Not enough to be on one portal (even if it is Rightmove), says survey
Wednesday 16th December 2009
The average estate agency office advertises on three of the major portals, whilst 6.9% do not advertise on any of the top portals at all. A new survey by property search engine Home looked at the online advertising of 14,660 estate agent offices across the UK, on the 11 largest portals.
These were, in order, Rightmove, Zoopla, Primelocation, FindaProperty, Fish4, Homes24, Propertylive, Mouseprice, Look4aproperty, Propertyindex and Property Today.
The survey found that 13,664 agents (93% of those surveyed) advertise on at least one of these portals. Rightmove and Zoopla carry properties for 70% and 49% of the agent offices respectively.
One estate agent, in Kent, advertises on ten of the portals, but one in five agents only advertises on only one major portal and one in 14 agents advertises on none of them.
Further analysis shows that the agents that advertise the most widely have by far the lowest Time on Market figures.
Agents with the best sales turnover rates are those that advertise their clients’ properties on seven or more of the major portals.
Typical Time on Market figures show that properties listed for sale at branches which advertise on seven or more portals remain on the books for 56 fewer days (31% less marketing time) than those at agents that only advertise on one of the major portals.
Doug Shephard, business development director at Home, said the survey showed that just being on Rightmove is not enough to give agents the best property sales turnover.
“As we’ve being saying time and time again, agents really need to consider reach when planning their online advertising campaigns. More portals equals greater reach and a much faster sales turnover.
“Moreover, prospective vendors can easily find how widely an agent advertises online and this encourages more instructions.
“These startling figures clearly indicate that agents can reinvigorate their businesses by advertising more widely.”
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Editorial Contact Details - Rosalind Renshaw