HOW AGENTS CAN TAKE BACK SHARE FROM PURPLEBRICKS THROUGH SOCIAL MEDIA

Purplebricks is on the tip of the tongues of many small and medium-sized estate agents, who are seeing their market share being eroded on a local level, by the online giant. According to Chatty Imp, specialists in delivering social media campaigns in the property market, many agents are desperate to find ways to compete with the online giant.

Purplebricks announced its instructions rose by 108% and that average revenue per customer was up 20.6 for the six months to October 2016. Purplebricks said it is in a strong financial position, with net cash of £29.1m and pointed to over achieved 10,580 Trustpilot reviews, scoring it 9.4 out of ten, with over 10,000 rating it as excellent.

So what can agents do to protect their market share from Purplebricks? Peter Watson, Managing Director of Chatty Imp comments: “We have been listening to agents over the last 12 months and many are concerned about the growth and success of Purplebricks.  Whilst many agents recognise that there is room in the market for the two estate agency models, traditional and digital, they recognise that low-cost price packages are proving very attractive to home movers.

“The good news is that low-cost online agents don’t suit everyone.  Traditional agents offer home movers so much more and they have a great opportunity to increase their market share, through effective and cost effective digital marketing. This is where they can compete with Purplebricks head on.

“We all know that more and more home buyers start their search for an estate agent online, rather than searching through local papers and magazines.  Estate agents need to ensure they maximise their online presence to drive new instructions.

“While many agents may focus on improving their websites and press advertising, many can benefit from targeted local marketing, through social media. For example, potential customers can be targeted, by postcode with Facebook ads reflecting the same design as a printed flyers. So consumers will see the flyer through their door and when they visit Facebook, they will see an advert with the same design.

“Facebook remarketing is also very effective at reaching potential customers.  If a consumer visits an estate agency website, they can then be followed on Facebook, with scheduled content that tells them how quickly the agent sells property; how close to asking price they achieve; and average number of viewings and offers per property.

“Unfortunately many social media campaigns carried by estate agents don’t generate tangible results. Scheduling posts across social media that neither engage, or entertain potential customers and posting links back to Rightmove on properties for sale, do not drive instructions.

“Over the last 12 months we have been working with estate agents all over the UK to provide them with property valuation leads. Over this time, we have built a track record in delivering converting valuations, and helping agencies grow.

Diane Ashley, Manager at Newark Whitegates commented: “Over the last two months, we have been using Facebook advertising to support our local leafleting in order to drive instructions and it has proved to be highly successful.  We are starting to invest more and more budget in digital marketing, as it is highly effective in targeting potential new vendors.”

For further information, please visit www.chattyimp.co.uk or call 01522 716171.

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.

You May Also Enjoy

Breaking News

Breaking Property News – 28/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Birchgrove and Hybr launch intergenerational living scheme A unique partnership will see students, key workers and retirees live together at new north London retirement development. Birchgrove, the UK’s leading provider of rented retirement homes, and Hybr, the UK’s leading student letting platform, today announce an industry-first…
Read More
Estate Agent Talk

Benefits Of Choosing Roger Bates Properties

Roger Bates Properties stands out as a prominent real estate agency that offers a myriad of benefits to individuals seeking to buy, sell, or invest in real estate. With a stellar reputation and a commitment to excellence, choosing Roger Bates Properties can prove to be a decision that yields numerous advantages. 1. Experience and Expertise…
Read More
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker – 28/02/24

The average 5-year fixed mortgage rate is now 4.80%, up from 4.59% a year ago The average 2-year fixed mortgage rate is now 5.15%, up from 4.92% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.73%, up from 4.64% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.30%, up from 4.25% a year ago The average monthly mortgage payment on a…
Read More
Love or Hate Rightmove
Breaking News

Rightmove calls for stamp duty reform with only 4% of London homes exempt

Ahead of the Spring Budget on March 6th, the UK’s biggest property website Rightmove suggests three policy reforms that could help people moving home: A reform of stamp duty to consider regional property price variations: Only 4% of homes in London are stamp duty exempt for all buyers, compared to 71% in the North East Less than…
Read More
Breaking News

Breaking Property News – 27/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Alto reveals ‘next generation’ of Lettings Progression Alto, software for estate agents and part of Houseful, has revealed further information about the improvements being rolled out in 2024 to drive a step change in business efficiency for letting agents. Leading the way is a…
Read More
Home and Living

The Versatility of Parquet Flooring in Contemporary Homes

What comes into your mind when you hear about parquet flooring? Most probably Victorian era, historic estates, grand ballrooms, and grand mansions but what if I tell you that the parquet flooring has redefined itself with warmth, texture, and classic elegance? Parquet flooring in contemporary homes is a delight to the eyes because when you…
Read More