Selling Sunset: Marketing Your Estate Agents Like A Pro
Having spent the bulk of lockdown binge watching Selling Sunset, the series that showcases the most jaw-dropping properties throughout Los Angeles and follows the lives of the agents that sell them, I can’t help but be completely in awe of not just the properties themselves, but also the way The Oppenheim Group market them. With $643M total sales since 2017 and homes listed up to $100M, it’s safe to say that their marketing budgets are worlds apart from most businesses. With that said, if you are an estate or letting agent in the UK, whilst you are already listing your properties for sale or rent via Rightmove & Zoopla, a big mistake is relying on these platforms alone, when there are so many other ways of marketing that will help you reach your target buyers.
So, taking inspiration from the show, here are a few nuggets of inspiration we can apply to marketing strategies for UK estate and letting agents.
Invest in your website
As The Oppenheim Group say, presentation is EVERYTHING and when it comes to choosing an estate agent to work with, without a referral it really does come down to whose website looks the most professional and which agent presents properties in the best way online. To put your best foot forward, ensure your photography is up to scratch, your branding is solid, and your services and pricing are clear.
Be savvy, not spammy
Many estate agents build up a database of potential buyers, but there is a huge difference between using your mailing list in a savvy way, as opposed to spamming your subscribers. When a new lead comes through, ensure you are capturing as much information as possible in a CRM system so that you are contacting them about the right properties. Too often property leads end up in a database and are emailed houses every day that are outside their budget or not in the area they are looking for. In the US, the buyers purchase experience is second to none, make your company stand out by ensuring your leads feel as though your email automations are completely bespoke to their needs, as opposed to them being one in thousands.
Consumers today want to work with companies who are a one-stop-shop. Where we used to have several different companies, who specialise in different things, we have ultimately grown lazy and want to work with as few vendors as possible. With that said, it’s crucial that your agency is agile and thinks outside the box when it comes to how your service offering can make you stand out. Could your company offer a removal service? Do you have a partnership with a solicitor? In Selling Sunsets, The Oppenheim Group offer a ‘Concierge’ service, where-by they recommend and even front the cost to revamp their client's property appearance – thus enhancing desirability and market value. By preparing the properties they list for an optimal launch on the market, they leverage a more swift and lucrative sale and the costs they front are simply taken off the total sale cost.
Do more with open houses
Ok, so I'm not about to suggest doing Botox & Burger parties like they do in LA (if you watched it, you’ll understand) however, if you are doing an open house viewing as opposed to individual ones, consider ways that will make them even more successful.
According to UK property analysts mouseprice.com, staged homes sell for up to 10-15% more than the competition and 18% of viewers decide whether they will make an offer from the moment they walk in the front door. With these statistics in mind, consider how you can enhance the viewing to be better placed for the sale, whether that’s lighting scented candles around the property, staging a vacant space or requesting that a home be decluttered by the homeowner.
When doing an open house, ensure you always have your estate agent's brochure or flyer laid out somewhere, business cards in-hand and think ahead with regards to information the viewers might want, such as floor plans, property brochures or planning permission documents.
Digital, digital, digital
Nowadays, it’s easy to set up adverts using algorithms that target people who have been searching for properties in your area. Buyers give away so much information online, you could be showing someone their dream property before they even knew what they wanted. There are so many different types of digital marketing to consider, from remarketing (that feeling that products or brands you like are stalking you online), to social media marketing, and it’s important you connect with your leads in the places they spend their time.
If you need any help with the marketing of your property business and would like us to develop your marketing strategy, ensure you stand out in the market and ultimately, fuel your commercial growth, please don’t hesitate to get in touch at firstname.lastname@example.org