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By David Mclean, on 22 Jan 2021

5 Trends That Will Change Estate Agency in 2021

Trend #1 – Consumers require 6 touchpoints before they buy

15 years ago the average consumer typically required only two touch-points before they were ready to purchase an item or service.

Today, that figure stands at around 6 touchpoints.

This means that your prospects and customers are used to interacting with companies they want to do business with again and again before considering purchasing anything from them. This is what they expect. It has essentially become the norm.

So think about how this affects you as a property agent. Whether consciously or not, your prospects like to see your presence across many different channels. They’ll be ready to engage with you across many of these channels and platforms.

This is what they now do day in, day out for almost all other companies and brands that they deal with. So use this trend to your advantage. Get in front of your prospects on many different channels. Then figure out what content and information they want at each stage.

Trend #2 – Consumers like to always deal with the same person

An ever-growing number of consumers now expect to deal with the same person when they are considering whether to purchase a product or service from a company.

This is now becoming the norm in terms of customer service. More and more consumers are coming to expect this from any business that they deal with.

This is another huge trend that you need to be aware of. Then you can use it to your advantage.

Think about how you can put in place processes that enable the same person in your agency to engage with the customer – no matter what the channel. This experience is one that more and more consumers now crave, so be sure to give your potential customers what they want.

Trend #3 – Consumers hate having to repeat themselves

This one is similar to the last point, but with a bit of a twist. This point is related to how well you keep track of your engagements with your customers. It’s about how organised and effective you are in tracking all your touch-points with your customers. And how well do you collate all this key information together in a manageable form?

Research has shown that 89% of customers get frustrated having to repeat their issues to multiple representatives of a company.

The relevancy here is that in this day and age, consumers hate having to repeat themselves to companies. If they have already provided information to you once, they do not want to have to provide any of this information again.

So it’s not enough to ensure that your prospects always deal with the same person. You need to also ensure that that person has all the key information to hand. That way, you can give your customers what they now crave and expect each and every time that you deal with them.

And that can only be a good thing. It’s probably going to lead to greater customer satisfaction, and more won business for your agency.

Trend #4 – Consumers are impatient (very impatient)

Consumers now expect to receive a very speedy response from any company that they deal with. They increasingly expect almost instant engagement from you, no matter what the sales or marketing channel.

So ask yourself how long, on average, it takes you to get back to potential customers? When somebody enquiries about a property, do you contact them within minutes? Or does it often, or always take you longer?

In this day and age, even if consumers have to wait one or two hours for a response, this could harm your chances of winning the sale. So consider what you can do to speed up your response times and give your prospects what they want in this area. Again they are increasingly coming to expect this as standard. Fail to deliver, and it could hurt your business more and more.

Trend #5 – Consumers expect a consistent experience both online and offline

Consumers have come to expect consistent messaging and experience no matter what the sales or marketing channel. And this refer to offline experiences as well as online ones.

What’s the relevancy here to you as a property agent? Well, it’s to do with when someone comes into your branch, or meets you for a property viewing.

They expect consistent messaging and engagement experiences when they are interacting with you in person. So if you don’t know exactly what’s going on with your online channels, then you’ll be unlikely to give your potential customers what they want in this area.

Make sure that as an agent, you know exactly what customers are being told on all your online channels. And if a customer has already engaged with your company multiple times online, make sure you know what they have asked, and what they have been told in response.

This is another trend that you should be aware of, because it’s changing the way in which all companies have to deal with consumers in this modern day and age. And of course it’s going to affect the property industry, as more and more consumers demand this as standard from all the companies and brands that they deal with.

Make sure that you are following these trends and giving your prospects and potential customers exactly what they want. You’ll be rewarded with more business and more happy customers.

So how do you respond to these trends?

These trends are making a huge difference to the way in which all companies have to do business. And as a property agent, you are no exception.

You’ll need to change the way in which you are working in order to keep up with these trends. If you don’t, you risk losing more and more business to competitors who are responding better to the changing industry landscape.

So do you have a decent plan of action to how you are responding to these changes?

If you would like help with this, then why not book a demo with one of your trained advisors to see how we can help. We can give you personal and tailored advice and recommendations to help you succeed in 2021 and beyond – no matter what changes.

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