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Estate Agencies

Why Every Estate Agent Needs a Personal Assistant

October 25, 2024

Having a personal assistant should not be seen as limited to the world of busy CEOs and executives of large companies. Benefitting from a PA is for anyone who owns their own business and has limited time to deal with important yet routine tasks. Whether you are a principal agent with many agents in your team, or you work independently, a Personal Assistant can help your estate agency run smoothly, and free you up to use your time in a more productive way. In short, it helps in managing a heavy workload and improves efficiency so you can focus on mission critical tasks that will grow your business.

Here are five of the many ways a Personal Assistant can free up your time.

  • Efficient diary management: Personal Assistants are organised and well equipped to handle tasks such as scheduling appointments and following up with clients.
  • Seamless client and supplier interaction: PA’s have great written and verbal communication skills – ideal for prioritising and responding to your emails for you, when appropriate, and bringing important matters to your attention.
  • Admin management: From document management to capturing financial data, a PA can efficiently handle a wide range of administrative tasks that consume a lot of time.
  • Superior CRM management: Making sure that client information is uploaded to your CRM promptly and correctly is a time-consuming task that your detail-orientated PA will manage for you, without errors, in half the time.
  • Research and lead generation: Personal Assistants can research potential clients, develop prospect lists, and even cold call leads.

One of the greatest benefits of taking on a Personal Assistant is that they become your second tier of quality control, saving you from mistakes that can creep in during busy times when multiple listings and sales are happening all at once.

Here are 5 more benefits of having the back up of a great Personal Assistant:

  • Improved strategic focus: Business success is achieved more swiftly by strategically allocating resources and effort. Being able to delegate busy work to a Personal Assistant will allow you to concentrate on larger strategic goals and growth-oriented initiatives.
  • Increased productivity: PA’s excel at time management. By delegating time-consuming and repetitive tasks to a PA, you become way more efficient. There are more hours in the day to invest in tasks that require your unique expertise.
  • Reduced stress: Juggling the responsibilities of a massive and relentless workload can lead to burnout. A PA acts as a gate keeper and buffer, shielding you from the distractions of daily work and life. This enables you to focus and approach your work with reduced stress and better mental clarity.
  • Skill diversification in your business: A skilled PA possesses a wide-ranging skill set. This equips them to handle a diverse array of tasks – from streamlining and automating workflow and processes to managing social media accounts or conducting research or handling financial administration.
  • Better work-life balance: A personal assistant provides both personal and professional support. This helps to relieve the unending demands of work that can overshadow quality time spent with loved ones or time spent on personal interests and self-care.

VAs are more cost-effective than PAs

You may long to take on a Personal Assistant but be holding back because you are committed to keeping your overhead expenses in check. This is when taking on a bespoke Virtual Assistant to be your right-hand person is the answer. VAs are highly skilled and experienced professionals who want to work remotely. Taking on a VA comes with no recruitment costs, no additional monthly employee benefits or leave pay – and you don’t have to pay for additional office infrastructure. For the same hourly rate as the UK’s Minimum Living Wage, you can take on a superb VA who will transform your life while you transform your business.

Estate Agencies

How a Sales Progressor Can Streamline Your Completions

October 18, 2024

What skills and attributes does a Sales Progressor need?

The role of a Sales Progressor is to monitor and facilitate the timely progress of property transactions – a complex process that starts at the time an offer is accepted and which continues right through to completion. Sales Progression is a specialist role in which the right knowledge, good people skills, excellent written and verbal communications skills, efficiency and unwavering attention to detail are essential. In a busy estate agency there can be 40 – 60 property transactions underway simultaneously. A Sales Progressor must fully understand what is required to complete each step of the sales progression process and must have the capacity to juggle multiple concurrent projects.

Inhouse Sales Progressors save time and money

There is something to be said for having a focused team member champion the sales progression in an estate agency. Bespoke Sales Progressors have been proven to streamline and hasten completion time – which lowers the risk of a sale falling through.

What’s more, they are not pulled from pillar to post by conflicting client priorities. They are a trusted member of the team who understands the workflow and communication preferences of each of the Estate Agents they support. They are well positioned to build a meaningful relationship with clients. And last, but by no means least, at the going rate of about £300 for a single outsourced sales progression, taking on an in-house Sales Progressor is incredibly cost-effective. It costs around 50% of the cost of outsourcing ten property transactions.

Here are 5 ways a bespoke Sales Progressor can streamline your completions:

  1. Efficient prepping

This is where sales progression software like Alto or Reapit is so useful in the hands of a tech savvy Sales Progressor who is diligent in ensuring that all information is captured correctly. The software allows for all contact information and documentation to be captured and stored in one place across the chain. It allows skilled Sales Progressors to swiftly collect all necessary documentation and store it online from the get-go, so that each transaction starts with everything in place.

