Metropix increases its market shareAgents up and down the country may be shedding staff and counting the paperclips, but one thing they apparently aren’t cutting down on is the use of floorplans and other advanced marketing tools, according to Metropix, the UK’s leading supplier of property visualization systems.
“While our users – like any other agents - are tightening their belts and cutting costs as far as they can, we haven’t seen any appreciable fall in take-up of our products,” says Metropix’s Brian Farrell. November and December business levels were broadly the same as in 2007, he said, while October saw a remarkable 10% increase over the same month the previous year.
Equally gratifying, he adds, is the fact that Metropix – already far and away the largest supplier to the industry of floorplans and associated 3D technologies such as computer-generated walkthroughs – has substantially increased its market share over the past 12 months. “Reports suggest that there has been something like a 20% decline in the number of agents over this period, yet we are still doing broadly the same volume of business, and in some areas seeing increases, in what is effectively a significantly smaller market,” he says.
So what’s going on here? “Even when times are tough, impactful but highly cost-effective marketing is always going to be the very last thing agents cut back on, and that – plus exceptional ease of use - is precisely what the Metropix product range delivers,” says Brian.
Differentiation is also key, he suggests. “Whatever the state of the market, agents need a clear point of difference between the service they offer and that of their competitors.” Significantly, he adds, Metropix have seen a notable increase in take-up of their products in recent months by established lettings agents, keen to differentiate themselves in the face of increased competition from sales agents moving in on their territory.
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