Study No. 4 [See a demonstration of agency web site ] Background: An independent estate agency has just learned that another agent is due to take up premises close by. The new agent is one of a larger chain. How can the existing agency retain a competitive edge.   Option 1: Continue with present system but look for areas where costs can be reduced, so that if there needs to be some review of client charges this will be possible. Review present marketing strategy to see if there are ways of raising the profile of the agency. Advantages: No real changes for existing staff to deal with. Disadvantages: Costs may have to be cut and profit margins reduced in order to retain competitive advantage. Reducing costs may be difficult if increased marketing activities required. Option 2: Consider establishing a web presence, move to an administration system that places less emphasis on paper-based procedures. Advantages: Considerable reduction in costs of generation of hardcopy material should be possible (images can be digitally produced and stored and this will reduce costs further). Circulation of property information can be effected directly/automatically via email or fax. Extensive information about the local area can be provided on-line for clients. Opens up the agency to a potentially wider client base, and will provide a more comprehensive service that may be available from the new agent. Disadvantages: Costs associated with establishment of a web presence. Training of staff in the use of the new facility. [See a demonstration of agency web site ] Outcome: Option 2 selected and considerable savings in running costs demonstrated. Wider range of new clients using the agency (the website proving particularly useful to those who are relocating from some distance away). Potential for offering an advertising service to allied services in the area (e.g. removals, builders, insurance etc) via the website - this could provide a useful source of future revenue.