Ask the Expert
Answered by Andy Pounsberry, Director at Woods – Property Sharing Expert estate agency.
Q. Is it more important that my estate agent advertises online or in the local newspaper?
A. Actually, they’re both equally important.
It’s reported that over 80% of all potential buyers start their property search online, so this form of advertising is essential. The latest ONS (Office for National Statistics) figures reveal that 83% of all households in Great Britain have Internet access and nearly 36 million adults (73%) access the Internet every day, so it’s no surprise that property portals such as Rightmove, the largest in the UK, attract millions of visits every month.
However, there are 17% of households without Internet access, and even Rightmove only features around 90% of all homes for sale with estate agents. So, to reach all potential buyers, agents need to use a mix of online and traditional media.
Also, a great number of serious buyers looking in specific geographical areas still buy the local newspapers and visit the local estate agency offices. Local newspapers carry advertising from local estate agents featuring local properties for sale, giving buyers a concentrated snapshot of what’s for sale in the specific area they want.
Furthermore, the Internet only knows when a property is actually on the market. When the valuation has been done, the vendor has agreed to sell and the agent has prepared the particulars and pressed the ‘go’ button. By registering and establishing a rapport with local estate agents, buyers can be made aware of properties coming to the market before they hit the Internet.
After all, a good estate agent matches property to buyers and if they know what their registered buyers want, the buyers are more likely to find their dream home more quickly. And the vendor gets a quick sale. It’s a win:win situation for everyone involved.