The answer is right now! The fact is that good is the new average especially in the world of Estate Agency. Your potential clients are finding it increasingly more difficult to see any differences between Estate Agents. Many of you will have heard vendors say”you all sound the same”. This is part of the reason they are so easily swayed by apparently low fees or higher valuations. It’s easy to blame vendor greed in these situations but if you had someone offering you what seemed like exactly the same service for less what would you do?
My advice is to break down into small steps exactly what a potential vendor is likely to do and experience when they have decided to sell. Then look for opportunities to add value to your service and build upon your relationship. Show them how and why you are better and charge what you are worth!
The key stages are:
Marketing – Valuation booking – Pre valuation – Valuation – Follow Up.
- Make sure your marketing/canvassing is of a quality which matches your market and fee expectation. Remember this is often the vendor’s first impression of you.
- Courteously probe further when booking valuations ensuring that you build rapport and ascertain expectations.
- Hand deliver your valuation confirmation letter, take the opportunity to knock on the door and introduce yourself.
- Hand deliver the valuation report, remember to knock so that they know you made the effort.
It’s not good enough to tell the vendor how great you are, you must show it to them in everything you do. The other agents have also told your potential client how great they are and how good their service is. Likewise it’s not good enough to meet your clients expectations, that’s easy and everyone is doing it, take every opportunity to exceed them. Whilst you are at it, make sure you don’t give them any reason not to instruct you, no matter how small.
Know your competition. Make sure that your marketing proposition is at least as good as theirs, I’m not talking about the gimmicks but the basic essentials. Emulate the more successful ones and go that bit further, don’t just talk it, do it! If you are the top agent don’t take for granted that you are better than the others, make sure, find out and keep innovating!
Remember it’s most likely that every agent the vendor speaks to will:
- Have a website
- Advertise on Rightmove
- Leave a ”Val Pack”
- Have sold similar properties….quickly
- Have a list of buyers desperate to view
- Look the part
- Talk the part…
So why should they choose you?
That depends on how well you exceed your client’s expectations, add value to your proposition and sell the benefits of your U.S.P’s.
Important
This article has only covered the “vendor journey” but it is very important that a similar approach is taken with your buyers too. Remember they are likely to be your future vendors.
