According to recently revised forecasts by Savills, UK house prices will exceed a 9.5% rise this year, with London prices expecting to see a 15% increase. Great news for estate agents, however, prices in the capital are expected to slow in 2015, with no increase predicted for 2016.
Countrywide’s research shows that first-time buyers in the capital are largely made up of pairs of people aged 33 and above, and solo buyers aged 38 and above. Agents should ask themselves how they can increase appeal to the so-called “Bridget Jones market”. By devising ways to enhance the customer journey and increase opportunities for sales, they can safeguard against such a lull.
Speak their language
Estate agents should be able to communicate with prospective buyers in plain and transparent language, avoiding complex industry terms and legalese wherever possible. This becomes even more important when dealing with people whose first language isn’t English. By ensuring non-legal documentation, web copy and marketing materials are clear and concise, estate agents can increase appeal across multiple buyer profiles, widening their customer base.
Most people in the first-time buyer age bracket are likely to be tech-savvy, so using technology that makes the process from search to completion easy and as hassle-free as possible should make both the buyer and the estate agent’s life easier.
Go mobile
As of early 2014, approximately 71% of phone consumers in the UK have smartphones, so it’s hardly surprising that more and more industries are investing in mobile technology. Whether in the form of a dedicated mobile website or responsive design, there is no doubt that mobile internet technology is vital for businesses and consumers alike.
Being able to access information on the go is almost taken for granted these days. This is especially true of the Bridget Jones market, which has grown accustomed to accessing information on-demand, at the touch of a button, so it’s important for estate agents to be able to provide property listings and more in a high quality format that suits their customer base.
Features such as comprehensive search and direct contact functions mean estate agents are able to target the right information to the right people, thus ensuring buyers benefit from a tailored service.
Get appy
Ever-increasing in popularity in the mobile age, apps offer another convenient way of providing a service to consumers. A property app can offer various useful functions, including standard or custom property data feeds and detailed property listings; designed to provide relevant, up to the minute information to prospective buyers. Sharing abilities such as email, SMS and social sharing are popular features, ideal for people buying in pairs, who may be time-restricted or splitting the responsibility of the search.
Navigation and mapping facilities make it easy for users to view the exact location of properties and get directions, adding to the ease of the buying process. For agents, the ability to easily automate procedures not only saves on time, but increases opportunities to reach buyers at any time, helping to drive sales.
It’s safe to say that mobile internet is at the forefront of current technology trends, so by choosing the right software to meet the needs of buyers and staff alike, estate agents can work with the ebb and flow of the property market.