While technology continues to reshape the housing market, new research suggests that homeowners still prefer the human touch when it comes to valuing their properties.
According to a new report from property group LRG, 85% of sellers are more likely to trust a local agent’s valuation than an online platform – a finding that comes just as the government moves to strengthen professional standards across the estate agency sector.
Earlier this month, ministers confirmed plans to introduce mandatory qualifications and a formal Code of Practice for estate agents, reforms aimed at ensuring that those handling property transactions have the expertise to guide consumers through what remains one of the most complex financial processes in the UK.
LRG’s autumn report, Property Pricing in a Pragmatic Market, based on a survey of 317 buyers and sellers across England and Wales, underlines that while online valuation tools offer instant estimates, sellers continue to value professional judgment rooted in local knowledge.
VALUATION EXPERTISE
More than half (54%) of respondents said valuation expertise was the main reason they chose their agent, while three-quarters (74%) listed their homes at their agent’s recommended asking price.
Kevin Shaw (main picture, inset), National Sales Managing Director of LRG, says: “What we’re seeing is that sellers understand the difference between an algorithm and genuine local knowledge.
“An online tool can tell you what similar properties sold for, but it can’t tell you that the house three doors down only achieved its price because of planning permission or that the area is about to benefit from a new school, for example. That context is everything.”
STAMP DUTY CHANGES
Following changes to stamp duty thresholds in April, more than half (55%) of sellers were advised by agents to reduce their asking price, with 44% acting on that guidance — further evidence, LRG says, of the confidence sellers place in professional expertise.
The government’s proposed reforms reflect the same principle. The consultation on mandatory qualifications and a Code of Practice for estate agents recognises that property transactions require insight that technology alone cannot replicate. Sellers grappling with chains, shifting local dynamics or market timing need expertise that goes beyond algorithms.
INSTINCTIVE VARIABLES
“Every locality tells its own story,” adds Shaw. “Algorithms work with averages and comparisons, but they can’t factor in the dozens of variables that experienced local agents consider instinctively – from the best dog-walking routes and which parks the locals use, to transport links, upcoming developments and seasonal patterns specific to that town or neighbourhood.”
PERCEPTION GAP
LRG’s data also points to a widening perception gap between what sellers believe is happening in the market and what the data shows.
Some 45% of sellers think prices have fallen in the past year, while only 12% believe they’ve risen – a discrepancy that highlights the role agents play in helping clients navigate sentiment and strategy.
As the market adjusts to evolving interest rates, policy shifts and the next Budget, LRG argues that the future of property sales will depend on blending human experience with digital efficiency.
PROPERTY IS PERSONAL
“These reforms validate what our clients have been telling us for years,” says Shaw. “Property is personal, local and complex. You can’t automate that level of service, and you shouldn’t try to.
“Despite this, there are undisputed benefits in using digital technology in some aspects of the buying and selling process. This includes customer onboarding, collating material information, online marketing, customer portals and sales progression.
“These efficiency-saving tools benefit the customer experience and the speed with which homes are sold.”
