Both are valuable tools for a real estate agent, these two types of automated emails serve distinct purposes. Understanding their differences helps you provide the right information to the right client at the right time.
A Property Watch is a system designed to help potential buyers find their next home.
Target Audience: Primarily buyers.
Purpose: To inform clients about new or updated listings that fit their specific search criteria. The goal is to quicky and automatically help keep them informed on properties that meet their search criteria.
Content: The emails contain a list of listings that match the client's preferences, such as price range, number of bedrooms, location, square footage, and property type. They may also include updates on properties the client has already expressed interest in, such as a price reduction.
Timing: These emails are often sent frequently, like daily or even instantly on a listing status change, because the market is fast-paced and a new, ideal listing could be a hot commodity. The urgency is to get the client in to see the property before a competing offer comes in.
For the Client: Easily view and save the listings that catch their eye. Clients even have the option of creating their own Property Watch on your website, encouraging them to search for properties, where you are always visible and stay top of mind.
For the Agent: Agents can track anytime a client opens an email or saves a property. This activity gives us a clear understanding of a client's interest, so we can provide the best possible service.
A Market Watch is a broader tool used for lead nurturing and establishing you as a local expert.
Primary Goal: Build brand authority and nurture long-term relationships with clients who may not be ready to buy or sell yet.
Target Audience: Both buyers and sellers (and past clients).
Content: A summary of local market activity, including recently sold homes and general market trends.
Timing: These emails are typically sent less frequently, like weekly or monthly, since the information is not as time-sensitive.
For the Client: Softer call to actions, like asking for questions or offering a free home valuation.
For the Agent: By consistently providing valuable, data-driven insights, you position yourself as a local market expert. Clients and prospects will see you as a trusted source of information, not just a salesperson. This builds a strong professional brand. Automatic Market updates are excellent for capturing and nurturing leads.
A well-designed market watch email can be a powerful tool for finding future listings. Clients who are consistently clicking on "sold" listings in their neighborhood may be thinking about selling their own home. This gives you a natural, data-driven reason to reach out and offer a comparative market analysis.
Market Watch also Showcases Your Value to Past Clients as we know, the relationship doesn't end after a sale. Sending regular market updates to past clients helps them understand the value of their biggest asset—their home. This can lead to repeat business and, more importantly, referrals. The purpose of a market update isn't to get a sale today, but to open a dialogue.
The call to action is typically low-pressure, such as "Request a free home valuation" or "Reply with any questions about the market." This makes it easy for clients to engage with you without feeling pressured.