Technology’s changed the game, are you staying ahead?

challenge---tech

Around twenty years ago, web-based advancements revolutionised the property industry, increasing your reach as much as your workload, your responsibilities and your customers’ expectations.

In 2018, technology has once again spun the sector on its head, and here’s our view on what the fallout is for agents.

Today, we use the internet for just about everything. From the mundane things, like carrying out the weekly shop (48% of Brits), to finding available properties (89%), there’s next to nothing that the modern-day consumer can’t do when and where they want.

The power of online has been ingrained into every aspect of our lives. So, it goes to show that if the same can’t be said for your business, then you’re facing some very serious limitations.

 

Challenge 1: Too many contacts, too little time

With portals – and your online presence – bringing in more business, it’s now your job to wade through 100s and 1000s of property viewing and valuation requests, just to get to the one that’s ready to sell, buy, let or rent.

At the touch of a button, your customers can express an interest in your properties, services and brand.

Because of this, it’s not always clear where you should prioritise your time – an already valuable commodity – or know what leads you’re allowing to slip away. So, how do you qualify the expressions of interest that you receive?

Technology offers the answer to this.

Email marketing will help you to identify your hottest prospects. From a single sales message, you can create a pipeline of interested prospects who’ve clicked on a particular property more than once, or work out who’s looking to sell soon.

Monitoring your email opens and click-throughs with intuitive reporting – see below for an example – provides you with a way to comb through your database and effectively target your prospects.

How you treat your database will determine the future of your agency. Online agents are still building theirs, so for now, the advantage belongs to ‘traditionalists’.

And with the likes of the $10 million agent – Alexander Phillips – claiming that 40% of his transactions come from his “past customers”, you can certainly see the potential for growth from successfully mining your data.

 

Challenge 2: The ever-present threat of the online model

Online agents have built their model from the ground up with a customer experience that – at its core – is innovative.

By utilising technology to offer personalisation, flexibility and immediacy, they’ve quickly gained traction with today’s consumers, and caused a significant enough shift in the market for agents to take note and ask themselves: “am I doing enough to combat these disruptors now and for years to come?

According to accountants, Moore Stephens, over 150 estate agents went insolvent last year. And with predictions that a further 7,000 could be showing “signs of financial distress”, it’s crucial that high-street businesses don’t bury their heads in the sand and hope it all goes away.

Today’s consumers have been spoilt for choice. They’ve become accustomed to ordering products and services at a moment’s notice, and when pushed, are willing to jump to another brand to have those needs met.

You therefore need to be smarter with how you deliver exceptional customer service. The first step I’d take, would be to expand my online reach.

It’s no longer considered revolutionary to have a functional website and a basic presence on social media. Sure, these channels are still extremely useful – there’s no doubt about that – but having them is no longer considered a competitive differentiator, purely because everyone has them.

We offer agents a wide range of additional lead-generation channels, from E-Zines – which put your hottest properties in your customers’ inbox on a bi-weekly basis – to our online valuation tool, Digi-Val.

So, the opportunity is definitely there for agents looking to stand out.

 

Challenge 3: Comparisons are easier to make than ever

Today’s consumers are a fickle bunch, and that’s down to the fact that they’re faced with more choice than ever before. There’s an estimated 51,000 estate agents and auctioneers in the UK to date, and your customers have the means to look up and compare each and every one of them, should they so wish.

Eight out of ten Brits (79%) will see three agents and receive valuations from at least two of those before committing to an agency.

And even then, there’s no guarantee that their head won’t be turned by the promise of a better offer, as is the case for 43% of homeowners who become frustrated during the selling process.

So, how do you keep yourself in the running for their continued business?

Simply put, by convincing them that you are the go-to expert in your local area. And for this, you’ll need content, which 84% of consumers now expect as a given from any brand.

A daunting prospect for many, but with BriefYourMarket.com, you’ll have access to an expanding library, providing you with ready-to-send marketing material and freeing up your time to focus on your customers.

 

Innovative technology isn’t beyond your reach

We all have preferred ways of doing things, but when those time-consuming processes are putting you at a competitive disadvantage, is it worth it?

Technology offers you the means to improve your agency’s efficiency and keep your customers switched onto your brand, meaning that whether they’re ready in a week or a year, your customers will come to you first to sell or let their home.

Our multi-channel marketing platform is shaped by – and developed in response to – the challenges and opportunities within the industry.

If you’d like to find out how we can help you to revolutionise your agency in three months, download our guide here, or give us a call on 0344 800 84 24.

