Services like Zoopla and Rightmove revolutionised the way properties are marketed. Gone are the days of trawling your local high street, from one estate agent to other. Now you can search all available properties in your area via one of the aggregated services.
So how do those estate agents differentiate themselves to build preference amongst vendors and those searching for properties? The importance in brand building has never been more vital – and with that, what that brand represents.
It has long been known that Estate Agents are starting to operate like marketing agencies for properties, but the new trend is rapid adoption of technologies.
Foxtons automated, centralised systems and business processes have created a highly scalable and efficient business model. Their constant search for digital opportunities is at the core of their strategy – we can read in their website. All of this underpins their brand as they still invest in the human led customer services.
At the same time, state side we read about Opendoor – a home flipper raising €300M at a 2 Billion valuation. This Proptech start-up will no doubt send ripples through the property sector. 5 years ago, Foxtons UK, market leader, made $1.2 billion stock market debut.