There are many factors that can differentiate one estate agent supplier from the next, so to find clients within estate agencies, it’s best to communicate the benefits of your service/product to the right audience.
What is your area of expertise?
It is rare for estate agents to provide a full range of supporting services and products, especially for smaller, independent agencies.
Your goal in reaching out to potential customers is to make sure you only reach out to those prospective buyers who are most likely to benefit from your services.
To find your niche and get estate agents’ attention, you need to figure out where your services fit into specific fields. That way you can compile or purchase a list of estate agents that focuses on the types of agencies that either already uses a service like yours – or could benefit from it.
Listed below are a few typical real estate suppliers:
- Building and renovation project managers
- Architects, who design structures and layouts
- Real estate interior designers
- Facility managers, who are responsible for keeping buildings running smoothly on a daily basis
- Property managers, who monitor properties and space within shared buildings, and market their availability
- Removal companies and storage facilities
- Maintenance companies and workers, such as plumbers and electricians
Get to know your competitors
The next step is to research your competitors. Knowing what works and doesn’t work in your market will help you make better decisions.
Look at how local businesses within your niche market their services. You are not trying to replicate their successes but rather pinpoint their limitations. Knowing your competitors is essential to outperforming them.
- In what ways does your competition excel?
- What is the quality of the content on their website or blog?
- How do they structure their email campaigns?
- Are they targeting any particular demographics?
Using these questions, you can assess your competition and identify any potential gaps in the market.
Become a thought leader
In any digital marketing strategy, content is incredibly effective. Adding a blog to your website can increase its search engine ranking by 434%.
Your blog posts and other online content (short videos, social media posts, podcasts) also provide you with the chance to position yourself as a thought leader – someone an estate agency can turn to with questions, or for education on your area of expertise.
Understand the challenges that estate agents face
Although Land Registry data shows house prices remain 12.6% higher than last year, the market as a whole continues to cool.
For estate agents, this environment means that they are working harder than ever to ensure their place within the market, and need to look at solutions that help them to outshine their direct competition.
Suppliers to estate agencies must lead with an understanding of these issues, and provide solutions, in order to capture the attention of prospects.
Inventories are declining
Rightmove data analysis from November 2022 showed that the volume of new listings entering the market had almost halved (-46%) from November of the previous year.
You cannot operate a business if you don’t have a strong inventory base, and even experienced estate agents are having difficulty finding listings in a market with low inventories.
The task of finding sellers is especially challenging for new estate agents, whose lack of experience already makes them less attractive to property owners.
A decline in mortgage approvals
In the same report from Rightmove, the number of mortgage approvals between October and November 2022 fell to 46,075, down from 68,969 in November 2021.
There are several things for estate agents to consider as a result of this. As the number of new instructions declines, competition for new business will be intense. However, with the housing market in a state of flux between post-pandemic inflation and a cost of a living slump, what they do to entice buyers when valuing their homes is vital.
Building a marketing campaign for property agencies
When it comes to creating marketing campaigns that work, businesses must always focus on what they can offer to a potential buyer, rather than the other way around.
In a difficult climate for estate agents, this means demonstrating your value and proposing solutions that will help them to thrive where other agencies are struggling.
Suppose an estate agent faces competition from businesses with lower fees. You may be able to offer them a way to improve their value to buyers so that they can create an appealing offer without having to cut their own fees.
So, how can marketers find their target audience for this campaign?
With More Than Words Marketing, businesses can access national and high street estate agent contact information and generate leads in the following areas:
- property management services,
- mortgage brokers, client money protection, debt collection, and solicitor services
- furniture wholesalers,
- Energy Performance Certificate suppliers,
- marketing services, and
- software suppliers.
Get in touch to find out how we can help you with your next campaign. We’re available on 0330 010 8300