  1. A communication hub

Dedicated Sales Progressors provide a single point of contact. They ensure that the lines of communication are open and efficient between all stakeholders. As the pivotal communication link, they proactively keep all parties in the know by providing regular updates. This is accomplished by the Sales Progressor uploading notes and conversation content on the relevant digital property profile, so it is visible to all stakeholders. In addition they provide daily updates over preferred channels like WhatsApp or email with all concerned – and they will hold a weekly status meeting via Zoom with their Estate Agents.

  1. Focused timeline management

Skilled Sales Progressors can streamline transactions by creating a structured workflow where tasks are effectively prioritised. By keeping an attentive eye on crucial deadlines and milestones online – and working through an online tick list that tracks each step of the sales progression process, a dedicated in-house Sales Progressor will ensure that every sale proceeds as quickly as possible, without unnecessary bottlenecks and delays. Our Estate Agent clients regularly feed back to us that their dedicated Sales Progressor has cut back on the time it takes to complete. With a bespoke Sales Progressor at the helm, on average, straightforward transactions can take as little as 4-6 weeks, while more complex transactions generally take 14-15 weeks.

  1. Timely problem-solving

When a problem crops up, an on-the-ball Sales Progressor with well-developed problem-solving skills will anticipate and resolve potential problems before they jeopardise the sale’s progress. They ensure that any challenges that do crop up are swiftly addressed. This makes them indispensable in maintaining each transaction’s momentum.

  1. Proactive client support

Buyers – whose living arrangements can be impacted by how long a property transfer will take to be completed – appreciate being kept in the loop. It can be one of the most stressful times for a buyer but having someone knowledgeable to consult with who has an overview of the entire process can really help. Bespoke Sales Progressors can provide much-needed guidance to an Estate Agent’s clients as they steer them through the complexities of sales progression, demystify processes, and enhance the customer experience.

The benefit of taking on a Sales Progressor through VA Central

Our carefully matched VAs work in a parallel time zone to the UK. They work exclusively for one client, during UK office hours, and are chosen as a match to every client’s unique company culture. We ensure that they have appropriate education and at least 3 – 5 years’ experience. The outcome is that not only will our Sales Progressors go on to do an outstanding job – they also take a relatively short time in training and are quickly up to speed. For us, a positive attitude is everything. Our Sales Progressors are passionate about what they do and quick to go the extra mile.

Estate Agencies

5 Signs It’s Time To Hire A Virtual Assistant

October 11, 2024

Before the culture of being busy redefined success, a person’s wealth was measured by their spare time. Being rich meant being able to work less because money gave a person the freedom to take vacations or spend leisure time with friends instead of pushing long hours at work. Today, busy has become a status symbol. But being perpetually busy can shortchange your clients, hinder your employees’ development and harm your health. And it does not necessarily equate to having a profitable and growing business.

As an Estate Agent, do you feel like you are busy running on a hamster wheel – working like crazy but not really going anywhere? Here are 5 signs that its time to hire a Virtual Assistant:

  1. Routine admin tasks consume your day

Being an Estate Agent is a busy job. Relentless admin and back-end work goes with the territory. But if you regularly suffer from more work than week, you are clearly trying to do too much on your own. Being consistently swamped by routine work can be a serious obstacle to business growth – especially if It means you are too busy to get to priority tasks.

  • The solution: VAs today are experienced professionals who are technically savvy. Taking on a VA with great administration skills, or an Executive Assistant, will free up valuable hours in your working day. Their tasks can include phone, email, and calendar management; research and preparing reports; and any task that can be done via digital technology to free up your day.
  1. Your client follow-ups are lagging

Successful Estate Agents understand the need for excellent customer service. However, wearing too many hats can get in the way of getting back to clients and prospects promptly – not to mention having the time to cold call prospects. This is bound to have a negative effect on business – getting in the way of landing new clients and servicing existing clients in a way that builds positive, long-term relationships.

  • The solution: A VA with well-developed communication skills will assist with intelligent, personalised, timely client communication. Handing over the management of your CRM system to the right VA will lead to moving sales along more quickly, generate a greater number of qualified leads that contribute to increased sales, more referrals, and happy repeat clients. Plus great client service will give you a competitive advantage over other agents in your area.
  1. You are missing out on valuable opportunities

Estate Agents who prioritise day-to-day operations over focusing on mission-critical priorities can be busy enough to miss opportunities for growth and market expansion. This is likely to lead to stagnation and leave the business vulnerable to shifting trends in the competitive landscape.

