern Method of Auction despite it solving many of the pain points they mentioned with regards to speed and security.”

“The research told us that 1 in 2 would consider The Modern Method of Auction if they had a better understanding of it. For us this is a rallying cry to all Estate Agents to offer their vendors choice in how they sell their property, so those that need enhanced security and speed understand are aware of all the options they have.”

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