Why are you so worried about Online Estate Agents?
Estate Agents, can I ask you a question …
… if a competitor estate or letting agent in your town, that had been going for a couple of years had say 3.5% of the market … would you be worried about them, would they keep you up at night, would you even consider changing your agency’s business model to try and combat them?
No, I don’t think you would .. you would keep an eye on them, just like you would with your other competitors ….. yet this is why I scratch my head, as I hear some fairly decent independent chains are considering offering ‘cheap few hundred pounds online package’ alongside their normal ‘high street package’ when they go out on the free val.
.. and this worries me ..
.. because by offering the very thing you are most afraid of, the online agent phenomenon will manifest itself and start to grow like a snowball – which means other agents will start their own online offering, which will mean even more people go to ‘online agents ’and eventually, online will become the norm.
(The 3.5% figure has been taken as an average market share of on the online boys (PB,Yops,Easy,Simps etc) when I have been market shares around the UK)