  • The solution: Taking on a VA with prior experience in estate agency or an allied industry will not only help to streamline and automate processes, it will improve your efficiency and free up your time so you can be more productive where it matters most. This will allow you the time to innovate new service offerings and chase up exciting opportunities.
  1. You’re too busy to scale your business

UK-based Estate Agents have been found to spend on average between 30 to 50 hours per week at work. However, during peak periods their working week can reach 60 to 70 hours as they put in additional hours. While it can be easy to equate being super-busy with growth and success, in truth pushing the envelope without a plan and the right skills onboard is not conducive to having the time and resources to scale your business.

  • The solution: Take on a VA – or team of VAs – with precisely the skills you need. Delegate routine administration, bookkeeping, letting or sales administration or even property management tasks to a skilled professional who will do the job quicker and better than you can. And utilise the specialist skills of a VA who is an experienced Digital Marketing Manager or Social Media Manager in implementing your strategy to grow your business.
  1. You have no hope of work-life balance

As an Estate Agent, you’re pretty much expected to be on call, seven days a week. On the weekend, when everyone else is relaxing or socialising, you’re very likely glued to your phone, showing properties or catching up on admin backlog.  Yes, weekend work is par for the course, but better work-life balance can be achieved when you enjoy the benefits of a flexible schedule.

  • The solution: Taking on the right bespoke VA who becomes a trusted member of your team – along with developing a good working system for touching base and regular work reviews – means that you can work a flexible schedule that better integrates your work and personal life. Plus you can rest assured that when you take a decent and much needed break, your business continues to run like a well-oiled machine.

By delegating routine tasks that are not your forte to a specialist VA you gain far better results, for a fraction of the cost of your hourly rate – saving you both time and money. In this way, taking on an experienced Virtual Assistant will allow you to work smarter, not harder, freeing you up to leverage your strengths and make the most of your time to grow your business.

Estate Agencies

The HIDDEN Cost of Doing Everything Yourself

September 27, 2024

Entrepreneurs don’t have to know, understand, and do everything themselves to be successful in business. In fact, most successful estate agents don’t attempt to go it alone. They are successful because they’ve found the right people with the right skills to handle important yet routine tasks for them. Growing a team can be perceived as increasing business overheads. This is what drives many small estate agents to save money by shouldering the workload and doing everything themselves. But are they saving money in the long run or are they just limiting business growth? There are some very serious hidden costs inherent in doing everything oneself.

Here is a run-down of the hidden costs DIY estate agents pay for doing everything themselves:

  1. Emotional and physical costs
  • Stress:  Two of the common causes of stress in estate agents include a massive workload and working long hours.
  • Job burnout: An extended period of experiencing constant pressure and relentless stress along with low levels of support is likely to cause job burnout – or worse.
  1. Lack of work-life balance
  • Work-life balance incorporates five main facets: work, mental health, physical well-being, time to socialise (or spend quality time with family) and time to rest. To avoid burnout, estate agents should strive to achieve a balance between their work and personal lives. This includes taking sufficient time for themselves.
  • Not being able to take a break: For estate agents who have no back up or support, taking a break means closing the doors of their business while they are away, which is a no-no for them.
  1. Operational inefficiencies
  • Lack of attention to detail: A large workload, long hours and insufficient time all lead to cutting corners and attention to detail goes out the window.
  • Compromised quality: When you are constantly under pressure or doing too much at once, the quality of your work is bound to suffer and mistakes creep in.
  • Slow-moving client service: Navigating a massive workload will inevitably lead to a slower response to client queries or engagement.
  1. Stifling business growth
  • Delayed decision making: Estate agents who are overwhelmed by a massive and relentless workload struggle to make timely decisions. Being a bottleneck can slow down critical processes and hinder growth opportunities.
  • Lack of skills: There are specific tasks that every estate agent faces. These are often not the tasks that they are good at or enjoy – and they are tasks they take far more time to complete than in the hands of a specialist professional.
  • Missing out on opportunities to learn: Busy estate agents miss opportunities to learn new things when they try to do everything themselves.
  • No capacity to scale: Building a company means building a team. An estate agent who does everything themselves limits their company’s capacity to grow.

The remedy: Take on a Virtual Assistant

Taking on a Virtual Assistant will allow you to delegate the routine tasks that would otherwise take up far too many hours in your working day. This can include anything from admin tasks, like diary management and answering emails, to managing your social media accounts or managing your bookkeeping.

