Skip to main content

The Fall and Rise of Online Estate / Letting Agents

Ok, 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 2.5% 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 2.5% figure has be taken as an average market share when looking at various estate agent’s forum’s)

Popular posts from this blog

One tip to get better Conversion Rates

Some Estate agents boast about having really high conversion rates of 75% to 85%. These listers consider themselves the daddy listers, the big cheese valuers, the mutts-nutts of Valuers. Other Estate Agents have really low conversion rates of 20% to 25% of the free vals / mkt appraisals they go to. These listers/valuers wish their conversion rates were higher Recognise anyone that fall into those two groups? Which group of those would you rather

Are Countrywide becoming the Tesco's of UK Estate Agency?

10 years ago – Tesco’s could do no wrong, the darling of the stock market, huge profits, they were invincible ..  but now, still huge – Tesco’s are not the force they once were. Tesco’s Senior executives were pushed out of the business which also suffered a culture change which was "not for the better". .. and that made me think, the of the possible similarities between what happened at Tesco’s and what appears to be happening now at Countrywide
For years, anyone who had dealings with Countrywide would come away with respect for the apparent clinical efficiency of its business model. One company, many brands. The senior management team had so much depth of experience .. both a mile wide and a mile deep. Countrywide played hard but

Cheap Fees in Estate Agency

My good lady wife loves shopping online. In fact, Amazon, they rang her last week to check she was Ok as she hadn’t ordered anything for three days (only kidding .. they rang after two days)
She ordered some Gin glasses (not from Amazon) from the internet – you know the ones that look like a goldfish bowl on a stick. The glass seller put the box of six glasses (the box being quite flimsy in the first place) in another brown cardboard box. This brown cardboard box was a couple of inches bigger around the sides of glass box, but the same height as the