TECHNOLOGY New Facebook App revolutionises marketing
Social Media is the sixth biggest lead generator for business, well above telemarketing or printed media. Given its effectiveness and low cost, it is a vital tool but many agents aren’t sure how they can effectively use Social Media, and are daunted by the prospect of constantly providing updates. PropertyPage (http://apps.
facebook.com/propertypage) is a revolutionary new Facebook app for estate agency marketing that helps to increase brand awareness and generate enquiries. Users can search the agent’s properties, arrange viewings and request valuations, all through their own Facebook Page. Users can also like and share
properties, exposing your instructions and brand to thousands of Facebook users, increasing traffic and building social networking presence.
RENTS Seasonal trend sees rents in London drop
The average cost of renting a home in London dropped in October – dipping for
the first time in 2011, according tothe latest HomeLet Rental Index. Rental amounts in the city
fell for two consecutive months by nearly four per cent, to an average of £1,158 per month. However the cost of living in
a rented home in London is still nearly 9 per cent higher than the same time last year, and a massive 23 per cent more than in October 2009. The average cost of renting
a UK home also reduced by 2.5 per cent to £763, four per cent up on last year. So though the amount has lowered, tenants are still paying more. Only two UK regions saw an
increase in average rents. Wales and East Anglia saw average rents go up by 3.4 per cent and 1 per cent, while in Scotland rents dropped by 7.5 per cent to £547. John Boyle, MD of HomeLet, said, “We do normally see a seasonal dip in actual rental prices at this time of year due to the amount of students being referenced for higher
value shared properties. “At a first glance the drop in
rents would appear to be good news for tenants, however, when we see how expensive it is to live in a rented property compared to last year, we see
how demand for homes has increased over the year. “If rental amounts increase as much in early 2012, renting may be unaffordable for an increasing number of people, particularly in London.”
places the power in the hands of the user, rather than pushing commercial content to the user, which isn’t an effective way of utilising social media, PropertyPage allows users to search and share properties on their own terms, only viewing and engaging with content that is relevant to them and their friends, which is the basis of all effective social media use. PropertyPage was developed by
PropertyPage™ aims to create social media direction by keeping the agent’s page relevant, automatically updating so all properties can be accessed as soon as they become available. It also
Webdadi, specialists in websites, software, mobile solutions, IT and SEO Consultancy, and Social Media solutions for the estate agency sector. Their expertise in property marketing and IT helped them develop a solution which utilised the world of social media, whilst ensuring it was placed in the context of the property marketing sector to be of real benefit to estate agents.
SOFTWARE
Accounting: don’t skimp on best practice
Poor client accounting practices can cost agents time, money and considerable difficulty
with clients according to CML Software. Agents that skip good client accounting practices such as using a ‘double-entry’ bookkeeping system, maintaining properly separated client bank accounts, performing regular client cashbook and bank reconciliations will have difficulty satisfying their clients, the regulatory authorities and their own business management team that they are proper custodians of client’s money. Robert Horsford, MD of CML
Software says agents should strive for business excellence in client accounting, “It reduces business risk, leads to happier clients and staff and ultimately to reduced costs and increased business value. Agents should not treat the client accounting function as a back office, low priority, non-fee earning necessity, as its success or failure can have a significant impact on the broader business. “Many firms are not helped by
systems which do not assist in the reconciliation and reporting process. Worse still, some systems don’t maintain accounting integrity via a ‘double-entry’ accounting ledger. Every accounting entry has two impacts which need to be recorded. Reconciliation work can be repetitive and time consuming, so it essential that your client accounting system assists your accounts team.” Golden rules: protecting client monies, regular bank reconciliation and ‘three-way’ reconciliation. Present such a document to your RICS or ARLA auditor and watch the smile break out. In one line, the three-way reconciliation reconciles your client ledger to your cashbook and then your cashbook to your bank statement.
www.cmlsoftware.com
PROPERTYdrum DECEMBER 2011 7
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