Here are three benefits of taking on a VA:

  1. Saving money: Taking on VA is significantly more cost-effective than employing a full-time, in-house staff member because you pay them for their productive time without having to pay employee benefits or increase office overheads.
  2. Freeing up time: Taking on a VA will free up your time so that you can focus on the things that are most important to the success of your business.
  3. Achieving work-life balance: A Virtual Assistant will help you to maintain firmer work-life boundaries by taking work off your plate and streamlining work processes. Plus a trusted VA will manage day-to-day work while you take a break.

If administrative tasks are taking up the bulk of your day and getting in the way of important work – or if you’re continually missing out on family dinners and your friends complain about not seeing you enough, then it is time to take on a Virtual Assistant to help lighten your load.

Estate Agencies

Future Proof Your Estate Agency

September 27, 2024

Future proofing an Estate Agency business in the UK hinges not only on leveraging advances in PropTech or navigating the highs and lows of the property market. It is also about marketing initiatives and customer relationship management being in being in sync with who property buyers are and their buyer behaviour. Moving into the future, the majority of property buyers will fall into Millennial and Gen Z generational cohorts.

Millennial property buyers are vat an all-time high

An article on millennial home ownership in in the May 2024 issue of Business Matters magazine stated: “Homeownership among (UK) millennials has climbed to its highest level in over a decade, driven by a significant rise in earnings among young people, according to recent research from the Institute for Fiscal Studies (IFS).”

Millennials are tech-savvy clients

Millennials are the largest generation in the UK today, making up 22% of the population. Age wise, they range between 28 and 43 years old – and two thirds of them have at least one child. Millennials were the first generation to be raised with smartphones, instant communication methods, and social networking. According to a recent survey of millennial homeowners, when it comes to looking for a new home, this cohort is highly likely to start their property search online. This means Estate Agents have no alternative but to use online tools to reach and connect with these tech-savvy clients. Plus, they are used to instant access and expect an immediate response and availability when talking to a service provider.

Millennials are strapped for time

Online research and shopping are entrenched in Millennials’ consumer behaviour. This is amplified by the fact that their lives are super busy with work, family, and other commitments. They may not have the time or desire to spend driving around to endless open houses or meetings with Estate Agents to narrow down their search. Online platforms allow them to search for ideal homes from the comfort of their own homes – anytime day or night. Seeing a property they like online will trigger their contacting the Agent.

Gen Z want to buy property

Older members of Gen Z are already in their mid to late twenties. According to the National Center for Social Research Gen Z, as the future movers and shakers in the property market, “face the biggest gap of any generation between housing aspiration and reality,” from a financial perspective. However, the majority still want to buy property. Gen Z as first-time buyers are fully immersed in the digital landscape. Not only are they digital natives, increasingly they will live in the Metaverse – a 3-D reiteration of the internet that includes immersive virtual worlds where people can connect with friends, work, play games and shop. Marketing to Gen Z consumers demands a very specific language and approach. Successful Gen Z marketing is based on common themes of ethics, humour, relatability, honesty, knowledge and community.

Here are 3 ways Estate Agents can future-proof their businesses while aligning themselves with the property buyers of the future:

  1. Digital marketing: Smart Estate Agents have websites and social media platforms that offer detailed listings with information about the features and amenities of each property. This includes featuring property videos or virtual tours that allow potential buyers to get a better sense of the property before they visit in person. Yet, despite the fact that property listings that include a video receive approximately 400% more enquiries, research shows that 80% of UK estate agents still don’t use video.
  2. Harnessing AI: With Estate Agents being kept busier than ever, custom software has never been more important for this fast-paced industry. The integration of generative AI as part of bespoke property software solutions, though not yet prominent, is a growing trend. AI can analyse massive volumes of data to identify and prioritise leads, ensuring Agents focus efforts on high-potential prospects. And AI can analyse marketing data to create highly targeted advertising campaigns, reaching the right audience with properties that perfectly suit their requirements.
  3. The virtual office: Digitally savvy Estate Agents can now lower their overhead costs, generate a following and promote their stock entirely via digital marketing and social media without needing a high street presence. This has paved the way for growing their businesses through growing the team – taking on experienced, tech savvy Virtual Assistants who bring specialist skills into the business and who free up their Agents’ time by tackling important yet routine tasks.

Clever Estate Agents are future proofing their businesses by containing their costs and upping their efficiency. This is accomplished by taking on an experienced Virtual Assistant – or a team of them.

VAs can manage a range of roles in Estate Agency, from Executive Assistance to Administration, Digital Marketing, Social Media Management and Bookkeeping. The right VAs can also take on Sales and Letting Administration roles – or Property Management. If a role can be managed using up-to-date digital communications software, then there is a VA who can fill the role, efficiently and cost-effectively.

