Avoiding the 'Race to the Bottom'
02/02/24 • 47 min
Want to understand what the premium market means?
In this episode host Rob Brady sits down with David Lindley, CEO of ByDesign, offering listeners a deep dive into the dynamics of the premium property market. In the first segment, they explore David's journey from a family-run business to leading a global network of agents, shedding light on the industry's evolution and the founding of ByDesign.
The focus shifts to the significance of collaborative technology in estate agencies, highlighting the power of a unified system for both independence and national brand advantages. Rob shares insights into the unexpected benefits of this approach, emphasising the importance of belief and collective success in the industry.
Moving forward, they delve into the potential of capturing a 10% market share in the UK's premium property market, discussing the advantages, pitfalls, and strategies for differentiation. The conversation emphasises the need for a specialised, personalised service and a national marketing strategy to thrive in the competitive premium market.
The discussion centres on the challenges estate agencies face when rebranding for the premium market. Rob stresses the importance of a consistent communication strategy and the delivery of a personalised, high-quality service to meet the expectations of clients. Exploring the synergy between personal service and technology in the property industry, highlighting the value of quality over quantity in client interactions.
Looking towards the future, David predicts a split in the market between high-fee, high-service agencies and low-fee, low-service models. Rob emphasises the importance of differentiation and understanding one's value in avoiding the 'race to the bottom' and positioning yourself successfully in the premium market.
The episode serves as a valuable resource for industry professionals looking to navigate the challenges and opportunities inherent in the premium market.
(00:05) Exploring Premium Market
(13:05) Collaborative technology
(18:15) Differentiating in the Premium Market
(23:05) Brand Differentiation and the Premium Market
(32:14) Collaboration and Personal Branding Power
(40:03) The Future
Premium Real Estate, Luxury, Collaboration, CRM, Technol
Discover where you are in your The Estate Agency Business Journey Today!
Answer 26 questions and we’ll show you where you are and how to move forward.
Take our Estate Agent Business Journey Profiler to gain valuable insights on the proven path towards the business of your dreams.
Take The Profiler
Have you ever found yourself wishing that all of your Estate Agency technology was connected in one place?
Iceberg Digital provide the UK's most innovative Estate Agencies with their technology including Lifesycle, the worlds-first estate agency software that combines traditional Estate Agency CRM and marketing software in one platform.
Neuron, offers AI-based websites that put the right message in front of prospects, and Uzair, the industry's number one AI assistant built specifically for the Estate Agency industry, helps you perform long-winded tasks in seconds, making you more productive with your time.
Estate Agency X is a part of Iceberg Digital. Click here to explore more
Want to understand what the premium market means?
In this episode host Rob Brady sits down with David Lindley, CEO of ByDesign, offering listeners a deep dive into the dynamics of the premium property market. In the first segment, they explore David's journey from a family-run business to leading a global network of agents, shedding light on the industry's evolution and the founding of ByDesign.
The focus shifts to the significance of collaborative technology in estate agencies, highlighting the power of a unified system for both independence and national brand advantages. Rob shares insights into the unexpected benefits of this approach, emphasising the importance of belief and collective success in the industry.
Moving forward, they delve into the potential of capturing a 10% market share in the UK's premium property market, discussing the advantages, pitfalls, and strategies for differentiation. The conversation emphasises the need for a specialised, personalised service and a national marketing strategy to thrive in the competitive premium market.
The discussion centres on the challenges estate agencies face when rebranding for the premium market. Rob stresses the importance of a consistent communication strategy and the delivery of a personalised, high-quality service to meet the expectations of clients. Exploring the synergy between personal service and technology in the property industry, highlighting the value of quality over quantity in client interactions.
Looking towards the future, David predicts a split in the market between high-fee, high-service agencies and low-fee, low-service models. Rob emphasises the importance of differentiation and understanding one's value in avoiding the 'race to the bottom' and positioning yourself successfully in the premium market.
The episode serves as a valuable resource for industry professionals looking to navigate the challenges and opportunities inherent in the premium market.
(00:05) Exploring Premium Market
(13:05) Collaborative technology
(18:15) Differentiating in the Premium Market
(23:05) Brand Differentiation and the Premium Market
(32:14) Collaboration and Personal Branding Power
(40:03) The Future
Premium Real Estate, Luxury, Collaboration, CRM, Technol
Discover where you are in your The Estate Agency Business Journey Today!
Answer 26 questions and we’ll show you where you are and how to move forward.
Take our Estate Agent Business Journey Profiler to gain valuable insights on the proven path towards the business of your dreams.
Take The Profiler
Have you ever found yourself wishing that all of your Estate Agency technology was connected in one place?
Iceberg Digital provide the UK's most innovative Estate Agencies with their technology including Lifesycle, the worlds-first estate agency software that combines traditional Estate Agency CRM and marketing software in one platform.
Neuron, offers AI-based websites that put the right message in front of prospects, and Uzair, the industry's number one AI assistant built specifically for the Estate Agency industry, helps you perform long-winded tasks in seconds, making you more productive with your time.
Estate Agency X is a part of Iceberg Digital. Click here to explore more
Previous Episode
Leaflets to Leadership
Ever wondered how delivering leaflets at age 11 could lead to becoming a successful leader?
