MARKETING
networks and the MLS or referrals led networks. Mayfair Office, says Nick Churton, “loves referrals, but was set up originally as a source of national marketing expertise and London presence, not as a referrals network.” Many high end properties need to be marketed over a wide area; while buyers of mid market properties often look only within a 3 or 4 mile radius, buyers of £1m plus properties will often look across a number of counties. “We’ve always been positioned as a
London office, a source of media expertise,” Churton says. He believes Mayfair Office’s London PR focus really helps its members get their best inventory into the news. Mayfair Office has frequent contact with property journalists and has a great fund of inventory to publicise. “We hold our own against the powerhouses of PR,” he says. In addition, it can secure much better rates for national advertising than its members could separately – a tangible benefit. In addition, Mayfair Office is able to
team up specialists in different markets to help them win more business. For instance, a recent partnership saw one agent in the network that was highly focused on land sales, teamed up with an equestrian specialist to value a horse jumping yard in their area. Without access to that expertise, the agent probably would not have won the instruction. “We have to tailor what we do to our
member firms,” Nick Churton says. “Every firm is different and every town is different. We are not a supermarket, we are more bespoke.” Mayfair Office members sport a discreet Mayfair Office logo, but otherwise retain their own branding and operate as complete independents. Team is a strong brand for independent
agencies with its 300 offices, but agents aren’t merely buying into the brand – which is generally more prominent in their marketing than Mayfair Office’s. They also get a package which includes alternative revenue streams through Team Property Services, and a Multiple Listing Service (MLS) which operates through Team’s proprietary software. Neil Parsons says “It’s like a regular MLS – sharing the listing between agents - but for a sole agency fee,” giving vendors the benefits of multiple listing without the costs. Because all the properties in the UK can
be accessed from any Team branch, if a customer is relocating to a different area, they can get property listings from their destination area through the same branch
INEA now has 1400 overseas
properties listed (in France, Cyprus, and Spain), while Mayfair Office has 150 offices overseas, and 8,000 properties.”
We’re positioned as a London office, a source
of media expertise.” NICK CHURTON MayfaIR OffICe
they use to sell their existing home. “Because we share instructions,”
Neil Parsons says, “you’re getting fresh instructions from your fellow agents all the time.” The software (a new cloud based version of which will be launched later this year) links agents automatically and delivers inventory. While Team offers a brand and a number
of services, INEA is a pure MLS, according to its CEO, Trevor Mealham. He believes “the portals have done a fantastic job of making agents fall out and not work together,” since their software doesn’t allow property commissions to be shared. By creating an additional data layer on top of the Rightmove feed, INEA allows agents to share their listings and commissions. Unlike Team, which has standard terms
for commission sharing, with INEA, agents can choose how much commission they want to share. They can also choose which agents they want to share with, within their network.
“You build a network around you,”
Mealham says; “you choose which agents you want to share with.” The idea is to create small clusters; several agents with 30 listings each can add up to 120 listings in a small local group. He points out that showing that increased number of properties on each agent’s web site also helps get better rankings with the search engines, attracting more viewers. One cluster of agents around
Canterbury, Hythe, and Folkestone have been working together for some time, and according to Mealham, “It is now getting one agent more qualified viewers than Findaproperty.” Neil Parsons too is a believer in agents
working together. “Sharing is coming back into favour,” he says. Delivering UK inventory works well –
but some of these networks can also add overseas properties to an agent’s product. INEA now has 1400 overseas properties listed (in France, Cyprus, and Spain), while Mayfair Office has 150 offices overseas, and 8,000 properties (many in the Caribbean).
COsTs aNd CONsIdeRaTIONs The costs of the different networks vary. At one end, INEA charges £25 a month – though is has said it will increase this once the number of members gets to 800. Team, on the other hand, has a fee of several hundred pounds a month; Neil Parsons pays £920 for his two offices, including VAT, which covers the software rental together with a contribution towards the consortium’s marketing costs. (Costs different according to which regional consortium a member belongs to.) “It’s a bit like a franchise payment,” he says, “but we don’t take a royalty percentage off the top.” And there are no up front fees – unlike a franchise. Agents may not find they’re able to join
whichever network they like. While INEA eschews overt selection – instead, its membership spreads virally as members choose other agents they would like to join, a bit like Facebook – other networks are choosier. At Team, for instance, NAEA or RICS membership is required. Neil Parsons says “members need to be of good
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