Are Online Property Portals Still Worth it?
  

Are Online Property Portals Still Worth it?

 
 

SUMMARY

Are online property portals still worth it?

A lot of agents are complaining that online property portals have been increasing their fees.

They're charging higher and higher fees, higher subscription and the results from online property portals have been decreasing.

Is  getting an account there, getting a subscription from portals like property guru.com or any other property portal out there still worth it in 2020?

The NO BS Truth

The first time when the property portals first started coming up  five to ten years ago, agents loved it.

And suddenly this love affair was all over too soon.

Because suddenly they started charging huge fees and they started quadrupling their fees year after year after year.

And agents got frustrated.

So let me tell you something about property portals; they are a business.

Online property portals are not your friends.

They are advertisers.

They have a platform and they are not your friend. The only people that they care about is themselves.

They own the platform and the platform is where everybody goes to to search for a property.

It wasn't always like this

Before all the property portals came up, how people searched for a property in the olden days is that:

  • they go to a shop
  • they buy a newspaper or they have a paper dropped at their house
  • then they open it
  • they flip through the pages and
  • then they look for the property that they want right

That all changed the day the internet was born.

Maybe 10 years ago in 2009, 2008, that's when we started seeing a lot of new property portals which started coming up and the race for online property portals intensified.

Let me tell you something about property portals; they are something like facebook, twitter or myspace; essentially they are just a platform.

The listings agents post on PropertyGuru don't even belong to them.

The buyers or sellers who are searching on google find the relevant listing and then that's how they land  on the property portal and that's how agents get inquiries coming in and they get business and they close deals.

Typically that's how it works.

Property portals are just a business and they want to make money.

How do they make money?

The first thing they do is to make the portal get mass adoption.

They do this in stages:

  1. Free for all
  2. Build momentum
  3. Start Charging Agents
  4. Raise fees

The first stage is to get everyone.  they make it free for everyone to create an account.

And suddenly there's a flood of agents joining their portal. More agents come in and create listings  and suddenly boom!

The entire property portal is full of content without them even doing anything!

They got agents to do all the work!

So, they're hardly your friends!

Here's the thing; They're traffic you can control.

You don't own property guru or any other portal. You can only direct their traffic to your smartphone or your website or whatsapp.

You cannot be always dependent on them.

Because you never know when they will triple their fees or decide to kick you out.

You're essentially at THEIR mercy.

Dan Kennedy said the worst business is the one that relies on traffic of ONE. Meaning, if you're overly dependent on online property portals, you'll suffer one day.

The question is, why set yourself up for failure?

Here's the good news.

There's something far better than online portals.

And that's traffic that YOU Own.

Traffic that you own

This the BEST kind of traffic out there. In fact, it's better than all property portals combined.

This is your own distribution list. Your own database. Your own prospects and customers.

You already have a relationship with them.

You can email them anytime. You can send them any of your listings any time.

The trick is to get started and start building relationships with them.

Dig your well before you're thirsty.

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Yasser Khan is a real estate coach, speaker, and trainer at YasserKhan.SG who teaches Realtors how to make more Money, have more Time and enjoy more Freedom without all the B.S.

 
 

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