Take advantage of a better market

Reading the news on Estate & Letting Agent Today every day (as I’m sure you all do, too), there appears to be some quiet optimism that this year is going to be a reasonable one for the property sector and certainly better than 2023. Inflation appears to be under control, finally! And there’s even talk of reducing interest rates by the end of 2024, unthinkable just a few months ago. As recently as last week The Property Market Stats Show reported net sales were 31.4% higher than the 2023 weekly average and fall throughs are at a record low of 1 in 5.

So, what can agents do to ensure they capitalise on any upturn in the market? Firstly, making sure you have a strong online presence is crucial. Ensure your website is engaging and optimised for mobile. Keep your social media profiles active and relevant and plan effective online marketing strategies. Streaming up-to-date reviews on your website is also crucial, as potential vendors do more and more research online before they engage with an agent. Google estimates that customers make 70% of their buying decisions before they make direct contact with your business.

With increased access to information online, consumers' expectations from estate agencies have evolved. Buyers and sellers expect more personalised and tailored services, transparency and a seamless customer experience in their property transactions. Therefore, agencies that invest in technology and customer-centric practices will gain a competitive edge by meeting these evolving demands.

Of course beyond the online and tech world the most important factor of all to help make your business successful in 2024 is ensuring your team delivers good old fashioned customer service – something we’ve been banging on about at The ESTAS for a few years now (21 to be precise).

Proud to be part of the team

Beyond the obvious benefits to customers, delivering excellent service has a huge knock-on effect to other aspects of your business. It acts as an effective marketing campaign improving the public perception of your agency and builds trust in your brand establishing your firm in the minds of anyone searching for other products & services or information related to property.

It helps you to retain staff in your business for longer. Staff pay careful attention to how their own firm treats its customers. When they see their employer treating customers the way they would expect to be treated themselves, it motivates them, makes them proud to be part of the team and more likely to work for you harder and longer.

Lastly delivering great customer service also stops those classic ‘But’ reviews. You know the ones; the review starts off well enough then halfway through there is a ‘but’ which effectively turns what started as a positive review into a negative one.

So, this year is all about standing out from the crowd in your local market and at ESTAS we’re doing everything we can to help our clients do exactly that. In April, in a special online awards broadcast, Phil Spencer will be announcing our 2024 Best in Postcode Category Winners ahead of the main ESTAS Awards in October. Providing every winning agent the perfect platform to promote their award-winning service throughout the spring and summer. Each winner will receive a free medal license and free marketing pack to promote their win across all their online, printed and social media marketing activities with no date restrictions.

This year, more than ever, highlighting the exceptional service levels your agency delivers will be crucial to ensure you stand out in your local market.