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Digital technology has positive impact on the property industry

POSTED ON 15 MARCH 2017

Ever wondered what the property market would be like without social media and without any significant online presence? Frankly, we can’t imagine that scenario at all!

Technology, and especially its development, has somewhat defined the modern age in which we live. Almost everything we do is now determined by technology in some way. The evolution of technology has demanded of most industries an equally fast growth and, in turn, significant innovation in the way they operate and serve their customers. There are certain industries who fundamentally rely on technology in order to be what and who they are, whereas other industries are greatly enhanced by technological advancement – and the property industry is certainly one of those.

Twenty years ago, this industry was a very different place. Back in 1997 the average house price in the UK was just over £60,000. Today, it’s more than double that figure. House price inflation was at its highest percentage in 2004 with over 25%, and at its lowest in 2010 with minus 15%, so the industry has undergone a dramatic evolution over the past two decades.

Perhaps one of the biggest reasons why the property market has become so much more demanding and competitive in recent times is because of the developments of technological capabilities encouraging a generally faster-paced industry with regards to its operations. Legislation is clearly one of the main areas which has inevitably been affected by this change of attitude. New rules have recently been enforced focusing upon the agreements between the landlord and tenant. As from February last year, landlords are now required to carry out checks to ensure potential tenants have the right to rent property in the UK. The bigger and more demanding the industry becomes, the more it is required to enforce tighter legislation such as this.

Affiliates to the relentless influential power technology places upon the professional world are social media platforms. Social media has become the easiest way for businesses to connect with their audience and gain popularity. So dominant is social media today, that for businesses it’s pretty much a necessity that it’s utilised. Over 50% of the world’s population is 30 years old or younger, and 96% of these individuals have joined an online social network.

Having achieved 50 million users in its first three and a half years, Facebook continues to rise as the most commonly used social media channel today. But it’s not just Facebook that’s growing in popularity: it’s social media in general. One of the main motivations and drivers for this growth is the increase in the amount of devices the average person owns. It is estimated that in the year 2020 there will be 6.58 devices per person in the UK.

So, why exactly is social media so important to the property industry, and how has it improved it? Well, overall, over 82% of property video views, for example, are discovered via traffic or navigation within a brand’s own site. External sources of traffic, on the other hand, are led by Google, followed closely by Facebook and Yahoo! Facebook, however, is consistently the fastest growing external source of views, with users today sharing over one million links every twenty minutes. With such heavy and constant activity as this, social media is the ideal tool to use to drive traffic.

Microsites is just one area within an array of products and services we offer our customers. From campaigns and client testimonials, without social media we wouldn’t have nearly as much success with making you aware of these amazing products that make it much easier to buy, sell, rent and let. The expansion of multimedia technology over the past twenty years has allowed us to develop a host of different digital marketing capabilities.

Nevertheless, the traditional method of email is still highly predominant in the property industry for communication with our customers, which is why we utilise this tool as most can access these via mobile and tablet devices.
We also offer personalised property websites, which are versatile enough to accommodate for the vendors, the applicants and buyers alike. Featuring OFSTED reports, personalised questionnaires, and much more, these are a perfect way for you to share the property you’re involved with online with your family and friends. In fact, it has been statistically proven that video property marketing is 48% more effective than more conventional approaches. Therefore, professional walkthrough videos have been a major catalyst for this leap forward in online estate agency marketing in recent times.

Our TV websites are a brilliant testament to this, with a stream of videos not only showcasing our collection of properties but also providing details about corporate services and the geographical area they serve.

It is clear to see just how the property industry, and particularly property marketing, has improved and become so much more efficient over the past twenty years. However, we know that nothing is more important than your own move… and evidently no one is better equipped than us to help you with that very thing.

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