Staying Competitive in a Saturated Market

The last few years have been great for real estate agencies, but increased profit acts as a double-edged sword. With more to gain, the market is growing increasingly saturated with new agencies, making the prospect of staying competitive an increasingly difficult task.

While there are many ways to stay ahead, our goals are to ensure maximum viability without having to compromise by reducing prices. Fortunately, there are ways that estate agencies can keep competing without having to put themselves in harm’s way.

Improving Your Online Presence

In the age of the internet, having a high level of online visibility is a must. This means going above and beyond mere listings websites, and maintaining an active site or set of pages that keep users updated. As a starting point, this should include a website that is updated constantly, quickly, and accurately. To go a step beyond, websites should also strive to include modifications for their site to include holidays or changing seasons. You’ve probably noticed Google Doodles as a fantastic example of this, where a little work goes a long way.

The other side of this coin is found in social media accessibility. As demonstrated by Rightmove, Zoopla, and Boomin, social media pages can act as a popular point of access for potential customers, and for good reason.

According to 2022 stats, there are currently more than 4.5 billion active social media users, with Facebook alone boasting nearly 3 billion. Adopting the big social media pages and keeping them updated can be just as important as with your website, forming two parts of a whole.

Offering Freebies and Support

While giving out free property and 24/7 support probably isn’t viable, there are smaller efforts you can make within your industry’s purview to keep customers engaged. The best path here comes from understanding both the message you want to send and working within your bounds.

For an illustration of bonuses, consider how online slot sites like Casino Lab and LeoVegas operate. Having run a cost/benefit analysis on their services, these websites offer free spins and deposit matches to maximise their user appeal. These bonuses tie into their hundreds of games and help spread word of mouth. Though not directly applicable to real estate, this same idea of free giveaways will still be widely appreciated. This could start as simple as pens and clothing, free consultations and competitions, and more.

In terms of support, a suggestion we commonly see undervalued is the implementation of guiding online support systems. Knowledge-based systems like Wix Answers and Notion that guide users to their own solutions are popular picks here. Aside from being helpful, these can also free up time for staff, so ongoing costs can be minimised.

Focussing on an Interpersonal Approach

The most important part of any business is the customers, and while it can be efficient to quickly move from one to the next, taking the time to build a relationship is going to be a better approach in the long term. Again, many different avenues can be taken here depending on your strengths, but they generally revolve around treating customers as people first, and wallets second.

This can mean customising the way you manage a customer depending on their needs. Some might be clueless about basic aspects, where you should share your knowledge without rushing them along. Other basic signs of respect like sticking to appointments and always being on time will also help show them your genuine concern for their best outcomes.

Each of these approaches can take some time to learn and implement, but each is also likely to have significant payouts in the long term. Even one sale made through these improvements will be enough to justify costs, and over time, even the most complicated processes will become simple second nature. For new agencies or those just starting, taking your business a step further can give you the edge you need.

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

Breaking News

Six UK vineyards where homebuyers avoid the 84% premium

Six affordable UK vineyards where homebuyers avoid the 84% house price premium and toast a better deal The latest research from Yopa has revealed that living close to one of the UK’s top vineyards will set homebuyers back an average of £494,739, 84% more than the current UK average house price. However, there remain a…
Read More
Breaking News

Red tape slashed to revamp high streets with new cafes and bars

Communities and town centres across the UK are set to benefit from a wave of new cafes, bars, music venues and outdoor dining options, as the Government slashes red tape to breathe new life into the high street. Government to overhaul planning and licensing rules to make it quicker and easier for new cafes, bars…
Read More
Breaking News

London’s prime parks command 86% property premium

The latest research from Jefferies London has found that buyers hoping to live within arm’s reach of one of the capital’s royal parks will need to stump up a serious property price premium, with the average price of property around these green spaces coming in 86% higher than the average London house price. Jefferies London…
Read More
Planning disputes on new build land
Breaking News

Padel Boom Sparks 113% Surge in Planning Applications

17,000 UK Sites Ripe for Development New insight from Searchland reveals that planning applications for padel courts surged by more than 113% in 2024, with the upward trend expected to continue throughout 2025. The explosive growth of the sport in the UK has unlocked a wealth of potential for developers and investors, with Searchland estimating…
Read More
Breaking News

Property values rise at 5.3 times the rate of earnings

House prices across Britain rise at 5.3 times the rate of earnings in the last year The latest research from eXp UK has found that the average house price in Great Britain has increased at 5.3 times the rate of average earnings over the past year, highlighting a widening affordability gap for homebuyers. eXp UK…
Read More
Estate Agent Talk

London homes with a patio prove hot property,

The latest research from Benham and Reeves has found that London homes offering a patio have become highly sought after, with 41% of all patio-equipped properties currently listed already snapped up by eager homebuyers. However, potential buyers dreaming of a summer-ready outdoor space might face challenges, as only 8% of properties currently on the market…
Read More