YOPA, the fast-growing hybrid online estate agent, is planning a high profile autumn advertising campaign to boost awareness of their service offer, increase market share and drive up leads. The campaign will run across online and offline media, and is expected to attract significant interest and awareness in a growing digital offer in the estate agency business.
The online estate agent is now reported to be seeking a new advertising agency partner to help it achieve its aims, as it seeks to grab a greater slice of the growing digital home-selling market.
The ad campaigns will focus on broader awareness of the benefits of online estate agencies, and persuade customers to try online as a new model for selling, which sees sellers paying a fixed fee at significantly lower prices than percentage commissions.
YOPA describes itself as being a hybrid online estate agent, as its model sees it working with a national network of locally based agents to deliver its business.
Already, YOPA has been successful in securing £16 million of funding from traditional high street agency Savills in June. Savills is keen to position itself more strongly to compete with online estate agent businesses that include Purplebricks, in recognition of a rapidly growing digital market sector.
Some of this funding will be directed towards the new marketing drive, and the initial review will be managed by agency Oystercatchers. Contagious London was appointed by YOPA to manage its creative campaign work last spring. One of these successful campaigns included the ‘new kid on the block’ TV ad which demonstrated how customers needed to only pay £780 to sell their home.
Currently, it is estimated that around five percent of UK properties are sold via an online/hybrid estate agent, but some forecasters suggest that this will grow to 50 percent by 2020.