Earlier today, Co-Founder Gary Keller of Keller Williams (KW) declared that they are, 'no longer a real estate company...we are a technology company No. 1'.
As one of the biggest estate agencies in America, and possibly the world, it may come as a shock to those who have followed their rise to becoming an expert in the property industry, yet it’s a move that was predicted by Mark Burgess, the CEO of proptech company Iceberg Digital months ago.
Where did my industry go?
Mark Burgess covers this in his best selling book “Where did my industry go?” which became the number 2 business book in the world and a best seller in 4 different categories on Amazon, and has become a staple read for estate agencies willing to change their out-dated mindset and learn the strategy to destroy the competition.
In the book, Mark mentions, “Estate agency is currently sitting at a crossroads. In one direction, they can follow the high street greengrocer- in the other direction – is a world of exceptional growth and the reinvention of an entire industry.”
Why does this matter to me?
Agents NEED to get on board with understanding and gathering their data and use systems that can advance them, as their current software is not built for this purpose.
Keller Williams’ chief innovation officer, Josh Team, said: “Agents are data rich, but insight poor…Our core belief is that over the next 12-18 months, winners and losers are going to be chosen and agents, right now, are being caught in the middle of this larger game.”
The simple fact they’re willing to declare themselves a technology company over an estate agency really highlights the importance of technology use within the property industry, and other agencies will have to integrate these lessons into their own business if they are to survive the future of where the industry is heading.
So, if you’re not implementing technology to gather data and nurture your clients using automation now, how do you expect to compete in the future of estate agency?
What can I do next to prevent being left behind?
While estate agencies should be following suit with the use of technology and data led campaigns within their own companies, you shouldn’t make the mistake of taking on the herculean task of trying to create your own system or take over your own content marketing.
The key is to use automation tools that work while you carry on with your day-to-day tasks. Proptech tools, like the ones Iceberg Digital offers, have developed over the last couple of years to the point where you can use content marketing to collect data, use that data to automatically market to the right clients and nurture your client relationships for life, ensuring you never lose a lead, and your marketing is working seamlessly and efficiently to grow your business, without you having to lift a finger.
These tools mirror the ideas that KW are pouring into their business, and will be vital for estate agencies to stay in the forefront of agency in the coming months and years.
Start making a change NOW.
This news, if nothing else, should certainly inspire at least a first step for estate agents in the UK. The important takeaway is to start putting ideas into place now to help you compete with the online, no-agent competitors that are knocking on the door of the industry.
For more information about the proptech tools that Iceberg Digital offer, or to discuss where your industry is heading, book a discovery call with us today by filling in the form below or come along to our Estate Agency X event in March where we will be covering these topics and much more to prepare you for the future of agency! Tickets and more information can be found here.
You can also buy a copy of Mark’s book explaining the future of estate agency here
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We provide marketing automation and artificial intelligence estate agency software to estate agents. We work with thousands of traditional estate agents to transform them into more digital and data driven businesses, as this is the only way we believe they will exist in the next 5 to 10 years.