Will Online agents gain significant market share in the future?

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  • #17750

    smile please
    Member

    Agree with PeeBee – The current bodies do little apart from self promotion, happy to take the money and do very little.

    Ask yourself what NAEA and alike actually do? They do not police the industry, they do not promote the industry, All they are interested in is raise revenue by membership and then selling their own brand of qualifications. The public are not aware of them or their qualifications.

    We need an articulate spokesperson who is able to forge relationships with the media and press the same as a number of online agents have done. This may not even have to be a new association just a person that is promoting the virtues of the traditional high street agent and what they have to offer as the public, media and press seem to have forgotten this.

    FYI i am against 1,2 and 3. Any individual trying to deceive the public in what they offer compared to a traditional agents i am against.

    #18072

    Vanessa Warwick
    Member

    My belief is that the complete “on-line” agent model is unproven and I am perplexed at the level of crowdfunding they have achieved, despite this.

    Let us understand that people investing in these opportunities are not a barometer of what will be successful in the future!!   Indeed, the platforms themselves are not either – they are just there to connect people wanting investment with people who want to invest.

    The High Street agent is vital to buyers, sellers, landlords and tenants and I believe that they will continue to be so.

    They just have to go on-line themselves and ensure that they educate consumers about the benefits of working with them, and also demonstrate their local domain expertise etc.  This can all be done on-line via the social web at minimal cost. The social web democratises communications and therefore everyone has an equal voice and reach and competes on a level playing field.  Make the social web the “voice” of your industry.

    The “hybrid” agent may achieve some success based on price point, but it will be like shopping at Lidl instead of going to Waitrose.  Like anything in life, you get what you pay for. 🙂  Consumers will find this out themselves and it will determine future decisions, as reviews of new entrants start to populate the web.

    Choice for consumers is a good thing.  Ultimately, whoever best serves their needs in the format they want, not the format you think they want, will be the success stories of the future.

    Therefore, the agent who listens, learns, and adapts will prosper regardless of their business model.

    We will probably not know the true answer for another five years or so as crowd-funding is an unknown influencer and may end up creating businesses like Ocado – never made a penny in profit!  New business models may not be sustainable but it may take years for it all to come out in the wash.

    • This reply was modified 2 years, 9 months ago by  Vanessa Warwick.
    • This reply was modified 2 years, 9 months ago by  Vanessa Warwick.
    • This reply was modified 2 years, 9 months ago by  Vanessa Warwick.
    #18107

    View from the sideline
    Member

    The wonderful thing about the internet/Rightmove is that it doesn’t matter if you’re a “Foxton’s” or an online agent with only one property to sell.

    The buyer will only call if they like the property!

    #48757

    jamesgriff95
    Member

    That depends on the strategy and the expertise of the service you wanted. Some actually have success of the same ideas more than they expect, others are in neutral while few also fails. In business, you have to have the right knowledge of both management and marketing tools, whether you or some agents works for it. The proper implementation, idealistic, dedication and business dedicated agenda can be a good factor to be competitive market player.

    Regards,
    James of http://eatmywords.com/

    #57577

    coppenwall60
    Member

    There is so much hate directed to online agents, yet some of us are starting out this way for the right reasons.

    I decided to set up my own company offering high-street services, but with massive costs associated with renting office-space, as well as the huge costs for membership to Rightmove, we decided to take our business online. We are self-funding, so anything to keep costs at a minimum whilst we become established was beneficial to us as a company.

    We have been running for 2 months now and are seeing rapid growth, but we actually aspire to have an office.

    I believe quite a few online agencies are starting from a similar position. We offer high-street services, an auction service and have created our own hybrid “list it yourself” platform.

    Not all online agencies are bad, and I do believe there will be more and more uptake for online agencies over the next 5 years.

    Traditional agencies need to move with the times and create more of an online presence to stay competitive in the industry.

    Emma
    https://coppenwall.com

     

     

    #57591

    PeeBee
    Member

    copenwall60

    “There is so much hate directed to online agents…”

    NO “hate” is being directed toward online agents.  Five year-olds “hate” cabbage.  Spurned lovers “hate” their exes.

    What you see being directed is annoyance… fury… loathing… abhorrence, even – of the methods that the model has adopted to win business.  Not the Agents or the Agencies themselves – although the worst offenders clearly get the brunt of the backlash.  But seeing as it is thoroughly deserved – there’s no issue.

    The minute they stop the f*ckwittery (credit: Jonnie); do the best job possible for their client and put their efforts into DOING what they claim to have done – not only will they get the respect of the industry…

    …but we’ll all follow suit.

    In the meantime – buckle up ‘cos you’re in for a b1tch of a ride – and the wheels ain’t started rolling yet!

    In general, online offerings cheapen the industry.  They have nothing to offer but diluted service, at an even more diluted price.

    But their claims to be the pill for all ills are in the main based upon what is at best ‘alternative fact’.

    I’m going to give you what I believe to be a prima facie example.  Home truths, you could say…

    “We have been running for 2 months now”

    YET… in the website blurb it states

    “Coppenwall have had great successes with property auctions, and it’s becoming one of our preferred routes to market”

    JUST HOW MANY “great successes” are you referring to, here?  In numbers, please – examples may be requested later.

    JUST HOW MANY of your three current listings (as per Rightmove) have “preferred” this route to market?

    That’ll do for now – but believe me I’ve got a sh!tpile of other questions that will make those above look like basic arithmetic before I drop you a dissertation request on quantum calculus.

    I look forward to your response

    PeeBee

    • This reply was modified 1 month, 3 weeks ago by  PeeBee.
    • This reply was modified 1 month, 3 weeks ago by  PeeBee.
    #57766

    CPestateagentesq
    Member

    To Emma@Coppenwall

    I had a look at your website and it says there are ‘three simple routes to market’

    but you only show 2?

    and it also says ‘We have three avenues that cater for all budgets & situations.’

     

    • This reply was modified 1 month, 2 weeks ago by  CPestateagentesq.
    #57768

    PeeBee
    Member

    WELL SPOTTED, CPestateagentesq!<b></b><i></i><u></u>

    Change made within last 24 hours.

    Clearly the “List it yourself” offering got them ‘sent off’ by Rightmove (whose logo they have now removed from their website) – and the probable fear of the same fate befalling them from hastily signed-up-to Zoopla proved to be its’ death warrant.  The fact that they tagged an additional THREE HUNDRED QUID on the previous price of £99 just for a home visit was just pure Comedy Gold which we got to titter at for a few days at least!

    They have obviously been ‘cleaning up the cr@p’ that such enforced change requires to remain compliant with the likes of ASA (not to mention CPRs and BPRs) – but haven’t managed to remove all the Klingons.

    Funny, really – it’s not as if they are stowed out with listings to have a good excuse not to be completely spick and span and smelling of pine…

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