The Mistake Being Made by Estate Agents

The Mistake Being Made by Estate Agents

Proptech expert Nathan Emerson pointed out the mistake being made by many estate agents, and we think he’s right!

In the most recent issue of ‘The Negotiator’, Nathan Emerson wrote an article encouraging UK estate agents to embrace technology created to handle business during the pandemic. As the country opens up, every industry is facing the difficult balancing act of returning to old ways and continuing with pandemic practices, this is no different for real estate.

Nathan writes;

“Looking back over the notes and recordings i had of webinars and mentoring sessions at the beginning of the pandemic, the one thing that was apparent to me was the abject shock that was registered on everyone’s faces as them contemplated how they were going to carry on and afraid the property market would shut down.

Luckily for us, along came a hero…of proptech and video.”

There have been major developments to adapt with customers now able to view most properties from the comfort of their own home, with 3D tours, as well as other moving parts becoming automated for the first time. Nathan quoted, ‘Our industry has literally advanced five years in the last 12 months.’

He continued;

“Agents who were on top of their inspections for the first time ever, by using remote tech, with landlords full updated, had already gone back to face-to-face inspections and within weeks were falling behind and seeing the phone not answered as more staff were out of the office.

Others who had been insisting on video viewings and 3D tours before arranging physical viewings, were heading back to 100% physical viewings with disorganised chaos… Staff were becoming over stretched as diaries filled up with phones not being answered as a result.”

Read Nathan’s Full Article HERE

Old habits die hard…

The point he is making is how easy it is for people to revert to old habits, despite newer techniques being more efficient. They appear to be throwing away this efficiency, instead wasting their own time, the customer’s time and overall, providing a poorer service.

It may be possible agents found the new tools too efficient. These technologies often take the human sales element out of a first viewing, for example, by letting a computer do the job of an agent.

A UK study by the Open University showed that, by 2024, up to 37% of jobs will become redundant due to new digital technologies. It is therefore no surprise not every employee is embracing these advancements with open arms.

However, in business there is often no such thing as ‘too efficient’ and this tech is here to stay. We would echo Nathan Emerson’s sentiment that failing to adapt will only leave space for a competitor to do so, likely at your expense. This doesn’t only apply to real estate but many industries that have been forced to adapt.

New habits take time to become familiar and natural but it’s vital that businesses understand what is working, and allow themselves the flexibility to adapt to the uncertain world around us.

Not every piece of the latest technology WILL work for you, but we believe you should keep embracing tech that saves time and brings with it automation that allows agents to focus on speaking to clients, making sales and adding their own value.

The Mistake Being Made by Estate Agents

Our solution…

One tool estate agents can use to do this is TalkingForms. Our software helps you manage time better and get to important calls straight away. The ideal time to speak to a customer is just when they have made an enquiry, when they are at the peak of interest and ready to spend.

TalkingForms connects the prospect to your sales agent in under 30 seconds, providing them with all the relevant information to clinch the deal or answer a customer query. Given the importance of response time, our unique product can help set you apart from competitors. A recent Forbes study showed 71% of internet leads are wasted because the business did not respond fast enough. As Nathan said, phones are currently being left ringing in real estate office’s across the UK and business is being lost. Don’t let that be your business!

If you have multiple physical sites, TalkingForms also allows you to compare the performance of multiple agents and branches meaning you can really start to drive up productivity. You can’t improve what you can’t measure.

Try it HERE right now, for free!

You can demo the super-fast TalkingForms service yourself or to others in your team HERE.

Browse our website to find out more about TalkingForms and the many ways it can help your business!

The Mistake Being Made by Estate Agents