 

Communicate effectively with your customers like J...
The autumn hibernation effect in leisure
 

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Thursday, 13 December 2018

Technology’s changed the game, are you staying ahead?

challenge---tech

Around twenty years ago, web-based advancements revolutionised the property industry, increasing your reach as much as your workload, your responsibilities and your customers’ expectations.

In 2018, technology has once again spun the sector on its head, and here’s our view on what the fallout is for agents.

Today, we use the internet for just about everything. From the mundane things, like carrying out the weekly shop (48% of Brits), to finding available properties (89%), there’s next to nothing that the modern-day consumer can’t do when and where they want.

The power of online has been ingrained into every aspect of our lives. So, it goes to show that if the same can’t be said for your business, then you’re facing some very serious limitations.

 

Challenge 1: Too many contacts, too little time

With portals – and your online presence – bringing in more business, it’s now your job to wade through 100s and 1000s of property viewing and valuation requests, just to get to the one that’s ready to sell, buy, let or rent.

At the touch of a button, your customers can express an interest in your properties, services and brand.

Because of this, it’s not always clear where you should prioritise your time – an already valuable commodity – or know what leads you’re allowing to slip away. So, how do you qualify the expressions of interest that you receive?

Technology offers the answer to this.

Email marketing will help you to identify your hottest prospects. From a single sales message, you can create a pipeline of interested prospects who’ve clicked on a particular property more than once, or work out who’s looking to sell soon.

Monitoring your email opens and click-throughs with intuitive reporting – see below for an example – provides you with a way to comb through your database and effectively target your prospects.

How you treat your database will determine the future of your agency. Online agents are still building theirs, so for now, the advantage belongs to ‘traditionalists’.

And with the likes of the $10 million agent – Alexander Phillips – claiming that 40% of his transactions come from his “past customers”, you can certainly see the potential for growth from successfully mining your data.

 

Challenge 2: The ever-present threat of the online model

Online agents have built their model from the ground up with a customer experience that – at its core – is innovative.

By utilising technology to offer personalisation, flexibility and immediacy, they’ve quickly gained traction with today’s consumers, and caused a significant enough shift in the market for agents to take note and ask themselves: “am I doing enough to combat these disruptors now and for years to come?

According to accountants, Moore Stephens, over 150 estate agents went insolvent last year. And with predictions that a further 7,000 could be showing “signs of financial distress”, it’s crucial that high-street businesses don’t bury their heads in the sand and hope it all goes away.

Today’s consumers have been spoilt for choice. They’ve become accustomed to ordering products and services at a moment’s notice, and when pushed, are willing to jump to another brand to have those needs met.

You therefore need to be smarter with how you deliver exceptional customer service. The first step I’d take, would be to expand my online reach.

It’s no longer considered revolutionary to have a functional website and a basic presence on social media. Sure, these channels are still extremely useful – there’s no doubt about that – but having them is no longer considered a competitive differentiator, purely because everyone has them.

We offer agents a wide range of additional lead-generation channels, from E-Zines – which put your hottest properties in your customers’ inbox on a bi-weekly basis – to our online valuation tool, Digi-Val.

So, the opportunity is definitely there for agents looking to stand out.

 

Challenge 3: Comparisons are easier to make than ever

Today’s consumers are a fickle bunch, and that’s down to the fact that they’re faced with more choice than ever before. There’s an estimated 51,000 estate agents and auctioneers in the UK to date, and your customers have the means to look up and compare each and every one of them, should they so wish.

Eight out of ten Brits (79%) will see three agents and receive valuations from at least two of those before committing to an agency.

And even then, there’s no guarantee that their head won’t be turned by the promise of a better offer, as is the case for 43% of homeowners who become frustrated during the selling process.

So, how do you keep yourself in the running for their continued business?

Simply put, by convincing them that you are the go-to expert in your local area. And for this, you’ll need content, which 84% of consumers now expect as a given from any brand.

A daunting prospect for many, but with BriefYourMarket.com, you’ll have access to an expanding library, providing you with ready-to-send marketing material and freeing up your time to focus on your customers.

 

Innovative technology isn’t beyond your reach

We all have preferred ways of doing things, but when those time-consuming processes are putting you at a competitive disadvantage, is it worth it?

Technology offers you the means to improve your agency’s efficiency and keep your customers switched onto your brand, meaning that whether they’re ready in a week or a year, your customers will come to you first to sell or let their home.

Our multi-channel marketing platform is shaped by – and developed in response to – the challenges and opportunities within the industry.

If you’d like to find out how we can help you to revolutionise your agency in three months, download our guide here, or give us a call on 0344 800 84 24.

 

Communicate effectively with your customers like J...
The autumn hibernation effect in leisure
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Thursday, 13 December 2018
 
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