Source:

https://bmmagazine.co.uk/in-business/millennial-homeownership-reaches-12-year-high-amid-rising-wages/

https://natcen.ac.uk/news/society-watch-2024-generation-zs-attitudes-housing-social-care-law-and-order

 

Estate Agencies

How Virtual Assistants can help improve your personal branding

September 20, 2024

Establishing a strong personal brand is critical for success in today’s highly competitive UK Estate Agency market. Firstly because it supports building a good reputation. Referrals are often given as a result of the trust and professionalism an Estate Agent has established over time. And secondly because today’s potential clients start their property buying research online. A strong personal brand online ensures prospective clients respond positively to what they find. It helps Agents in keeping their marketing message consistent and upholding their positive reputation.

What constitutes a personal brand?

For Estate Agents, whether you work within a multi-agent business or as an independent, personal branding is about consciously building a reputation that highlights your unique qualities and expertise. It conveys how you want to be perceived by clients and colleagues. This may be as an expert in a particular geographic area or as a skilled negotiator who is known for getting your clients their asking price. Thus, visible personal branding involves far more than just promoting a company logo and tagline. It entails multi-channel marketing communication that conveys your ethos and values. Upholding personal branding also has a practical component – it is found in day-to-day service that backs up your skills and the unique value you bring to your clients.

Why is a personal brand important?

Competition between estate agencies in the UK is fierce. Your personal brand is the tool that sets you apart from your competition by communicating your values, experience and service offering.  Consistency in your brand identity over time increases clients’ good perception and the trust that will help you stand out among your many competitors in the long term.

How can a Virtual Assistant help to improve your personal branding?

It takes specialist knowledge and hard work to develop and uphold a positive brand image. The great news is that modern Virtual Assistants are not just proficient at handling administration – they cover a wide range of specialist roles. Today’s Virtual Digital Marketing Managers and Social Media Managers are experienced specialists who choose to work remotely. Here are 3 ways your specialist VA can help you improve your personal branding:

  • Taking on a Virtual Digital Marketing Manager will ensure you effectively reach targeted online audiences that offline advertising cannot reach without seriously upping your marketing budget. Through maintaining consistent messaging, tone, and graphics across all your marketing channels, prospective clients will begin to recognise your brand and associate it with your unique service. Being visible and consistent as customers navigate the digital space will increase trust in your brand and keep you top of mind.
  • It doesn’t matter how many followers you have or how many of your posts have gone viral. If you’re not relatable, your personal brand won’t stand the test of time. Taking on a Virtual Social Media Manager who manages your socials will grow your business’s reach and impact through creating and posting quality online content that is true to your brand voice and ensures that your audience feels a genuine connection with you.
  • When it comes to walking the talk. Taking on a top-quality VA who manages important, yet routine tasks for you can help you uphold your professional brand identity by freeing up your valuable time so you can focus on client facing action and business priorities. Plus, when it comes to day-to-day operations or project management, a skilled VA’s efficiency and expertise in dealing with clients on your behalf will help to support your professionalism.

In conclusion

Actively maintaining a strong personal brand is crucial for Estate Agents’ success. It helps to sustain visibility, provides a clear message about unique services, makes them relatable and convinces prospective clients of their value. While Estate Agents excel at helping clients buy and sell property, they may not have sufficient expertise in marketing or branding. This is where leveraging the know-how and skill of the right Virtual Assistant comes into play. It allows Agents to cost-effectively take control of sustaining their personal brand, in-house. Supported by a well-crafted personal brand, they attract the right clients, generate ongoing referrals, and help you stand out in a competitive market.

Estate Agencies

Client Conversations That Convert

September 13, 2024

Estate Agency is a people-centric industry. Without timely and effective client communication, Agents would not have a viable business. Regular communication and keeping clients in the loop fosters trust, ensures understanding, and facilitates smooth processes. As an agency grows, and the volume of client interactions continues to rise – especially if the agency also manages a letting portfolio – maintaining consistent communication with clients can become a challenging, time-consuming task. In the digital age, communication platforms play a pivotal role in connecting Estate Agents with their clients and support strong client relationships. This is where digital communication systems in the hands of a skilled Virtual Assistant can transform your business.

So, what is a digital communication tool?

A customer communication tool is one of several available channels that facilitate interaction between a company and their prospects and clients.

Digital communication tools are essential in three ways:

  • When it comes to marketing the agency, today’s AI-enhanced digital technology allows for well targeted, personalised communication that generates and converts leads into clients.
  • In servicing signed clients who are in the middle of selling or buying property, digital communications tools have the power to make an incredible impact on clients’ interaction with your agency.
  • Digital communication tools allow Agents to stay in touch with clients well after a sale has been concluded, helping to keep the agency top of mind and to acquire ongoing personal referrals.

