The BriefYourMarket.com blog

This is some blog description about this site

Estate agency legends and their insight...

propshow-blog

During a 20-minute conversation with Christopher Watkin, we discuss everything from the consequences of a contracting market to effective email marketing tips that every agent ought to know.

To hear what our industry experts have to say on these topics, check out their PropShow Q&A…

 

 

It’s not an understatement that David Newnes is an absolute legend within the industry, having been influential in the success of LSL, Your Move and Reeds Rains – and now – BriefYourMarket.com.

Joined by our PropTech guru and CEO – Damon Bullimore – and our Marketing Director – Ryan Hampson, we talk to Christopher Watkin and his team – Chris England and Matt Lee – about what it will take for agents to tackle the challenges and opportunities that 2019 presents...

 

How can estate agents use more modern techniques?

David: If I was still active in estate agency right now, I’d be using every tool I possibly could because the market is difficult and the number of instructions to go around has contracted.

So, for me, the best estate agency practice now is all about growing your market share.

There’s still a market there – and there’s still easily enough for the really good agents in each town to make a good profit – and a tool like BriefYourMarket.com does exactly that.

If the market is going to contract further, what do you think agents can do to counteract that?

David: I think it’s very difficult to predict, and some of this is going to depend on how Brexit lands, but the biggest part really is public confidence.

To do with how they feel about their job, and the economy and what’s going to be happening.

If people are confident about that then they’ll think about moving again and that’s been very suppressed in the past couple of years, generally.

 

If the market does contract, if you’re buying and selling in the same market, is that going to have a huge impact?

David: No, it’s the public confidence around what’s the economy going to do, what’s going to happen to interest rates, what’s going to happen to my job, and what’s going to happen with import/export.

I don’t think a lot of people understand exactly what it is all about, they just have their overriding concern about “how might this affect me” and “I’ll tell you what, why don’t we just sit tight until this is sorted out”.

There are ways around that.

Agents with really good and effective marketing can demonstrate that the property you want to buy has come down more than the one that you want to sell.

Using the best marketing tools available to get that message across to your client base is more important than ever now and using something cost effective like BriefYourMarket.com to do that.

 

Do you think it’s the trading-up where people will win? Do you think there will be some easing where people are wanting to improve their lot or buy bigger, do you think that’s where agents should try and capitalise?

David: I think they should try and capitalise on the whole market.

Trying to focus on just one particular sector – I think – is a mistake.

There are plenty of first-time buyers that have been saving and saving and saving – that will want to get on the ladder with things like help-to-buy – and there’s plenty of people that have got to move because they’ve had another child, or their jobs relocated.

 

Where do you think – Mr Watkin, as a UK property market journalist – that the sticking point will be?

Because if the market does contract and overall values come down, first-time buyers will be happy because their pound will be worth more. If you’re wanting to trade-up, you’ll also be wanting to move and that’s good for people in the middle ground.

Is it at the top end where people have got the bigger properties that they’re going to hold onto them thinking: “I’m not going to lose my money, I’m going to sit tight”?

Chris: My opinion is that the biggest issue – like David said – is confidence.

You know, if it’s a good market, peoples’ perception is that’s good for sellers, but a good market for sellers means it’s a bad market for buyers. So, if the market drops, that means it’s a good market for buyers and not necessarily for sellers, but most people are buyers and sellers in the same market.

We as an industry need to educate the people in our locality, that whilst things are changing, it’s not actually changing a great amount when you work your sums out.

I think that’s really what it comes down to.

David: And to be clear – I mean – I’m certainly not an advocate of saying that the market is going to contract, and prices are going to go down next year.

I think it’s highly unlikely that prices are going to go shooting up and we’re going to see a big increase in volume, but I think there’s every opportunity that the market could be flat.

Chris: Interestingly, since the referendum vote, average property prices in the UK have risen by 17%. And if we had another crash – like we had in 2008/09, where property prices dropped on average about 18% – we would only be going back to where we were, so it’s all about perception.

Damon: Of course, and I think what you need to remember is that when we come out of it, people just have pent up frustration – no matter what’s happened – because the media paint loads of pictures about the market.

Eventually, people just get tired of that, they’re like: “well I’m going to move anyway because we’d rather roll the dice”.

And, I’m sure we’ll see that momentum go again within the next year or so.

David: The reality is that the good agents are still out there plugging away, exactly the same as they were, trying to grow their market share and doing deals both in sales and lettings.

Whereas the people that have their heads down, saying the market is dreadful, are the people that are going to find it difficult.

Chris: You and I have been through a market back in 2008/09 – and also during the other crash in the late 80s and early 90s

We survived that, and I think we just have to dust off our old manuals and go back to the old traditional methods.

David: And to take it back to the original question, around tech, I would be using everything at my disposal.

Chris: How great is it that you can now get your message out without having to spend £2,000 a month on newspaper advertisements?

Matt: You can use Rightmove, and BriefYourMarket.com, and still be quids-in.

 

What are your top tips for email?

So that’s in terms of content, subject lines and when you should send…

Damon: One of the things I always worry about – in anything – is people coming up with generalisations.

