Time to hit the Estate Agent Reset Button?

Time to hit the estate agent reset button

When I began in agency in the mid 1980’s life was simpler, on my desk was a traditional telephone, a small red plastic box with cardboard dividers and applicant cards all in price order, an A4 size day personal diary, a biro and some business cards.

These were my tools of influence, that and my brain, my smile, and the ability to pick the telephone more quickly than other sales people, or stand up more quickly when a buyer walked through the door so I could engage with them first.

Rightmove did not exist for another fifteen years, and mobiles were the size and weight of a house-brick and mostly hardwired into cars of the rich and famous. Over the years technology slowly crept into my real estate world, hardware and software arrived, as they did in all other industries. But strangely it has taken a pandemic to make the property world realise that it is time to hit the reset button.

 

And Lockdown 3.0 Lite, the present place estate agency now finds itself in, is I would suggest a great time to re-imagine the most efficient, most profitable and most customer focused way of delivering EAaaS – Estate Agency as a Service.

All agents now will be locking their doors, some will let the public in by strict invitation, others will aim for a harder lockdown stance, either way my advice is that the best strategy for real estate owner’s is to imagine what tools and processes should be in their business.

For example, as a hungry Negotiator many years ago my primary role was to list and do market appraisals and win stock to sell. Having convinced the vendor to use me, I then spent the next hour measuring up, taking details, and taking photographs.

Many agents today still do this – stop hit the reset button. Is it the role of the agent in 2021 to do all of the ‘take on’ surely the process can be outsourced, enabling that person more time to do other functions in the business.

Accompanied viewings, is this the role of the agent, for sales and lettings? Or is virtual or augmented reality the better, more efficient path to sales glory and profit. With many childhood gamers now 30 or 40 something property clients, AR is something they grew up with, not a novelty technology.

The pandemic is a real ‘pain’ cloying up commerce and business – by why not use it to your advantage – start to plan how to make your life and your team’s life easier and more efficient. Hit that reset button, is WFH a model for your agency? do you need a large goldfish bowl office on the high street?

I would argue you need brand presence, but will Covid-19 stop tenants and landlords, buyer’s, and vendors from thinking they ever have to come to a physical office. Reset your mind. What do the click, click millennial class want – fast service. And if you give to them and you wear pyjamas and use roller skates, they will not mind. What they do mind is indifferent or low levels of service, that certainly gets their attention.

How do they go about ‘buying stuff or services’ theses digital locusts use their smart phone, so get smart and build your proposition around a clickety, click service route, instead of having team members spending hours measuring up brick-built oblongs and taking photographs, leave that to the professionals. And all of those groundhog processes that AI and software can do 24/7.

Often people ask me if I were 23 again and starting out in agency where would I start? and what would my first office look like? and what tools would I use?

I always answer the same way, get a team of dysfunctional hardworking people, mould them into a team with esprit de corps, and give them the best tools and systems that you can, remove obstacles for the consumer and count the profits as they come in.

If you run your agency like it is 1986, be prepared to earn what agents earnt in the same year. Alternatively, use the valuable time you have now – forced upon you – and hit the reset button and try and imagine what the consumer in three years’ time will be doing, and build your offering around that.

If you have a view – please let us all know by emailing me at [email protected] – Andrew Stanton Executive Editor – moving property and proptech forward.

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate. Want to contact me directly regarding one of my articles or maybe you'd like a chat about future articles? Email me via [email protected]

You May Also Enjoy

Estate Agent Talk

How to Buy a Property in Today’s Competitive Market

Introduction It is common knowledge that the current real estate market is thriving, particularly in Florida. It is always highly in demand, and prices are rising due to the influx of people by the hundreds of thousands and even the millions. You are now perplexed about how you will ever be able to buy a…
Read More
US Flag
Breaking News

Is the state of Georgia a good place to retire?

Introduction Florida and Georgia have been friendly rivals for a long time, probably most famously on the football field where the universities of the two states compete against one another yearly. But Florida and Georgia are also engaged in a fresh competition over which state offers a superior environment for retirees. You are lucky since…
Read More
Overseas Property

Moving to Vancouver: Is living in Vancouver pricey?

Introduction One of the cities in Canada and all of North America with the highest population density in Vancouver. It is the most culturally and linguistically diverse city in Canada and the third-largest metropolitan area in the country. Since 2014, the city has been the permanent location for TED conferences and has hosted several international…
Read More
how to present your property for sale
Overseas Property

The Top 5 Real Estate Agents in Mississauga

Looking for a real estate agent in Mississauga? Look no further! We have compiled a list of the top 5 agents in the city, based on their experience and success rate. Whether you are looking to buy or sell property, these agents will be able to help you achieve your goals. Contact one of them…
Read More
Finance

Real Estate Copywriting Guide: 5 Tips For More Sales

Content related to real estate takes an important place in the thematic sections of copywriting. People always buy, sell or rent housing, which means this topic never loses relevance. However, real estate content cannot be called simple, but if you want big sales, you need to improve in this area, and you can learn how…
Read More
Breaking News

BREAKING PROPERTY NEWS – 05/08/2022

Daily bite-sized proptech and property news in partnership with Proptech-X.   Half of tenants who fear never owning own home face uphill battle in pet-averse rented sector New research from animal welfare charity Battersea reveals that one in two tenants fear they will never buy a home, with the growing number of lifetime renters significantly…
Read More