Nicky Stevenson, MD of Fine & Country UK, adds that during the first lockdown more than half the population’s working circumstances changed with around a third of people being told that they would continue working solely from home, with a further 22% being able to work partly from home and the office.
Stevenson says: “Recent articles have sited that demand for remote workers in Britain trembled over the course of last year. According to data provided by analysts Emsi, recruiters New Street Consulting Group has said that in November 2019 there were 26,600 jobs advertised that allowed remote working, last year November that number had increased to 80,700.
“After the pandemic, we could see people spend a few more days a week in an office or shared workspace, but I believe that a hybrid way of working is a lockdown legacy that will remain, and a home office will continue to be a must-have for many going forward. Many people have become accustomed to working from home and will want to continue to do so, even once the world has returned to a normal that possibly resembles a pre-Covid time.”
Stevenson suggests that the trend in remote working has increased the importance of both broadband speed and a dedicated workspace in the home.
She comments: “As businesses and remote working has changed, so has people’s homebuying behaviour with a home office and broadband speed becoming far more important to buyers.
“In a recent Home Moving Trends survey conducted by the Property Academy, on a national level, 37% of participants sited broadband as being more important now than before the pandemic, while 35% said that space to work from home and a garden was now more important to them. Looking at the prime market and specifically, buyers working with a Fine & Country agent, 46% said that broadband speed was more important, with 40% saying a space to work from home is more important.”
Being able to work from home has also provided people with far more options in terms of where they want to live, as they are less restricted by proximity to their place of work.
Stevenson adds: “Of the those who were surveyed, 22% of people selling their property through Fine & Country said that their primary reason for moving was a purely personal choice and wanting to relocate. Others said they were looking to upgrade to a larger property (14%), with around 12% saying they were looking for a change in scenery and lifestyle."
What is interesting to note about the survey is people’s views on estate agents and their need for an office.
Stevenson continues: “23% of participants said that it is not important to them whether an estate agent has an office on the high street, with 33% saying it is a nice to have. When asked if they visited their selling agent’s office, 19% said they had visited prior to instructing the agent, with 32% saying they visited during the sales process. The remaining 49% said that they did not visit the agent’s office, or their agent did not have an office.
She adds: “Rather than looking at whether an agent had an office or not, factors that influenced a seller’s choice on who they instructed included aspects such as the seller’s confidence in the agent’s marketing ability, the agent’s excellent market knowledge and that they liked and trust them.”
Stevenson concludes: “So Covid-19 has certainly impacted buyer behaviours and priorities in a future home. It has also impacted human behaviour, and priorities of those in the workplace, and therefore likely to impact our own sector and how estate agents operate. More flexible working will be desired by many, and therefore to recruit and retain the best people, estate agents will need to evolve. While some may want to work in an office, there is a growing trend of agents wanting alternative ways of working, which is evidenced in the growing number of Associates joining Fine & Country.
"I think we will continue to see more and more agents wanting the freedom to be able to work with increased flexibility, especially with buyer behaviour showing that an office is less essential.”
