With the culling of property newspaper advertising & print marketing in general too, where now lies the general marketplace for all things property?
The portals? Nope, they're just property directories & entertainment channels.
Radio/TV? Nope, too transitory + very expensive!
How about an estate agent's own website?
You've already spent money creating it, why not let it earn its keep & work hard for your business?
Change people's perception & utilise it as your very own digital local newspaper where there can never be any intrusion by competitors.
Drive traffic to it, build an audience & capture visitor's email addresses.
Regard your database as your subscribers, interact with them often just as newspapers do.
If you can't pull people into your physical office, the least you can do is pull them into your virtual office!
Why does your Home Page - the front page of your digital in-house publication - remain static? You never see the same cover on a magazine twice.
Your website doesn't have to be just property-based either. Make it the go to source for local event info, new business openings, etc.
Become a Community Champion, be philanthropic in your local community. People admire & respect and are likely to reciprocate when it comes to selling/letting property.
Speak to local businesses about mutually-supportive ideas e.g. a directory & promote them on your website.
Put out superb editorial content produced by great writers such as Chris Arnold (@personalbrand08) and/or Chris Watkin (@LettingsChris).
Become a publisher without you even realising it!
Have people come to your website when they're not even actively involved in the market!
These people will soon recommend your site to friends/family &, before you know it, you're going viral!
Why do hardly ever see any agents do any of this that we've described above?
Probably down to portal-fixation, portal-reliance & portals draining their marketing budgets.
They cannot visualise the huge rewards possible from having their own dedicated online marketing channel, possibly because they're not seeing anyone else creating the bandwagon.
See the supply shortage as a signal to change direction and put lots of effort into your own site.
Lots of free or low cost & effective means of driving traffic to your site too - free social media, Google My Business, tinkering with SEO.
Of course, if you already subscribe to @rummage4_prop, you'll realise that this property utility does a lot of this hard work for you.
At no extra cost to your low monthly subscription.
The battle to win new business is only likely to intensify, make sure all your 'ducks are in a row', if not, take action now to widen the gap between you and your competitors.
Such an important activity that agents should be doing right now. They can no longer wait for the business to come to them, they must go out & grab it. Savvy ones have seen this time coming and are ahead of the curve.
2. Database Building
High Street agents already maintain a list of contacts but extra effort to expand it can bring huge rewards.
Make sure that your own website has a customer-acquiring system embedded; we are starting to market one that has a seriously impressive ROI.
3. A Polished Pitch
It’s hard enough to secure that market appraisal appointment, however, the real pressure starts once over the threshold.
Professional, persuasive and trust-inducing presentations, that avoid pulling down competitors, will help lift your closing ratio.
We've posted about this before but in this current high-demand, low-supply market, it might be in their best interests for agents to give this concept some thought.
Some may already have it in place, it certainly helps cash-flow when things are tight.
We are constantly repeating our belief that an estate agent’s own website is their most under-rated, under-utilised and under-invested in marketing tool.
It’s an agency’s very own Town Square; a place where no competitor can be heard.
It acts as many things; An agency’s very own online digital magazine, a unique brand ambassador, a place where they can interact one-to-one with people interested in property.
Such an important part of the agency’s DNA.
So, why then are many sooooo disappointing?
Do some agencies regard them a necessary evil; ‘Well, the competition’s got one so I suppose we had better have one’?
Some firms don’t even bother to build one, their Home Page consists a few company details and a search box which takes people straight to Rightmove. That’s it.