What is the purpose of customer communication tools?

At their heart, client communication tools accomplish 3 things:

  1. Facilitate seamless client interactions across various channels, including email, live chat and even social media.
  2. Manage enquiries, feedback, and support requests efficiently, regardless of the channel through which they originate.
  3. Track client behaviour and preferences, providing valuable insights to tailor communication efforts effectively.

5 examples of common customer communication tools

In today’s competitive landscape, clients have grand expectations for customer service and want prompt – if not immediate – replies to their questions and issues. By using customer communication tools Estate Agents can offer real-time support to their clients, leading to greater satisfaction and lasting customer loyalty.

  • Email Platforms: Email marketing tools allow Estate Agents to create, send, and track email campaigns to engage with prospects by sharing relevant content and delivering promotional offers. Email campaigns are also useful in staying connected with existing clients to remain top of mind. These platforms typically feature segmentation options and analytics to track performance and nurture client communication management.
  • Live Chat Software: Live chat software enables real-time communication between prospects or clients and your team via text-based messaging through chat tools. Estate Agents can embed live chat widgets on their websites to provide instant assistance, answer questions, and resolve issues promptly.
  • SMS and Mobile Messaging Platforms: SMS and mobile messaging tools are great for immediate back and forth conversation, enabling an Agent or their VA to send personalised text messages, notifications, and alerts to clients’ mobile devices. These platforms effectively deliver transactional updates and appointment reminders, driving engagement and client retention.
  • Voice and Video Communication Tools: Voice and video communication tools facilitate real-time communication between agents and clients via voice calls, video calls, or conferencing platforms. These platforms are beneficial for providing live support, conducting virtual viewings, hosting remote meetings, and building virtual in-person client rapport. Today they also have made headway into virtual property walkthroughs.
  • The Telephone: After a sale, follow-up is how you let your clients know your relationship with them matters in the long term. Your Virtual Assistant can systemically call your clients to provide after-sales support and to stay in touch. It is a simple thing that adds tremendous value to your brand in the eyes of your clients.

The common denominator in the five examples above is that they are client communication tools that all facilitate personalised interaction – they are human not AI-driven. In the hands of your Virtual Assistant this allows your company to have personal interaction with your clients at every point of engagement. Your VA will get to know your clients and learn to understand what they want. They have the ability to engage intelligently at every point of connection and to solve problems seamlessly when you don’t have the time. They keep channels of communication open and flowing. In a nutshell, using digital communication tools Virtual Assistants make consistent client communication possible.

Read our blog on how Virtual Assistants can manage Estate Agents’ CRM effectively.

https://vacentral.co.uk/how-virtual-assistants-can-manage-estate-agents-crm-effectively/

Estate Agencies

AI In Action

September 6, 2024

Digital tools paved the way for VAs

One area where digital tools – especially communication and project management tools – have made a significant impact on Estate Agency worldwide is that they’ve facilitated taking on Virtual Assistants who are able to work remotely and fulfil a broad range of tasks. They allow VAs to manage important yet time-consuming day-to-day tasks to free up Agents’ valuable time so they can focus on mission-critical priorities, like selling property and growing the business.

AI is paving the way for increasing sales while saving time and money 

While digital tools have been used increasingly since the mid-1990s, it was only in 2023 that AI truly went mainstream. Today, if Estate Agents want to stay keep up with competitors, AI is no longer a nice-to-have. It is essential for speed and accuracy in gaining industry and market insights through data manipulation. It is pivotal for seamless, personalised client interaction. It is a strategic imperative for staying cutting edge by wowing sellers with bespoke property videos that impactfully market their property – or moving the dial on sales by offering incredibly life-like virtual property walk-throughs. 

It is important to remember, though, that AI is a tool. It’s only as effective as the people who wield it. It’s not a replacement for human originality. 

AI is a very powerful tool in the hands of a tech savvy Virtual Assistant

Estate Agency will always be a ‘people industry’. In both the sales and letting sectors, providing a top quality, personalised service relies heavily on human expertise, insights, and emotional intelligence. However, in the hands of a skilled and experienced Virtual Assistant, AI tools will allow your VA to be more productive and efficient than when they use conventional tools. Not only will their turn-around time be faster, their job description will expand as AI allows them to automate routine tasks, produce valuable information and reports, generate more leads, better identify and reach your target audience – and then use sophisticated AI-enhanced marketing campaigns to nurture them and turn prospects into clients. 

