Text message marketing can help agents to win more instructions

Estate agents can win more instructions by contacting prospective sellers via text message, according to The ValPal Network.

Analysis of data from its MovePal nurture tool shows agencies which contact prospects via text as part of a short-term nurture campaign benefit from an average response rate of up to 32%.

The research, which analysed sales nurture campaigns across 10 regional agencies, also found that the average response rate (including text messages and emails) to long-term nurture campaigns for ‘warm’ and ‘hot’ leads is between 37% and 46%.

The ValPal Network’s study is backed up by additional research from Mobilesquared which suggests that over 99% of all text messages are read by the recipient and up to 90% are read within three minutes of delivery.

“Text messaging is becoming a very powerful marketing medium for estate agents with high response rates which can lead to increased appraisal and instruction numbers,” says Craig Vile, Director of The ValPal Network, which consists of over 1,100 brands with more than 4,000 agency offices across the UK.

“Other communication methods such as phone, email and social media remain effective, but agents can increase results by covering all bases and adapting to current trends.”

Automated nurture saves valuable time for agents

When a prospect replies to a text message from an estate agent, it’s likely that they are a hot lead and it is therefore crucial the agent takes immediate action.

However, for every hot lead there will be prospects who are only just starting their journey and not likely to instruct an agent for weeks or even months.

“Agents may wonder how they will be able to service a huge number of prospects at different parts of the sales process at the same time,” says Vile.

“The answer is to instigate an automated nurture campaign which keeps an agent’s brand front of mind with consumers over a sustained period.”

He adds that with many agents currently focusing on completing transactions ahead of the stamp duty deadline, setting up a nurture programme now can save them time on marketing and help them to build a pipeline of leads for when the stamp duty holiday deadline passes.

Sustained marketing approach delivers the best results

The majority of agents have huge databases of prospects which could be a goldmine of future leads and instructions if managed properly.

“If agents give their own databases some TLC, they have the opportunity to generate leads for a fraction of the cost of other marketing methods,” Vile explains.

“Prospects will be at different stages of the selling process and an automated nurture campaign can help to gradually move people up the sales funnel until they are ready to instruct.”

He says an effective nurture programme ensures that an agency is still in touch with prospects who were originally tentative but eventually become ready to sell their property.

“Providing useful information and advice on a regular basis via email and text message is a sure-fire way for agents to speak to more prospective vendors and get the most out of their existing database,” adds Vile.

“What’s more, with an increasing number of consumers organising a sale outside of traditional working hours, an automated nurture programme allows agents to increase their potential for further instructions even when they are not working.”