Industry Interview: David Opie Marketing Manager of Landmark.co.uk

How important is it for estate agencies to keep on top of the world evolving within #PropTech?

The property sector in general is undergoing a seismic shift. The home move process, which has ostensibly remained unchanged since the 19th century, is coming under pressure from consumers to catch up with the digital age in which we live.

We are seeing it in law, where conveyancing management IT systems, offer the consumer more transparency with 24/7 access to their case progress. For the solicitor, who has seen their fee eroded significantly, technology has enabled them to make their business more efficient.

Sound familiar? Irrelevant to the online/high street debate, the consumer demands more for their money. A quick glance at the entrepreneurs behind the latest offerings is revealing; many do not come from an estate agency or property background. They have identified an opportunity to exploit and are bringing innovative ideas to the table.

As with most technologies, things are moving quickly. Do agents need to be abreast of everything…? No. Do they need to look at their geographic, demographic, sources of business, marketing, messaging, identity etc…? Yes… only then will they best identify what they need to move their business forward.

Can an estate agency have a majority of it’s marketing and software managed by one company or are we will still in the territory of having to use multiple agencies to supply our services?

Our work life is more and more like our personal life with various logins to products and services required to simply to our jobs. There is a growing demand for a more consolidated solution to improve efficiency and deliver a better service to clients.

But software providers are not floor plan experts, or compliance experts, or marketing experts. There is still a need for that experience and specialism. I think we will see decisions to take on new products influenced by the ability to deliver more “added value” services over and above the core offering.

One way in which we’re seeing this is the integration of third party apps into agency software. Metropix were the first floor plan provider to offer an integration solution to the software providers.

This is something I believe the software providers need to be alert to; to be a “hub” to access the vast array of apps and services available. This will not only strengthen their own proposition within their market but also present opportunities to embed mutually beneficial relationships between suppliers to leverage their respective client relationships.

What is the usual barrier within estate agency that stops estate agents from embracing the latest in innovation? Is it time, costs or simply a lack of trust?

With the average home owner on the move every 7 years the biggest challenge to estate agents is winning new valuations and listings. Aside from Lettings, there is very little ongoing repeat business. This places an enormous focus on new business generation detracting from investing energies into other parts of the business.

If we take out the corporates (who occupy c.50% of high street bricks and mortar) the average independent agent is an owner/manager who often takes responsibility for new business, marketing, valuations, viewings etc. leaving very little time to take a step back and take stock.

Inevitably cost is a barrier to innovation; but more often than not there needs to be an adjustment of mindset. On the one hand, giving the responsibility of chasing ID from clients to a valuer makes sense. They are an existing overhead so no additional cost is incurred. However, if the time spent chasing that ID could instead yield another valuation or listing per week/month, the cost of outsourcing becomes almost irrelevant.

As with any business, there must be a desire to enact innovation; to drive the business forward. The responsibility to develop this culture lies with the business owner(s). We can all be guilty of not finding the time… as I said before, agents don’t need to know about every available innovation, they simply need to look at what they could do to improve their business.

 

Thank you to David Opie for taking the time to answer our questions.
David Opie is Marketing Manager of Estate Agency Services, a recently launched division of Landmark incorporating established market services including floor plans from Metropix, AML compliance, mapping, property data and property portal Mouseprice.

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 – 24/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Smart Spaces delivers the world’s first implementation of HID’s mobile credentials in Google Wallet at Workspace Mobile access control integration makes entry to The Light Bulb building effortless for customers London, April 23, 2024 – Smart Spaces announces today that it has partnered with trusted identity provider,…
Read More
Love or Hate Rightmove
Breaking News

An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker

Headlines The average 5-year fixed mortgage rate is now 4.89%, up from 4.45% a year ago The average 2-year fixed mortgage rate is now 5.29%, up from 4.75% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.82%, up from 4.42% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.36%, up from 4.15% a year ago The average monthly mortgage payment on…
Read More
Property for sale
Estate Agent Talk

Understanding Property Valuation: A Simple Guide

Ever asked your self, “How a amazing deal is my house simply simply well worth?” Whether you’re thinking of promoting, thinking of searching for, or just simple curious, identifying a property’s rate can experience like navigating a maze without a map. Yet, do not agonize. This sincere guide will stroll you via the necessities of…
Read More
Love or Hate Rightmove
Breaking News

Aberdeen is cheapest city to be a first-time buyer

New analysis reveals that Aberdeen is the cheapest city to be a first-time buyer with an average asking price of £102,602: The average monthly mortgage payment for a first-time buyer in Aberdeen is £406 per month, assuming the buyer has a 20% deposit, and a mortgage term of 35 years Data from UK Finance shows…
Read More
Breaking News

Breaking Property News – 23/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Agents urged to review AML policies following recent HMRC fines Recent substantial fines issued by HMRC are a harsh reminder to agents to ensure that their Anti-Money Laundering (AML) policies are up to date, and they have control testing in place. This is according…
Read More
Breaking News

Spring activity boost pushes asking prices close to new record

The average asking price of property coming to the market rises by 1.1% (+£4,207) this month to £372,324, just £570 short of the record in May 2023, while the annual rate of price growth is now +1.7%, the highest level for 12 months: A key factor behind this growth towards a near-record average price is…
Read More