The role of estate agents has dramatically transformed over the centuries.
How the job of helping people buy and sell properties has developed has mirrored the changes in society, technology and the property market itself.
This evolution has been shaped by shifting economic conditions, technological advancements and changing consumer expectations.
Let’s jump in the metaphorical Tardis and journey through time to explore how estate agents in the UK have evolved and what the future might hold.
The early days: Door-to-door and handwritten ledgers
In the early 19th century, estate agents were few and far between, often operating as part of general merchants or solicitors. One of the first-ever adverts for an estate agency type of service was placed in The London Courier by Chestertons in 1807.
The profession was largely informal, with agents relying on word of mouth and personal networks to connect buyers and sellers.
Transactions were recorded in handwritten ledgers, predominantly face to face or via letters. These early agents were more like modern property managers, handling estates for wealthy landowners rather than playing a role in selling individual homes.
The rise of the modern estate agent: Post-war prosperity
The post-World War II era saw significant changes in the property market. The booming economy and a surge in home ownership led to a growing need for professional estate agents. This period marked the beginning of the estate agent profession as we now know it.
Agencies began to emerge on high streets, with pages of local newspaper adverts and window displays showcasing available properties. Moreover, the introduction of the Land Registry in 1925 also helped standardise property transactions. It made the process more transparent and reliable.
The digital revolution: Online listings and virtual tours
Fast forward to the late 20th and early 21st centuries. These years saw the digital revolution, fundamentally altering how estate agents operated. The advent of the internet transformed property searches, moving from paper-based listings to online portals.
Websites like Rightmove and Zoopla made it easier for buyers to browse properties from the comfort of their homes. Furthermore, the better estate agents adapted by improving their online presence. On one hand, they started offering virtual tours (which boomed during and post-lockdown). On the other hand, they leveraged the explosion of social media for marketing.
This shift broadened the reach of estate agents and increased transparency and accessibility for consumers through things like Google Reviews and 24/7 website chat options.
The future: AI, big data and sustainable practices
Looking ahead, the role of estate agents is expected to continue evolving. And it will happen more quickly than ever.
This is set to be driven by advancements in artificial intelligence (AI) and big data. Predictive analytics can help agents identify market trends and price properties more accurately and dynamically.
AI-powered chatbots and virtual assistants are already improving specific areas of customer service by providing instant responses to enquiries.
Furthermore, the future also promises a more personalised approach to property transactions through virtual reality (VR) and augmented reality (AR).
All things considered, at the heart of every property transaction is people. And the best agents in today’s market, or from years ago, implicitly understand this.
Contact us today if you are considering buying or selling a home this summer.
