We speak to Andrew Potter of My Online Estate Agent, Interview by David Fowle, Angels Media
What is your background Tell us a little bit about yourself.
I originally worked in finance and was based in the city for 8 years. Never one to be satisfied by working for other people and having always had an interest in property, I went ahead and began financing a few small development projects. While busy I ended up dealing with estate agents on a regular basis. I began questioning what they really did to justify their fees. After consulting with friends in the estate agent industry and doing some researching, myself and co owner Michael James partnered with an internet marketing company to set up My Online Estate Agent.
Describe your business in a few short words
My Online Estate Agent, as the name suggests is an online estate agent. We have come up with a unique and comprehensive estate agent service that we offer to our clients at a fraction of what traditional estate agents will charge. We feel there is clearly a place for online estate agents in the market.
When did you launch the business
Our website went live in 2010, however we did not launch the full online estate agency business until May 2012. We decided to partner with an internet marketing company which meant we would have in house search engine optimisation specialists. The reason for this was that we wanted to build up a steady flow of traffic to our site before actually launching.
Why should clients choose 'My Online Agent'
One of our greatest assets is that we are a national estate agency. We offer a wide range of packages to meet the needs of both sellers and landlords. Our prices are fair and very competitive - far lower than what traditional estate agents would charge. Our mission to to deliver outstanding service. We believe that feedback and recommendations are key to the growth of any business.
Name your 3 most unique selling points
Our fees are very low and if we don't sell a property in the first 6 months we don't make any profit.
We are constantly reviewing our systems, updating technology and implementing innovative thinking to improve service.
We are constantly striving to achieve the best balance between utilising the latest technology and providing excellent cutomer service
How would you say you overcome competition
Although My Online Estate Agent offers a very comprehensive service, we are still one of the cheapest. Since we get charged per property by sites such as Rightmove, and also given that our fees are low, we have a big incentive to sell properties or we don't make any money!
How do you create value for your clients
All employees at My Online Estate Agent have an invested interest in the company, hence they are very incentivised for the company to grow. This means delivering a high quality service. We often work well past the office closing hours of 8pm. Selling a property keeps our portal costs down. If we keep our customers happy we get good reviews and feedback this ultimately helps our business to grow and expand.
What would say has been your greatest achievement so far
To be honest, there isn't one that stands out. Receiving great feedback from customers is always an achievement for us, as it makes us feel like we are providing a valuable service. This is especially great if the feedback is from customers who were initially a bit sceptical about using an online estate agent.
What is the key becoming successful in this industry
Personally we feel one has to be very driven and determined, set goals and targets for yourself and the company. One also constantly has to review customer service and strategise on improving on a consistent basis. Customer satisfaction is by far the most important aspect to any business, one should never forget lose sight of that.
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