Here are 3 very practical ways that AI will revolutionise UK Estate Agencies: 

  • CRM as more than just an information archive

Traditionally, Estate Agents have relied on manually managing client data, tracking interactions and nurturing leads. CRM systems hold a wealth of valuable information that AI can mine way faster than traditional software can. For example, AI can analyse the data stored in CRMs to build comprehensive customer profiles that identify their needs, preferences and even behavioural patterns. This enables estate agents to provide more personalised and targeted services.

  • Accurate and timely property valuations 

AI is improving the accuracy and speed in which estate agents can valuate properties and analyse market trends. Traditionally, preparing an accurate property valuation involved manual comparisons of equivalent properties in an area, while also factoring the proximity to desirable amenities, like schools and shops, or any shortcomings. Even with an in-depth knowledge of a particular town or suburb, this was a time-consuming process – and susceptible to human error. Today, AI algorithms can quickly sift and analyse massive amounts of data, including property and area characteristics, historical sales data and market trends, to provide more accurate valuations.

  • More streamlined letting and property management 

AI can automate the tenant screening process by quickly analysing credit scores and rental histories. This can help agents, and their landlord clients, make better informed decisions, reducing the risk of late payments or property damage. AI-driven chatbots can handle routine tenant queries 24/7, responding instantly to common issues, like maintenance requests or lease information. This allows letting agents to manage the people side of managing a property portfolio and provide a personalised service. 

AI is certainly here to stay and cannot be ignored as a tool to increase efficiency and reduce operational costs. And, according to IBM: “We’re at an exciting time in the history of customer service where organizations can experiment with these new tools and build a path towards a world where AI is the copilot for every customer interaction… While [people] will continue to be an integral part of any customer service interaction, the use of new technologies is quickly becoming a competitive advantage.”

Click here to read our blog, AI Trends in the Property Industry – Staying Ahead in 2024.

( https://vacentral.co.uk/ai-trends-in-the-property-industry-staying-ahead-in-2024/ )

Estate Agencies

The Ultimate Digital Toolkit

August 22, 2024

To align with the typical property buyer’s journey, which often begins with online searches for suitable properties, digital transformation has become essential in the UK estate agency industry. More than seamlessly reaching prospective clients, the rise of the digital era has allowed Estate Agencies to cut back on expenses, increase their efficiency by automating and streamlining processes, and improve on data security.

In addition to a quality CRM system, what are the essential digital tools that Estate Agencies can employ to generate leads, enhance and streamline their operations and improve their ‘client experience’?

Here are our top five must-have digital tools for Estate Agents:

  1. Online project management

Project management software, like Trello or Asana, is designed to help companies and individuals track projects, tasks and schedules. The key value of this kind of software is its ability to bring structure to business operations. The software should be easy to use, with a logical interface. Choose software that can integrate seamlessly with other IT systems you use, such as your CRM software. The ideal software will have the facility to grow with your business and be adaptable to changing needs.

  1. Customer service integration

A chatbot is an entirely digital Virtual Assistant that can handle client inquiries, simulating conversation and answering questions, with the benefit of being on duty 24/7.  For Estate Agents, this can mean answering questions about buying or selling properties or the sales process using artificial intelligence or pre-defined conversation scripts. Integrating your chatbot with your CRM (managed by your human Virtual Assistant) can enable seamless and consistent communication with customers across multiple channels, which include website, mobile, email and social media, etc. This integration allows the chatbot to access and update the customer data stored in your CRM system seamlessly.

  1. Social media content creation

Social media is an indispensable tool for modern estate agents. Platforms like Facebook, Instagram, and LinkedIn provide opportunities to generate leads, engage with clients and share listings. High-quality content has the potential to drive traffic, increase conversions, and build brand awareness. Online graphic design tools like Canva make creating quality visuals and videos in-house really easy. Canva can be integrated to directly post your designs to messaging apps and social media and messaging platforms like Facebook, Instagram or Pinterest.

  1. Advanced marketing analytics

There are many ways that data is useful to Estate Agents – from determining a suburb’s demographics to a specific property’s sales history to market trends. One very important aspect of data analytics – it is crucial to ensuring the success of digital marketing campaigns, including measuring the performance of social media, digital advertising and a company’s website. These analytics help to determine which areas of your marketing strategy are successful and which areas need more attention, allowing you to invest your marketing budget wisely.

  1. Virtual tour software

Virtual tours can help agents market properties more effectively by providing a more immersive and engaging experience for potential buyers. They offer convenience, flexibility and a 3-D view of a property before ever stepping foot inside it and are seen to be a valuable service for both buyers and sellers. As technology has evolved on the back of the Covid pandemic, the software to produce high-quality 3D tours, 360-degree panoramic views, and even virtual reality experiences have become readily available for Estate Agents to create their own virtual tours in-house. Despite the initial capital outlay required, this is a more cost-efficient approach in the longer term.

