In the last 10 years, the property industry has dramatically changed. Traditional estate agents have fallen behind with technology online and have given free rein to the online agencies to try and take over the whole buying and selling process.
There is no getting away that the future may look bleak for traditional estate agents. In 2018 alone the BBC reported that more than 7,000 high street estate agents are in financial distress. “The report – from accountancy firm Moore Stephens – suggests that some 27% of agents are struggling to survive” (BBC, 2018).
However… There is a way for traditional estate agents to once again reign supreme. Here are our top tips of beating the online agents.
Buying or selling a property is a huge milestone for anyone and can be a very stressful time. This is where online agents have got it wrong. Sure, we live in a world now where people want the fastest way to get what they want, but when it comes to buying and selling a property, you have to make sure that you ensure your prospects that you have their best interests at heart. A recent survey showed that despite the rise in technology usage, 56% of people still prefer to have a physical interaction with agencies. How easy are you making it for people to have face to face discussions with your agency?
Be Transparent it Builds Trust
People are drawn to agencies that are transparent. If you have a fully transparent buying and selling process that means…no hidden fees!! Granted the fees may appear to be higher than the online agents but so what, if you are ‘being human’ and ‘being transparent’ this adds value and people are happy to pay more for a trusted service.
There are two ways you can differentiate your agency; Cost Differentiation or Product Differentiation… We both know that there is no way that you can compete with online agency prices therefore, what you need to do is differentiate your product.
You need to add value to your product and service. What makes you better than the online agents? Is it your personal approach, expertise in a certain area, or track record? Having a value proposition is far greater than having a cheap service.
Ask yourself…What can I do that the online agents can’t?
Take Control of Your Marketing
If you’ve read the points above and thought to yourself… “I am already doing these things, but I am still getting nowhere”. It’s time to start investing in digital marketing.
Ask yourself. Is your website showcasing your products and services properly?
Your website should be a platform where you can demonstrate who you are and why people should choose you over the online agents. If your website is out of date it will be out of touch therefore, getting people to even stay on the site can be a real struggle. Is it time to invest in a new site?
Are you utilising social media effectively?
Social media is a fantastic way to show people you are real. Most agencies provide their services in their local area. Guess what, you can implement a strategy through social media where you can target your local area. Show of your knowledge and expertise and become the ‘Property Guru’, then you will beat the online agents. People want to know they are in safe hands.
Is there clear company transparency with all your media online?
A great way to get company transparency across is to get third-party endorsements. In other words, ask your previous clients to leave your estate agency reviews where possible. Google and Facebook are excellent places to start as these are most likely where the property search will start for prospects.
People love to read reviews because it shows you are human, it demonstrates transparency, it differentiates your agency, and it builds trust.
If you’re looking to get ahead of online agents, talk to the online property experts! We are always looking to help hard-working, professional Estate Agencies succeed online from all over the world.
Call: +44 1429 450510
Together we can beat the online agents!