The UK has dozens of real estate agencies, which means that competition can be fierce. Now is the best time for brokers and agents to think outside the box, especially with marketing strategies.
Here are three ideas to begin with:
1. Use the Power of Drones
Real estate businesses can partner with a commercial drone service provider, who can leverage such technology to get sweeping views of the property. A single video or image will already have most of the details prospective homebuyers will need.
Drones can also be helpful to homebuyers who are assessing the vastness and quality of the neighbourhood. They can also use the details along with tools such as Google Maps. They will have a better idea of property boundaries and their distance from public amenities, such as transportation or grocery.
While anyone can fly drones, they are better left to experts, especially if the reason is commercial. The UK has strict laws about its use, including the ideal weight of the drone and the maximum elevation that it can fly.
2. Partner with Other Professionals
As an old proverb says, “Nobody stands alone.” One does not need to treat other professionals as a threat but, in fact, as a partner for marketing and growth. Real estate agencies, for example, can work with interior designers, landscapers, architects, and even construction contractors.
These partnerships, whether formal or informal, can benefit everyone in the following ways:
- They can share marketing or advertising expenses, which can account for a significant percentage of a business’s operational budget.
- They can tap on other markets. Take, for example, a joint venture between interior designers and real estate agencies. The latter can offer the services of the former to their clients once they close the deal.
- They each can provide a more comprehensive list of services. For homebuyers, looking for people to work with can be time-consuming and tedious. It may involve weeks trying to find a landscaper and another searching for a renovator. By having partnerships with these professionals, real estate agencies can provide add-on services.
- They can use each other’s strengths, including existing marketing strategies.
3. Conduct a Virtual Tour
Despite the high prices of homes in the UK, many foreigners are interested in buying one. In 2017, wealthy overseas investors bought over 250 homes that cost at least £10 million each.
Some of these foreigners, though, may not be able to fly to the UK to see the properties themselves. Others may rely on experts’ opinion, who will then join open houses or coordinate with property sellers.
Either way, both these groups can benefit from a virtual tour of the home. These days, agencies can already use many tools to create one.
These companies can also perform a virtual open house, where they provide a livestream link to potential homebuyers. The broker or agent then walks the attendees around the property in real-time. At the end of the video, the professional may then leave a form where attendees can leave questions or even request for more information.
Even the most established real estate agencies should consider keeping up with the times. From drones to virtual tours, they can maximise existing technologies to advertise without spending a lot of money. They can also work with other professionals to broaden their target market.