6 signs your estate agency may not survive the next 5 years

6 signs your estate agency may not survive the next 5 years

  • You’re losing money

This is the obvious one. If you find yourself losing money each year, you need to take action. Doing things the same thing year after year will only continue to lose you money until you’re out of business. Take a look at what you can do to innovate and change your processes, invest in long term solutions, and your business will soon be on the up and up.

  • Your marketing hasn’t changed in the last decade

As the world has evolved over the years, marketing has too. Tried and tested activities that were popular years ago, just don’t work anymore. Advertising rarely gets enough response in order to justify the costs and you might even find that the website you spent a lot of money and time on, just isn’t creating the appropriate leads and clicks. People no longer want to receive newspaper adverts and flyers and filter out things they do not want to read. Nowadays, effective marketing comes down to creating high quality content, which is then shared across the web, print, and over email.

  • You have dead leads

Dead leads are a waste of time, effort, and resources and they need to be cut from your estate agency. By using technology to track your customers on social media and your website, gather their data, and then add those leads to short, medium and long term nurture journeys, you can make sure a lead is always given the attention needed to convert them to a customer. Only by taking advantage of prop tech to improve your business can you stop wasting your free time chasing after new leads which won’t go anywhere. It will also save you a ton of time usually spent trawling through your call back diary.

  • If you go on holiday, or take time off, your agency falls apart.

Your parents might have drummed into your head, “The best way to get something done right is to do it yourself!” Solid advice, but if you’re too enamoured with your own way of doing things, you’ll never learn to delegate well.  When it comes to delegation, you can either assign someone you trust in your staff, or to make life easier, delegate to an automation tool.

When you automate your processes and small tasks, you can literally make money while you sleep. A prop tech tool is tireless, fast and will do the job better than you ever could, so why wouldn’t you use one?

  • You’re trying to do too much

Small estate agencies often don’t have the time, budget or resources to successfully install an in-house marketing strategy. This doesn’t mean that you need to give up but instead consider using a specialist external company. Set your business clear goals and DON’T change them. Even if you only set yourself 3 goals for the whole year, it’s something!

  • You don’t have a strategy in place

As with everything else in life, marketing requires a plan. Without marketing, sales may crash and companies may have to close – every business knows they should be doing marketing but how is another question. Marketing is not just sending a few e-mails and uploading a social media post every week, for successful marketing you need a strategy and once you have a plan, it must be implemented. A marketing strategy includes audience, revenue, profit and brand and you should change your strategy when you realise that what you’re doing is not as effective as it could be.

For help with renewing and innovating your business to make sure that it doesn’t just survive, but thrive in the future of the industry, get in contact today. 

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