Estate Agents Must Remain Competitive!

"Estate agents must remain competitive as private property sales websites gain popularity."

It is hardly any secret that travel agents and tour operators are increasingly being cut out of the bookings process and their market share eroded, as an ever-increasing number of holidaymakers book flights and accommodation online. Anyone who has clicked their way to an economical holiday from the comfort of their own home will tell you that unless travel agents pull their socks up and find a way to offer a value-added service, their gradual demise seems to be on the cards.

Now, estate agents may very well be the next to face the online revolution with the emergence of an increasing number of private sales websites designed to put property owners and developers directly in contact with potential buyers.

At present, the Spanish real estate market is not regulated, meaning that just about anyone can set up shop in the business regardless of their training, experience or professionalism. This has led to customers having to put up with unscrupulous real estate businesses that charge exorbitant commissions while offering little by way of service other than simply introducing buyers to sellers. However, as customers gradually become wiser to the property-hunting alternatives available, estate agents will have to take it upon themselves to exercise the control and self-discipline that will allow them to improve their offer and remain competitive in the face of change.

A number of estate agents are already trimming off the fat from their commissions lowering them to as little as 2%, as in the case of one Marbella-based company. However, cutting agency fees will not be enough and customers will also increasingly be expecting their estate agents to provide them with more sound, professional advice and a high level of security and peace of mind as they go about purchasing property. Granted, many estate agents already provide this to a lesser or greater extent, but even those that do will benefit greatly from the kind of soul searching and innovation that will allow them to offer an even more complete service and guarantee their place at the head of the pack.

While the competition with private property sales websites may prove to be as tough as that which travel agents face today, it should not be perceived so much as a threat, but rather as an opportunity for estate agents to clean up their act, regain the public’s confidence and start to offer a high-quality and value for money service to prospective property buyers. The days of showing a customer around a few properties in the hope of turning a quick buck are indeed numbered. Surviving the guillotine of the online real estate revolution is going to take much, much more than that!

This article was supplied by Sortedsites.com.
Sorted Sites offer a complete solution for Real Estate Agents, Specialising in Design, Software and Internet Marketing. Sorted Sites Blog

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Estate Agents Must Remain Competitive!