23rd March marked 12 months since the UK was plunged into its first national lockdown. What concurred over the following year has had, and continues to have, a huge impact upon the property industry, with the market facing challenges that were previously unimaginable. But not only has the industry survived the pandemic, but in some ways, it has also thrived, and the impact of the last year will shape the way in which estate agents work for years to come. In this post, we look at the flexibility of the future of Estate Agencies.
The COVID-19 pandemic has unfortunately led to many people losing their jobs. Despite Government support, it has been difficult for a number of businesses to protect their staff from the economic impact of the pandemic. It’s estimated that 28% of property industry staff were furloughed at the start of the pandemic, with a number of firms going on to announce redundancies in the second half of last year.
However, if 2020 (and now 2021) has taught us anything, it is that flexibility presents a huge opportunity for the property industry. For those agents that have unfortunately lost jobs due to the pandemic, there is a huge opportunity to set up their own agency - either operating from the comfort of their own home or setting up a traditional high street branch or a hybrid of the two.
The market and buyer behaviour has changed - and therefore the way we as agents work needs to change to reflect this. Customers want more choice and more freedom. They want a straightforward experience - people have enough stress in their daily lives and they don’t want to add to this, which is why a lot more people are turning online when it comes to buying or renting properties. While property searches have been popular online for over a decade, more people are choosing to view properties virtually.
With more customers turning to online, its vital agents ramp up their efforts when it comes to the customer experience. Customers no longer just want an agent that is knowledgeable about the property, but also agents that have a good knowledge of the area in which the properties they represent are located.
How can Area help agents to adopt a more flexible approach?
Area has been developed to automate applicant and vendor enquiries, freeing up agents time from manual tasks. With features such as auto-property matching, which allows you to convert a single lead into multiple ones, and lead prioritisation, you can build an agency that adapts to the needs of your customers while maintaining a high degree of flexibility.
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.