New research shows how much revenue realtors potentially lose due to unanswered phone calls.
The YourBusinessNumber study found that missed phone calls cost estate agents around £119million a year.
Missed calls are estimated to cost UK businesses £30billion a year, which equates to an average annual loss of £5,357 per business, based on the roughly 5.6million registered businesses in the UK. United.
It is believed that there are 22,145 estate agents currently operating in the UK property market, each suffering a loss of revenue amounting to £5,357 a year due to missed calls.
Regionally, the greatest losses are suffered in London. The region is home to the largest number of estate agents with 6,445, or 29% of all estate agents in the UK.
As a result, estate agents in the capital are estimated to lose £34.5million a year due to missed calls.
Agencies in the South East are also suffering from missed calls, with YourBusinessNumber estimating they are losing £18.5m a year.
In the East, this loss of revenue is equivalent to £11.6million a year, and in the North West estate agents lose £10.1million every year due to missed phone calls.
George Lineker, co-founder of YourBusinessNumber, said: “The UK property sector has seen an overwhelming level of activity in the market since the start of the pandemic and the country’s estate agents have been on the frontline, working tirelessly to address this increased demand.
“It will have stretched many of them from an operational point of view and it is inevitable that at times the phone has gone unanswered.”