What are the benefits of utilising digital tools?

Two of the great benefits of using digital technology to expand and streamline business operations are consistency and accuracy. Here are three more key advantages to investing in the right digital tools:

  • Increased efficiency:Automating saves time and money by streamlining repetitive tasks and improving accuracy. When you automate manual repetitive processes, you free yourself and your team from monotonous job tasks and allow them to focus on more important priorities.
  • Optimal marketing strategies:The customer acquisition cost through digital marketing is lower than traditional marketing strategies mainly because Estate Agents can generate, and nurture leads through free or lower-cost channels like email or social media. This makes cost-effectiveness one of the most prominent advantages of analytics-optimised digital marketing.
  • A competitive edge:Staying updated with the latest digital tools ensures Estate Agents can offer the best service and stay ahead of competitors.

The Estate Agency profession has changed significantly over the years and since Covid, digital technology has played a key role in its transformation. From using online project management tools to support a remote team to using AI enhanced analytics to ensure optimal marketing spend to implementing virtual reality technology for immersive property client viewing experiences, many UK Estate Agents are leveraging the use of cutting-edge digital tools to make their agencies more profitable and add value for their clients. This has given rise to the need to take on people who are technically savvy with specialist experience and know-how in best putting this technology to use.

Estate Agencies

Creating Virtual Tours With the Help of a VA

August 21, 2024

In today’s digital age, virtual tours and property videos have become powerful marketing tools used to showcase properties for sale. These innovative tools have become “must haves” for competitive Estate Agents, helping to enhance property listings and offering a unique way to engage potential buyers both local and those from further afield.

  • Property videos

Property videos can be made up from a combination of video and still photos. They are an effective marketing tool in that they can be used to generate interest from prospective buyers. They are more impactful than still images to emphasise the unique features and benefits of each property. Leveraging property videos saves time in that these allow a potential buyer to get more comprehensive first look at a property without having to schedule an in-person showing.

  • Virtual tours

Virtual property tours allow potential buyers to narrow down their search by experiencing the layout, size and features of a property from their own laptop. They are an ideal way to communicate the dimensions and features of a physical space, allowing an Estate Agent to showcase 3-dimensional indoor and outdoor spaces in a way stills photography cannot accomplish. They also allow clients to better envisage renovations and upgrades as they get a sense of a home’s space and flow. They expand Estate Agents’ reach, allowing them to showcase properties to remote clients. If a prospective client calls to schedule a viewing after seeing your virtual tour, they have already shortlisted the property and have a genuine interest in putting in an offer.

Yes, there is upfront financial outlay to be made when launching into creating virtual property tours. But the return on investment has been proven1 to be well worth it. One way of making the creation of virtual tours more affordable is (rather than using an external service provider) to take on a Virtual Assistant who understands the technical ins and outs of creating property videos and virtual tours. This can greatly enhance your ability to showcase your properties in a more budget efficient way.

Here is how the right Virtual Assistant can be invaluable in creating virtual property tours and videos:

  • They have the right technical know-how

To create effective virtual tours, it is essential to be confident in using the right technology and tools. A good working knowledge of software platforms like CloudPano, My360 and Zillow 3D Home are essential for creating and hosting virtual property tours, ensuring a seamless and engaging experience. It is also important to use high-quality cameras as well as drones to capture detailed indoor and outdoor footage.

  • They have digital marketing expertise

Leveraging virtual tours within their marketing strategy has become essential for Estate Agents who want to stay competitive in the UK property industry. For example, adding a virtual tour feature to a website is a valuable strategy for attracting buyers and showcasing properties. By investing in virtual tour technology and leveraging the support of a Virtual Assistant who is experienced at Digital Marketing, Estate Agents can save money while standing out from the competition, elevating property listings, attracting more potential buyers, and driving sales.

In conclusion

Virtual tours have emerged as a game-changer in the property industry, offering benefits that translate into quicker sales and higher prices for properties, thus saving time and growing turnover while ensuring that clients are more than satisfied with the result. It is this level of service that warrants doubling your commission for offering an elevated service. Taking on a Virtual Assistant who understands the technology and process of creating virtual tours – and how to use them as a part of your marketing strategy – is the most cost-effective way to make the jump into providing virtual tours and property videos and will provide an extra-ordinary return on investment.

1 Harvard Business School:  https://www.hbs.edu/faculty/Pages/item.aspx?num=64371