An increasing number of estate agents are spending significantly more money on maintaining an online presence that goes beyond simply listing properties on the main property portals.
With the world of property marketing changing fast and the digital marketing landscape evolving, agents have had little alternative but to alter the way they market their homes and that has meant a need to transfer their marketing spend from the portals to their own websites, according to one of the UK’s largest providers of agency website and lead generation technology.
Starberry has reported a 495% year-on-year increase in digital spend from their estate agent clients during the first quarter of 2021.
Ben Sellers, CEO of Starberry, says that the increased digital spend is a reflection of a trend currently seen in the market of agents starting to transfer their spend from portals and their high street offices to growing their digital footprint.
He commented: “The Covid-19 pandemic has forced the property industry to evolve and relook how and where they spend their marketing budget. In today’s environment, a business’s digital footprint has become increasingly more important, and we have seen the shift in estate agents putting more focus into growing their own online presence so that they are not as reliant on the portals for digital leads.
“As the new shop window, agents are spending more on their own websites, ensuring that they are optimising their lead capturing, lead generation and lead nurturing tools. We are also seeing agents increase their spend on their communication channels and digital marketing campaigns.”
He adds that while the majority of agents had some digital presence in the past, it was definitely not the prime focus it is today.
Sellers continued: “We have been in the digital sector for several decades and have always had to convince agents about the digital transformation we believed was coming, however, now we are inundated with agents who are realising the potential of their own websites and how leads generated from their own digital channels are actually better quality and cost less than portals.
“Because agents were not focused on their own digital presence, they were heavily reliant on portals to generate leads. However, agents can achieve phenomenal results that rival those of the portals from their own websites via digital marketing and connecting their social media channels, email, chat and portal leads together in conjunction with their CRMs, to achieve a serious marketing ROI and true lead attribution.”
Sellers says that agents need to continue to innovate and develop alternative ways of generating business and leads within the ‘new normal’ of a digitally driven world.
“Having a digital footprint is no longer an accessory, but rather a necessity,” Sellers added.
‘We have been in the digital sector for several decades’ – that would suppose to me at least 50/60 years – I’m I missing something here, or is ‘several’ now 1 or 2?
This type of article can, in my view, give a misleading guide to what is important for agents, but if you go along with this all the better for me and the other agents still believing it is a people orientated business.
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Any opportunity to remind agents that the portals should not be the basket we place all our eggs should be applauded. However, in this instance surely Starberry may not be a true representation of general sentiment. As they will surely no doubt see growth given that their owners will be pushing this outlet, along with their other recent acquisition, Property Jungle, to all of their Guild Members and Fine & Country franchises?
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This is happening for one reason only; portals as a concept was genius and innovative in 1995 ( tips hat to people like Nick and James Leeming and the folks at Homes on line) They became an accepted part of the industry in 2000 and realistically had had their day by 2010. If it were not for the corporate shapeshifting that went on then portals would have been a phase we would all be reminiscing by now. They certainly wouldn’t have the hold they have.
Property search platforms are now starting to become understood. The mocking and derision has been replaced by respect and digital professionals writing article like this, reinforcing what I’ve been derided for advocating.
The really good news is that with people like Ben preaching the same sermon, acceptance of the change will accelerate. That will force less and less reliance on the portals, greater competition and a mounting pressure on portals subs and the number of portals subscribed to.
There is good reason why Rightmove are attempting long tie in periods with inflation busting hikes in subs, this is their last hoorah, their last chance to bully.
Great article Ben!
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