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State of the Property Nation 2020
Chapter 02
The tech effect
2Introduction
Welcome to the State of the Make sure you’re signed up to get
Property Nation 2020. notified as chapters are published,
and we’d love to hear from you –
We surveyed more than 6,000 follow us on LinkedIn to be a part
renters and buyers, and 675 letting of the conversation.
and estate agents*, to generate a
holistic view of the UK market.
In this chapter we’re talking
digital. Where do agents see
opportunities for digital growth?
And just how integral are portals
and apps to agent and consumer
mindsets?
*State of the Property Nation research was conducted in November 2019.
3Part 1: Growth in digital marketing
ambitions among agents
Estate and letting agents are unified There is some evidence that agents’
in their priorities for driving lead social media priorities match
generation. For both segments, consumer trends. Some 12% of
growing their use of technology browsers now use Facebook for
is second only to increasing property searching – up from 8%
marketing activity – and inevitably a year ago.
the two overlap.
Similarly, nearly 1 in 10 (7%) of
In terms of technology, nearly two- those we surveyed now do the
thirds (65%) of those surveyed are same on Instagram – still a small
keen to harness social media to number, but one that has nearly
promote listings. Over half (53%) doubled in a year.
are also looking to boost their
digital and email marketing
credentials.
4Actions likely to be taken (estate agents)
Do more marketing 35%
Increase use of technology 33%
Provide more advice on maximising sale / rental price 27%
Act more as consultants 26%
Provide more flexible fee structure 21%
Provide more transparent service 20%
Increase negotiation skills 18%
Offer more services 18%
Increase our fees 10%
Have fewer people working here 9%
Lobby for legislation changes 8%
Lower our fees 7%
Launch a hybrid option 5%
Make branch closures 5%
Increase use of portals 4%
Move into rentals / sales too 4%
Actions likely to be taken (letting agents)
Increase our fees 38%
Do more marketing 37%
Increase our use of technology 29%
Act more as consultants, offering a more personalised service 27%
Increase our negotiation skills to win bigger property portfolios 23%
Offer more services e.g. landlord services 22%
Provide a more flexible fee structure 22%
Provide more advice to customers on how to maximise rental value 18%
Provide a more a transparent service 17%
Have fewer people working here 16%
Move into other lettings areas 10%
Increase our use of portals 8%
Lower our fees 6%
Lobby for legislation changes 6%
Move from the high street to decrease rent 5%
Have longer opening hours 5%
Move into sales too 5%
Make branch closure(s) 5%
Launch an online only or hybrid option 4%
5Technology agents will use more
Social media 65%
Digital marketing e.g. email marketing 53%
E-signing functionalities 40%
Software to manage customer information and relationships 39%
Property management software e.g. to manage
33%
new lettings, for tenancy renewals etc
Software to support with document admin 33%
Creation / optimisation of business website 33%
WhatsApp or similar with customers / prospects 27%
Use of AI chat bots on website 12%
6Part 2: Consumers and agents share
views on portals
Agents affirmed that portal Property portals, such as Zoopla,
presence was important to them. are firmly implanted in the
Of the agents we spoke to, nearly consumer mindset, with more than
six out of ten (59%) said it was their three-quarters of respondents
primary marketing priority, with (77%) using them to browse,
a further 25% saying it was in and nearly half going further and
their top three priorities. actively receiving property alerts
from a portal.
And the emphasis on portal
presence is working – with nearly
half (48%) of landlord and seller
leads, and nearly two-thirds (65%)
of renter and buyer leads coming in
through the portal route, according
to those surveyed.
Where consumers look at property and keep an eye on the market
47% 30%
Property portals 77% receive once a
alerts week +
Agents (on the high street
51%
or on their websites)
Newspapers or magazines 21%
Property programmes 10%
Social media 17%
7Platforms on which consumers most recently looked for property
40%
Property portals 36%
32%
Websites of high street agents 38%
28%
Estate / letting agent windows 41%
26%
Google search 24%
16%
Local newspapers 25%
12%
Facebook 8%
7%
Instagram 4%
7%
Driving around looking for boards 11%
4%
National newspapers 5%
2019 2018
Importance of marketing activities
84%
Property portals 59%
66%
Our agency website 15%
Our Facebook page and other 36%
social media channels 6%
Local below the line advertising 29%
(canvassing) 5%
26%
Display advertising 3%
23%
Paid search (e.g. Google AdWords) 5%
Local above the line advertising (radio, local paper, 15%
bus stop ads, billboards, sponsorships etc) 4%
13%
Paid Facebook advertising 2%
Paid Instagram advertising 3%
Paid Twitter 1%
Ranking 1,2,3 Ranking 1st
8The majority of leads are coming from the portals
Proportion of seller / landlord leads Proportion of buyer / renter leads
17% 14%
25%
17%
10%
65% 10%
48%
Via portals Direct (via online enquiry) Direct (via phone or through the door enquiry) Other
9Part 3: Apps a key part of ‘upsizer’
browsing behaviour
Property apps have matured buying a larger home) are the
to become an integral part of the ones driving app use, with 44%
property browsing experience. having a property app installed.
A fifth (20%) of consumers we The Zoopla app saw 1.4 million
polled have a property app on downloads across 2019 and session
a device, whether they’re active length is increasing year-on-
in the market or not – and they’re year. This seems to demonstrate
using them on average 4.8 times consumer appetite for lengthy,
per week. regular in-app browsing.
Of buyers active in the market,
‘upsizers’ (those selling up and
Percentage who have property app on phone/tablet
Total 20%
Active seller 43%
Active buyer 44%
Active landlord 52%
Active renter 39%
NET: All active 41%
NET: All browsing for next 2 years 28%
NET: All browsing for long term 20%
Out of market 4%
Monitoring market 30%
First time buyer 27%
Upsizer 44%
Downsizer 35%
10Conclusion
People are spending increasing All of this motivates us to drive
amounts of time in a variety of meaningful digital innovation for
digital environments. our agent partners and consumers,
through products such as AdReach
And the property industry is and Zoopla Valuation Tool.
reacting to this. Boosting digital
marketing and social media These products will help bolster
capabilities is climbing up the agents’ digital strategies and
priority list for agents. ultimately the number of leads
coming in through these routes.
We also found increased evidence
of portal prioritisation among
them. A clear majority of renter
and buyer leads – and a sizeable
chunk of seller and landlord leads –
are now driven directly by portals.
On the consumer side, property
apps are now a mainstay on mobile
devices. And these consumers are
using them several times a week –
whether they’re in-market or not.
Of those committed to buying,
‘upsizers’ are most likely to use
property apps as part of their
buying journey.
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