Rather than use a one-size-fits-all approach, BriefYourMarket.com works around what is the best for you, for your customers.

Inside our ROI reports, it will tell you what’s the best campaign you’ve sent and what’s the best time that you should send it.

We do see variations depending on the content that you’re sending and when, as they are intrinsically linked, so you can then utilise that data.

 

 

What would you say is the best thing to send, starting with subject lines?

Damon: Okay, so some subject line top tips from me, is making it a really ‘gotcha’ kind of statement – that’s powerful and impactful – and makes you want to open the email.

We’re not talking about clickbait, it can’t say something like “earn £50,000 by opening this email”, but something that’s really engaging.

Another consideration is to make sure it’s relevant to time. If you’re doing a March newsletter, make sure you put “March” in there. And also, we’re noticing that the use of emojis is really taking off in subject lines.

Ryan: Questions always work really well, so that could look something like: “How much is your property worth?”, which hooks the reader in straightaway.

 

What do you think works best in terms of content?

Is it written, is it visuals, is it video?

Ryan: Video always gets the highest engagement, because people are getting – in the nicest possible way – lazier.

If they don’t want to read through loads of text, video always works.

Personalisation of content also plays a crucial role. For instance, the more relevant it is to the person and – equally so – to property prices, the better your response rates will be.

 

So, how does that work in terms of personalisation? Does your system pull through details such as: ‘Dear Mrs Jones’?

Ryan: Yes, there’s snippets you can put in each type of communication.

For example, you can pull in all the data stored in your CRM system, including: names, addresses, key dates for valuations and instructions, and exchange and completion dates.

Damon: We always say that if every email was relevant to you, you’d open every single one of them.

What you’re deleting is the stuff that you’re not interested in, which helps an agent to keep their database up-to-date and performing at peak efficiency.

 

What’s your thoughts on images in the main body of the text?

Damon: Utilising images is really important, but you have to remember that if your customers are opening that message in outlook, they’re going to get the white box and the red ‘X’. So, you’ve got to think about having a grabbing statement in your text to make them want to download the images.

Then, with regards to smartphones, you’ve got to make sure that your emails are mobile-ready, and that they automatically download the images for you.

A well-balanced blend of text and images will ensure that your email reaches your customers, and with that right ratio, does not get misidentified as spam.

 

You can stop missing opportunities in 2019, contact our team for an online demonstration to find out how...

 

 

 

 

 

Looking ahead with your brokerage...
Referrals | Brexit | Tenant fee ban

The BriefYourMarket.com blog

This is some blog description about this site

Estate agency legends and their insight...

propshow-blog

During a 20-minute conversation with Christopher Watkin, we discuss everything from the consequences of a contracting market to effective email marketing tips that every agent ought to know.

To hear what our industry experts have to say on these topics, check out their PropShow Q&A…

 

 

It’s not an understatement that David Newnes is an absolute legend within the industry, having been influential in the success of LSL, Your Move and Reeds Rains – and now – BriefYourMarket.com.

Joined by our PropTech guru and CEO – Damon Bullimore – and our Marketing Director – Ryan Hampson, we talk to Christopher Watkin and his team – Chris England and Matt Lee – about what it will take for agents to tackle the challenges and opportunities that 2019 presents...

 

How can estate agents use more modern techniques?

David: If I was still active in estate agency right now, I’d be using every tool I possibly could because the market is difficult and the number of instructions to go around has contracted.

So, for me, the best estate agency practice now is all about growing your market share.

There’s still a market there – and there’s still easily enough for the really good agents in each town to make a good profit – and a tool like BriefYourMarket.com does exactly that.

If the market is going to contract further, what do you think agents can do to counteract that?

David: I think it’s very difficult to predict, and some of this is going to depend on how Brexit lands, but the biggest part really is public confidence.

To do with how they feel about their job, and the economy and what’s going to be happening.

If people are confident about that then they’ll think about moving again and that’s been very suppressed in the past couple of years, generally.

 

If the market does contract, if you’re buying and selling in the same market, is that going to have a huge impact?

David: No, it’s the public confidence around what’s the economy going to do, what’s going to happen to interest rates, what’s going to happen to my job, and what’s going to happen with import/export.

I don’t think a lot of people understand exactly what it is all about, they just have their overriding concern about “how might this affect me” and “I’ll tell you what, why don’t we just sit tight until this is sorted out”.

There are ways around that.

Agents with really good and effective marketing can demonstrate that the property you want to buy has come down more than the one that you want to sell.

Using the best marketing tools available to get that message across to your client base is more important than ever now and using something cost effective like BriefYourMarket.com to do that.

 

Do you think it’s the trading-up where people will win? Do you think there will be some easing where people are wanting to improve their lot or buy bigger, do you think that’s where agents should try and capitalise?

David: I think they should try and capitalise on the whole market.

Trying to focus on just one particular sector – I think – is a mistake.

There are plenty of first-time buyers that have been saving and saving and saving – that will want to get on the ladder with things like help-to-buy – and there’s plenty of people that have got to move because they’ve had another child, or their jobs relocated.

