It’s understandable that property marketing specialists and estate agents are a bit worried at the rise of proptech companies such as Zoopla, Rightmove and Gumtree when it comes to marketing for High Net Worth individuals.
Estate agents also have to contend with the blow that, according to an Ipsos MORI poll, the public consider traditional estate agents as the second least trusted profession in the United Kingdom, just behind politicians. Only 25% trust the profession, according to the survey.
Why, though? it may surprise you to learn that the end goal isn’t, essentially, to sell a home; rather, to take advantage of the lucrative listing fees on offer which can, at most times, be a better financial proposition than actually selling the house.
This is a tactic traditional estate agents are guilty of when property marketing. Estate agents are also more likely to get a higher commission than when they actually sell a property, with free valuations part of the overall property marketing strategy to help them get their foot in the door and secure a listing.
A biddable property marketing strategy that attracts new listings
These fees can be crippling for listees, especially if they don’t manage to sell their home. The BBC recently spoke to a lady called Joanne Buckley-Scott. She put her flat on sale on PurpleBricks, didn’t get a viewing in ten months and now owes fees to a third-party company.
Other ticks of the trade when property marketing include inaccurate valuations, deploying professional viewers and more. It can be little wonder with so many agents on a low basic entry-level wage; the call of high listing commissions can make the traditional route a bit dog-eat-dog, with competition to get new listings fierce.
There’s little doubting the impact of the online proptech market, though, and with search engines, YouTube, mobile devices and more the first port of call people look at when buying a new property according to Google, it’s more important than ever to put your property marketing budget into biddable media to attract more listees to your site online.
An honest approach to attracting more listees when property marketing.
It's essential to stress that not every estate agent is out to trick listees for a bigger payday. We’re highlighting public perception of the industry and how the market is flooded with so many unsavoury property brands that it can have a knock-on effect on wider perceptions.
There are so, so many good, honest professionals looking to do the very best for their clients and save them money wherever possible, all whilst giving them the best service possible.
You may be one of them, trying to market your property company online against rising cowboy competition in a crowded environment to both galvanise the authority of your brand, attract new listings and realise their dreams of selling their home; all while navigating the choppy waters proptech companies like Rightmove have created.
By putting your property marketing budget into an inbound biddable media campaign, you can target fresh leads for both your business and your listees as you compete head-on with the biggest property sites in the UK.
Proptech isn’t the be-all and end-all in the industry, and the right strategy can go further than simply helping estate agents hold their own against firms like Rightmove and Zoopla.
Not only can inbound marketing help you to attract fresh leads, but by putting your marketing budget into biddable media you can better promote the existing properties on your books by targeting people with the exact criteria perfect for potentially purchasing those homes.
If you want to achieve any marketing aim, then biddable media is a great way to boost activity. However, biddable is difficult to get right. If you want to get some solid advice on perfecting your campaign, read our blog 'What is biddable media, and how can it catapult your growth?'