Adapting To Compete With The Online Agent – Interactive Property Search Devices

On 19th May 2016, Miles Shipside of Rightmove announced to Future Property Tech conference attendees that online agents accounted for 5% of the market – a share doubled in the space of two years. A year on, it is hard to find a comparable statistic, but few would doubt the online sector’s sustained growth. It is easy to attribute the rise of the online agent to slashed fees – but this factor does not tell the full story. What’s more, it is of limited use to traditional estate agents who seek to compete but still have overheads to cover.

The popularity of online agents plays into a much wider narrative of consumer autonomy. In today’s digital marketplace, 82% of customers carry out online research before making a purchasing decision. If we are straight to Google on our smartphones when we want to buy new trainers, understandably online research plays a huge part in the milestone decisions that are buying, selling, renting or letting property. Fortunately for bricks-and-mortar estate agents however, studies also show that 38% of in-store visits are motivated by the desire to seek in-person professional advice. Crucially, online agents lack the local knowledge that comes with being part of a highstreet community. The modern consumer then has a conflicting desire for autonomy and counsel.

This balance is precisely where interactive property search devices come in. More and more estate agents are introducing interactive technology to their agencies – whether in the form of tablets, touchscreens or kiosks. In the most effective instances, these agencies are deploying bespoke property search apps on these platforms: smartly branded white label solutions.

In larger cities in particular, one would be forgiven for mistaking a new lettings agency for an Apple store. Look hard enough and you can find the timeless property brochures and light-pockets, but now also prospective buyers and vendors swiping away on tablets.

Someone passing on the highstreet might not have the time (or desire) to sit down formally with an agent; but they might spare a minute to do a quick search on a user-friendly kiosk. Any properties that catch their eye they can email to themselves, or capture using a beacon, to notify passers by. The very same action might notify the agency itself of their interest and provide valuable contact details. If nothing else, interactive search devices can be used as a marketing tool to build mailing lists, with a user’s search criteria informing an agency of the types of property ads they might like to receive.

Interactive property search devices are not a substitution for the act of sitting down with an estate agent. It’s not a case of an agent being replaced by a tablet or kiosk. The device itself is a sales tool for the agent.

Merely by getting people through the door, agencies are creating opportunities for conversation. Prospects might have a question for one of the team, or an agent might control the device themselves and assist with the search. These more casual interactions help nurture a consultative relationship that is proven to pay off more than a direct sales approach. Even those that come in, use the interactive search and leave, are still more tangible leads than those peering at displays in the window and never stepping foot inside.

For the traditional estate agent, the reality emerging in the past few years is that many prospects now simply prefer to property search at home on an iPad. How does the family-run agency compete? It’s not rocket science. They imitate. By recreating the environment modern-day consumers feel most comfortable in, footfall can and will return to the highstreet. Agents once used to giving formal consultations in an office behind a desk might find themselves in a tech-filled lounge area, making a prospect a cup of tea while they browse a tablet, but consumer habits change and the sales process has to adapt.

Too often a false opposition is maintained between the online estate agent and the traditional ie. ‘offline’ agency. Innovations in proptech, however, are blurring this distinction. Interactive property search devices are just one example of bricks-and-mortar agencies learning from digital developments and evolving on the highstreet to compete in a new consumer landscape.

Guest article by Lee Gannon, Marketing Executive at TrouDigital. TrouDigital are based in Southampton and work with estate agents around the UK to provide innovative property marketing solutions.

 

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

Popping the Asking Price Bubble

Where in the Uk Can Buyers Snap Up Property Bargains and Where Properties Go for a Premium Above Asking Price   New research from fast selling property company, Upstix has uncovered the UK’s most surprising postcodes for snapping up a property at bargain prices this year, highlighting a widening gap between sellers’ expectations and the…
Read More
Rightmove logo
Breaking News

Highest demand to lease office space since pre-pandemic

The latest insights from the UK’s number one commercial property website Rightmove, reveals that the number of unique enquiries to lease office space is at its highest point since pre-pandemic, as businesses look for spaces that meet modern requirements. Demand to lease office space is 19% higher than the same period a year ago and…
Read More
Planning disputes on new build land
Estate Agent Talk

Planning consultations for major infrastructure to be streamlined

Robert Bruce, a planning and infrastructure partner at law firm Freeths LLP, said he: “Welcomed the change as a significant step to speeding up the DCO process and the focus on the quality and effectiveness of the consultation, rather than box ticking and a risk averse approach to pre-application consultation due to the current legal…
Read More
Breaking News

‘The property ladder pulls further away’ warns Open Property Group

For many first-time buyers across England, the dream of homeownership continues to slip further out of reach. Despite rising wages, soaring house prices are making it harder than ever to get on the property ladder. A leading UK professional house buying company ‘Open Property Group’ based in Buckinghamshire UK, has raised concerns over the ongoing…
Read More
Estate Agent Talk

How Long It Takes to Buy a House in the UK: 5 Common Delays That Can Slow Down Your Home Purchase

Wondering how long it takes to buy a house in the UK? The average timeline ranges from 8 to 22 weeks, but even that can stretch significantly due to unexpected delays, especially if you’re a first-time buyer or caught in a chain. That’s why working with experienced professionals like Belvoir — one of the UK’s…
Read More
Love or Hate Rightmove
Breaking News

Rightmove to host Renters’ Rights Bill webinar with Guild of Lettings

Rightmove is hosting a live and interactive webinar session with the Guild of Lettings to help agents get Renters’ Rights Ready. The webinar will take place from 10:00am – 11:00am on Wednesday 23rd April. Susie Crolla, Managing Director for the Guild of Lettings, will be joining Rightmove to help agents with questions they may have about…
Read More