 

Where do you think – Mr Watkin, as a UK property market journalist – that the sticking point will be?

Because if the market does contract and overall values come down, first-time buyers will be happy because their pound will be worth more. If you’re wanting to trade-up, you’ll also be wanting to move and that’s good for people in the middle ground.

Is it at the top end where people have got the bigger properties that they’re going to hold onto them thinking: “I’m not going to lose my money, I’m going to sit tight”?

Chris: My opinion is that the biggest issue – like David said – is confidence.

You know, if it’s a good market, peoples’ perception is that’s good for sellers, but a good market for sellers means it’s a bad market for buyers. So, if the market drops, that means it’s a good market for buyers and not necessarily for sellers, but most people are buyers and sellers in the same market.

We as an industry need to educate the people in our locality, that whilst things are changing, it’s not actually changing a great amount when you work your sums out.

I think that’s really what it comes down to.

David: And to be clear – I mean – I’m certainly not an advocate of saying that the market is going to contract, and prices are going to go down next year.

I think it’s highly unlikely that prices are going to go shooting up and we’re going to see a big increase in volume, but I think there’s every opportunity that the market could be flat.

Chris: Interestingly, since the referendum vote, average property prices in the UK have risen by 17%. And if we had another crash – like we had in 2008/09, where property prices dropped on average about 18% – we would only be going back to where we were, so it’s all about perception.

Damon: Of course, and I think what you need to remember is that when we come out of it, people just have pent up frustration – no matter what’s happened – because the media paint loads of pictures about the market.

Eventually, people just get tired of that, they’re like: “well I’m going to move anyway because we’d rather roll the dice”.

And, I’m sure we’ll see that momentum go again within the next year or so.

David: The reality is that the good agents are still out there plugging away, exactly the same as they were, trying to grow their market share and doing deals both in sales and lettings.

Whereas the people that have their heads down, saying the market is dreadful, are the people that are going to find it difficult.

Chris: You and I have been through a market back in 2008/09 – and also during the other crash in the late 80s and early 90s

We survived that, and I think we just have to dust off our old manuals and go back to the old traditional methods.

David: And to take it back to the original question, around tech, I would be using everything at my disposal.

Chris: How great is it that you can now get your message out without having to spend £2,000 a month on newspaper advertisements?

Matt: You can use Rightmove, and BriefYourMarket.com, and still be quids-in.

 

What are your top tips for email?

So that’s in terms of content, subject lines and when you should send…

Damon: One of the things I always worry about – in anything – is people coming up with generalisations.

Rather than use a one-size-fits-all approach, BriefYourMarket.com works around what is the best for you, for your customers.

Inside our ROI reports, it will tell you what’s the best campaign you’ve sent and what’s the best time that you should send it.

We do see variations depending on the content that you’re sending and when, as they are intrinsically linked, so you can then utilise that data.

 

 

What would you say is the best thing to send, starting with subject lines?

Damon: Okay, so some subject line top tips from me, is making it a really ‘gotcha’ kind of statement – that’s powerful and impactful – and makes you want to open the email.

We’re not talking about clickbait, it can’t say something like “earn £50,000 by opening this email”, but something that’s really engaging.

Another consideration is to make sure it’s relevant to time. If you’re doing a March newsletter, make sure you put “March” in there. And also, we’re noticing that the use of emojis is really taking off in subject lines.

Ryan: Questions always work really well, so that could look something like: “How much is your property worth?”, which hooks the reader in straightaway.

 

What do you think works best in terms of content?

Is it written, is it visuals, is it video?

Ryan: Video always gets the highest engagement, because people are getting – in the nicest possible way – lazier.

If they don’t want to read through loads of text, video always works.

Personalisation of content also plays a crucial role. For instance, the more relevant it is to the person and – equally so – to property prices, the better your response rates will be.

 

So, how does that work in terms of personalisation? Does your system pull through details such as: ‘Dear Mrs Jones’?

Ryan: Yes, there’s snippets you can put in each type of communication.

For example, you can pull in all the data stored in your CRM system, including: names, addresses, key dates for valuations and instructions, and exchange and completion dates.

Damon: We always say that if every email was relevant to you, you’d open every single one of them.

What you’re deleting is the stuff that you’re not interested in, which helps an agent to keep their database up-to-date and performing at peak efficiency.

 

What’s your thoughts on images in the main body of the text?

Damon: Utilising images is really important, but you have to remember that if your customers are opening that message in outlook, they’re going to get the white box and the red ‘X’. So, you’ve got to think about having a grabbing statement in your text to make them want to download the images.

Then, with regards to smartphones, you’ve got to make sure that your emails are mobile-ready, and that they automatically download the images for you.

A well-balanced blend of text and images will ensure that your email reaches your customers, and with that right ratio, does not get misidentified as spam.

 

You can stop missing opportunities in 2019, contact our team for an online demonstration to find out how...

 

 

 

 

 

Looking ahead with your brokerage...
Referrals | Brexit | Tenant fee ban
 
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