Canstar Blue’s 2019 small business real estate agents review has seen LJ Hooker, Century 21 and Ray White rated on their value for money, communication, knowledge & advice and overall satisfaction.
While many businesses like to think of their workplaces as more of a community than simply bricks and mortar, the bricks and mortar part can be incredibly important, especially if your business grows quickly! Being crammed in like sardines, or operating in a location out of the way for customers, can impact how well a business operates and succeeds.
When it comes to finding a suitable location for your small business, owners and operators are met with plenty of options, making it a tough decision to make. Add into account how quickly the market changes, as well as what goals your business aims to achieve in the short-term, and the premises you operate out of can quickly become one of the biggest decisions you’re likely to make.
Thankfully, real estate agents can take some of the stress out of the situation, helping you find the ideal place for your next big venture. Even if you’re just a sole trader starting out and looking for an appropriate spot to lay down your business roots. But finding a real estate agent to work alongside is the first thing you have to worry about. To help narrow down the search, Canstar Blue has surveyed almost 400 Australian businesses owners and operators on their recent dealings with real estate agents, with their experiences reflected in the star ratings above.
This year sees LJ Hooker taking out the top spot, knocking off previous winner Century 21, as well as scoring five stars across multiple ratings categories.
Canstar Blue’s 2019 review of small business real estate agents has seen three brands compared and rated in the following order for overall customer satisfaction:
With LJ Hooker taking out top spot with five stars for overall customer satisfaction, last year’s winner Century 21 had to settle on four stars overall, while Ray White rounded out the results on three stars. Five-star ratings were hard to come by, with LJ Hooker the only brand to reach the top mark, although there was no five-star rating for value for money, implying there’s some room for improvement across the industry.
Though there aren’t many of us who enjoy moving, staying put can be a bad decision, especially if the property market changes, or you outgrow your current office space. 83% of survey respondents stated that they would describe their current property as adequate for their business needs – down from 87% last year – although 50% stated they were considering moving to another property in the near future, meaning even if you find a suitable space for your business, it’s something that you’ll have to keep in mind down the line.
57% of owners and key decision-makers surveyed stated that renting is the biggest financial expense for their business, down from 59% last year. The survey results also revealed a drop in the average monthly spend on rent, down from $2,940 last year to $2,630 this year. While there was a notable drop, you’ll still be wanting to find the best deal available for your business, as any savings will help the bottom line.
Finding a store or location to operate out of can be a tough ask for businesses, particularly if you’re just starting out. Add in the ever-changing nature of the Aussie property market, as well as how quickly the business world changes, and the perfect place you’ve found may not be suitable a few months down the line.
With the sheer variety of properties available on the market, utilising real estate agents to help you find the best spot for your small business could save you hours of work as well as sleepless nights. Ultimately though, which commercial estate agent you decide to do business with will come down to your personal situation and preferences. As a result, it’s best to look into all of your options, as like potential premises, one may suit your business better than others.
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This report was written by Canstar Blue’s Home & Lifestyle Content Lead, Megan Birot. She’s an expert on household appliances, health & beauty products, as well as all things grocery and shopping. When she’s not writing up our research-based ratings reports, Megan spends her time helping consumers make better purchase decisions, whether it’s at the supermarket, other retailers, or online, highlighting the best deals and flagging anything you need to be aware of.
Photo credit: sirtravelalot/shutterstock.com
Canstar Blue surveyed 1,600 Australian small to medium-sized business owners or key decision-makers (i.e. the key decision-maker for the business) across a range of categories to measure and track customer satisfaction, via ISO 26362 accredited research panels managed by Qualtrics. The outcomes reported are the results from customers within the survey group who have used the services of a real estate agent for business purposes in the last 3 years – in this case, 377 people.
Brands must have received at least 30 responses to be included. Results are comparative and it should be noted that brands receiving three stars have still achieved a satisfaction measure of at least six out of 10. Not all brands available in the market have been compared in this survey. The ratings table is first sorted by star ratings and then by mean overall satisfaction. A rated brand may receive a ‘N/A’ (Not Applicable) rating if it does not receive the minimum number of responses for that criteria.
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