In this episode, we dive into the journey of well-known and respected Abigail Grey, the driving force behind Grey & Co, Estate & Letting Agents in North West London. Starting with childhood memories of delivering leaflets at age 11, we trace Abigail's evolution into a business leader.
The episode kicks off with an industry award and then reflections on the intersection of motherhood and leadership. Moving into the intricacies of lettings, we explore the importance of being well-informed in customer-facing roles. Abigail shares insights into the distinctions between sales and lettings, emphasising enduring relationships, plus the personal growth journey and responsibilities of moving from a Lettings Manager to a Lettings Director role.
As the podcast unfolds, we touch on the complexities of family business dynamics, unexpected life events, and struggles of accepting a career path. Abigail shares struggles of managing work while coping with impending loss, offering insights into balancing professional responsibilities, grieving, and challenges brought on by pregnancy and maternity leave. The podcast takes an intriguing turn with a transformative phase triggered by a seemingly minor decision to change accountants. This decision sets off a chain reaction of events, leading to new opportunities for growth and learning. Finally, we conclude with a focus on the personal and professional growth experienced by Abigail in recent years.
The discussion centres on the shift from a frantic pace to a more settled life, especially after becoming a mother. Abigail shares insights into finding a new identity, prioritising family, and fostering a supportive work environment that drives the success of her business.
Join us on this open and honest episode as we uncover the evolution of a legacy with Abigail Grey on the Estate Agency X Podcast.
(00:05) Starting and Growing a Family Business
(12:05) Building Long-Term Relationships in Lettings
(16:46) Navigating Personal and Professional Challenges
(22:57) Returning to Work and Making Changes
(29:49) Finding a New Identity
(34:59) Discovering a Real Estate Community
(37:58) Focus on Family and Small Business
Family Business, Real Estate, Lettings, Sales, Emotional Resilie
Discover where you are in your The Estate Agency Business Journey Today!
Answer 26 questions and we’ll show you where you are and how to move forward.
Take our Estate Agent Business Journey Profiler to gain valuable insights on the proven path towards the business of your dreams.
Take The Profiler
Have you ever found yourself wishing that all of your Estate Agency technology was connected in one place?
Iceberg Digital provide the UK's most innovative Estate Agencies with their technology including Lifesycle, the worlds-first estate agency software that combines traditional Estate Agency CRM and marketing software in one platform.
Neuron, offers AI-based websites that put the right message in front of prospects, and Uzair, the industry's number one AI assistant built specifically for the Estate Agency industry, helps you perform long-winded tasks in seconds, making you more productive with your time.
Estate Agency X is a part of Iceberg Digital. Click here to explore more
Next Episode
Beyond The CV | Empathy, Diversity & Recruitment
How can personal milestones and industry changes inspire innovative business strategies and a people-centric approach to recruitment in the estate agency sector?
In this episode, we embark on a journey with Nicola Broomham, a seasoned estate agency recruitment professional and chair of Women in Residential Property. Nicola shares her remarkable story, from her beginnings at Romans to navigating the challenges of motherhood and reshaping her career to champion inclusivity in the workplace.
Join us as we delve into the importance of gender diversity in the residential property sector, exploring Nicola's dual mission with Women in Residential Property: providing support for women and advocating for gender equality in the industry. We uncover the transformative power of empathy and understanding, shedding light on the necessity for inclusive networks and cultural movements that celebrate underrepresented groups.
We also explore the critical topic of flexible working and its impact on career advancement, particularly for women. Through Nicola's insights, we examine the benefits of innovative workplace cultures and diverse teams, emphasising the need for personalised recruitment strategies and adaptable job opportunities.
Tune in to this empowering episode for a discussion on the evolving landscape of the estate agency and how we can all contribute to a more inclusive future.
(07:49) Women's Challenges in Residential Property
(16:20) Flexible Working and Gender Diversity
(21:55) Empowering Women, Diversity, and Flexible Work
(28:15) Improving Recruitment and HR Strategies
(38:40) Improving Customer Experience in Estate Agency
Estate Agency, Motherhood, Industry Revolution, Inclusivity, Support, Recruitment, Women, Gender Diversity, Challenges, Cultural Movements, Visibility, Empathy, Understanding, Professional Environments, Flexibility, Maternity Leave, Career Impact, Workplace Dynamics, Talent Loss, Inclusivity, Diversity, Recruitment Strategy, HR Strategies, Customer Experience, Technology, Human Interaction, Prompt Responses, Customer Service, Training, Workplace Improvement, Podcast Subscription
Discover where you are in your The Estate Agency Business Journey Today!
Answer 26 questions and we’ll show you where you are and how to move forward.
Take our Estate Agent Business Journey Profiler to gain valuable insights on the proven path towards the business of your dreams.
Take The Profiler
Have you ever found yourself wishing that all of your Estate Agency technology was connected in one place?
Iceberg Digital provide the UK's most innovative Estate Agencies with their technology including Lifesycle, the worlds-first estate agency software that combines traditional Estate Agency CRM and marketing software in one platform.
Neuron, offers AI-based websites that put the right message in front of prospects, and Uzair, the industry's number one AI assistant built specifically for the Estate Agency industry, helps you perform long-winded tasks in seconds, making you more productive with your time.
Estate Agency X is a part of Iceberg Digital. Click here to explore more
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