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Changing times in estate agents

March 24, 2021

There’s no denying times are changing for estate agents.  One of the biggest changes seen in the property market over the last decade is technology growth.

With the likes of Rightmove and Zoopla, the role of the high street estate agency has changed and it’s not only how we work, but it’s where we work that is evolving. It’s clear that having a presence on the high street has served the industry well, but with footfall reducing dramatically, and the increasing demand for a 24/7 service, there has been a shift in the way estate agencies are operating. It’s no secret that the face of the traditional British High Street is changing, in fact, it has undergone arguably its most dramatic transformation in the last five years than it ever has before.

Added to this, the last 12 months have seen a huge shift in the way that we all live and work.  In 2020, 339 estate agency branches closed, representing around 2.6% of the total. But does this mean the death of the high street agent to make way for tech?  Not necessarily.

Technology though offers a more fruitful future for estate agents and indeed, the customer. The digital revolution, particularly in the lettings market, has made the entire property search process easier, more transparent, and much more efficient than ever before.

On the flip side, there is arguably no better advert for an estate agent than a branch on every high street however if people aren’t walking into those branches and they are costing more than they are bringing in, they simply do not make sense anymore. Instead, agents should look at new, modern, and often more effective ways of showcasing their brand – the use of social media influencers and online paid advertising campaigns can be just as powerful and reach a far greater audience than the local catchment.

Customer service is of course paramount and it’s understandable that some might be doubtful of an online estate agency’s ability to offer the same level and quality of service to its clients without having a physical interface. However, with the correct level of investment in the tech, agents will spend less time on paperwork and have more time to actively go out to meet clients.   

If you’re looking to invest in your digital presence, Area can help.  Area is a lead management automation system for estate agents.  You can automate applicant and vendor inquiries with our software and integrations, and with our detailed insights and reports, you can see exactly how your customers experience your brand and your team metrics.

If you want to find out more about Area, our software, and how we can help you and your team to increase sales, contact us for more information or to book a demo: https://www.usearea.com/contact-us.