After a 16-month break from the property industry I returned to find a landscape that had shifted more than I expected.
The private B2C surveying sector, once a steady, professional space, had become increasingly competitive.
While overall market growth has been modest, the intensity of competition for residential survey work has surged. And with that, a troubling trend has emerged: a race to the bottom on pricing.
Having worked in property for years, I’ve seen this pattern before, most notably in the conveyancing sector.
A friend outside the industry recently asked: “Isn’t that good for the customer?”
It’s a fair question. On the surface, lower prices seem like a win for buyers.
But dig a little deeper, and the picture becomes more complicated.
HIDDEN COST OF CHEAP SURVEYS
Surveying isn’t immune to the rising costs affecting every corner of business.
Salaries are climbing due to a shortage of qualified surveyors. Insurance premiums are up. Operational costs, from software to travel, continue to rise.
Yet, despite these pressures, the average fee for a Level 2 or Level 3 survey is falling.
“Many firms are pushing surveyors to complete more jobs.”
To maintain profitability, many firms are pushing surveyors to complete more jobs per day or week.
The result? Less time on site, rushed report writing and a growing risk of missed issues. If corners are being cut to fit more surveys into the schedule, how is that good for the customer?
A survey is meant to provide reassurance. When quality drops, the risk to buyers increases, whether it’s hidden damp, structural concerns or costly repairs that go unnoticed.
BURNOUT AND LOSS OF EXPERIENCE
There’s another consequence of this pricing pressure: surveyor burnout.
Experienced professionals are being stretched thin and newly qualified surveyors are being thrown into high-volume roles before they’ve had time to build confidence and judgment.
I’ve heard firsthand that some firms favour new recruits simply because they command lower salaries.
But pushing them too hard and too fast risks losing them from the industry before they’ve even found their footing.
We’ve all seen the scramble to recruit and retain surveyors. If we don’t protect the wellbeing and development of our professionals, we’ll face an even deeper shortage in the years ahead.
PRICE COMPARISON PLATFORMS
Price comparison websites have become a major source of leads for surveying firms. They offer visibility, volume and convenience. But they also contribute to the pricing problem.
When quotes are sent automatically and the customer is presented with a list of fees it’s no surprise they choose the cheapest.
“Transparency is valuable but when price becomes the only metric quality suffers.”
Transparency is valuable but when price becomes the only metric quality suffers.
These platforms could do more to highlight credentials, experience and service standards, not just cost. Until they do, firms must find ways to stand out for the right reasons.
It should come as no surprise then that we’re actively working to raise our average fee. Not because we want to charge more for the sake of it but because we believe in delivering exceptional value.
QUALITY MATTERS
We’re focused on exceeding Home Survey Standards, educating customers about what a survey involves and showing them why quality matters.
It’s not easy to swim against the tide of falling fees. But we believe it’s necessary. With a shortage of surveyors and rising costs across the board, the industry must start valuing itself properly.
High-quality reports, thorough inspections and professional service deserve fair compensation.
INDUSTRY COLLABORATION
This isn’t just about one firm. It’s about the future of the surveying profession. If we continue down the path of ever-lower fees, not only do we risk a rise in the number of firms being unable to trade profitably and surveyors leaving the industry due to burnout but also a decline in public trust as quality drops.
We’ve all been guilty of dropping a fee to keep the diary full. But if we work together as firms, platforms and professional bodies, we can stop the race to the bottom and build a stronger, more respected industry.
“We need to shift the conversation away from price.”
By raising awareness of what a survey involves, we shift the conversation away from price alone.
The more we, as an industry, work collectively to educate the public on the importance of surveys, the more likely customers are to commission them.
This not only protects buyers from costly surprises but also strengthens the entire surveying profession
Maybe my time away has given me rose-tinted glasses. Or maybe it’s given me clarity. Either way, I believe we can do better, for ourselves, for our clients and for the future of surveying.
