Letting agents are being encouraged to sign up so a mystery shopper can assess their performance.

KnowYourMarket, a market research firm in the property industry,  collects data through web, call, and face-to-face mystery shopping, allowing for a detailed assessment of agents’ activities.

Annabel Goulden, Head of KnowYourMarket, says: “By examining key metrics and our benchmarks, agents can gain invaluable insights into market trends and anonymised performance data across the country.

“Mystery shopping is not about micromanaging staff but rather a training tool designed to help businesses improve processes and foster growth. By identifying areas for improvement and investing in targeted training, companies can maximise sales opportunities and enhance customer satisfaction.”

A new report from the firm delves into various aspects of the industry’s performance, including compliance and customer experience. 

A series of key industry benchmark questions were determined to obtain average scores from a sample group of estate agents.  The scores were generated from the number of times the mystery shoppers were asked these basic, yet vital questions.

One finding of the report is the importance of gathering comprehensive data on initial enquiries, as it not only ensures customers feel heard but also provides valuable insights for internal use. Additionally, the report emphasises the impact of customer experience on brand loyalty and revenue generation, citing research that shows 86% of consumers are willing to pay more for a better experience.

Goulden continues: “Every interaction shapes the perception of a brand, making it vital for estate agents to deliver a seamless customer experience consistently.“

Estate agents can obtain a copy of the benchmark report from KnowYourMarket and register for a free introductory mystery shop: they can use this  link to fill out a form.