Posted in Case Studies
Client Spotlight – RateMyAgent
Established in 2014, RateMyAgent has grown to become the no. 1 real estate ratings and statistics website in Australia. In 2015 alone, close to $8bn in real estate has been transacted with the help of RateMyAgent and not a dollar of commission has been charged to agents.
Forging a unique identity in a crowded market
With a focus outside of the traditional listing portal market, RateMyAgent turned their attention to the consumer with a desire to help vendors cut through the clutter of estate agents who all make the same claim, “I’m the best agent, I sell the most property”, says CEO of RateMyAgent, Mark Armstrong.
With RateMyAgent, agents have a powerful self-promotion tool and consumers have the ability to rate their experience with estate agents. This unique positioning has seen over 18,000 actively adopt agent profiles, 3,100 agencies sign up for profiles and most significantly, over 120,000 vendors reviews submitted to the site since launch.
Securing the support of an industry
Without the exorbitant marketing and ad war chests of the industry’s heavyweights, RateMyAgent had to think outside the box. With a collective 30 years of experience in the property market, co-founders of RateMyAgent, Mark Armstrong, Xavier Perronnet and Ed van Roosendaal, called upon their networks to spread the word of their impending release.
“We built our service around the agent community so we’d have their support as soon as we launched. We felt strongly that agents would promote us as soon as they saw the value in our service”, says Mark Armstrong. He added, “All the good agents bought into the transparency that we provided the market and the rest of the agent community followed suit”.
Initially reaching out to the top agents in each state across the country, RateMyAgent employed a top down approach to secure the support of the agent community.
Delivering value to the vendor
An internal survey from RateMyAgent revealed that 20% of vendors who posted a review on the site say they used RateMyAgent to help them choose their real estate agent. “Many people distrust agents and client reviews are one way of choosing and cutting through what vendors see as the usual agent spin”, says CEO of RateMyAgent, Mark Armstrong.
In two years since launch, RateMyAgent has grown to become the no. 1 real estate ratings and statistics website in Australia and the ultimate vendor’s companion to research, select and find the right agent to sell their property.
Digital strategy underpins success
To complement the efforts in securing the buy-in and interest of real estate agents, Scorch was enlisted to raise RMA’s digital profile and provide strategic SEO consultation on how the website could best be harnessed to compete against other more established real estate portals in search results.
The two-prong approach focused on optimising RateMyAgent’s digital assets, and a sustained drive to raise awareness in the market through digital PR, influencer marketing and social media marketing activities.
The holistic approach to SEO and Digital PR resulted in sustained success, netting RMA an increase in organic search traffic by approximately 160% compared to the previous year within 5 months.