7 Ways to Improve Your Vendor Retention
November 17, 2017
We all want to keep our vendors from wandering off to another agent down the street, but sometimes we forget how. Here are some quick tips to help you keep your vendor loyal, and very happy!
- Keep your promises – do what you say you will, when you say you will, and that’s all most vendors will ever ask of you. Don’t promise to call them back that day then ring them in the morning with an apology; instead, call them that day without fail and ask if it would be ok to speak in the morning.
- Keep in touch – I see many unhappy vendors every year who bemoan the fact that their agent never contacts them. It doesn’t take much; make a note of three things you can talk to them about – the interest (or even lack of it) in their property, any local property sales, and the current market conditions. Even if you really feel you have nothing to say to them, call them and ask how they are – they will appreciate the gesture.
- Feed back positively – Don’t make your vendors feel that their house isn’t good enough or they have been greedy with their hoped-for asking price. Give them a ‘feedback sandwich’ (sometimes called something slightly less polite!) – start with telling them something positive, then deliver any bad news you have with sensitivity, then end with an upbeat comment. As Maya Angelou once said “People will forget what you said, people will forget what you did, but people will never forget how you made them feel”
- Tell them the truth, the whole truth, and nothing but the truth – if you lie about anything at all, it will come back to haunt you. Little lies (sorry I’m late, I was stuck in traffic) have a habit of turning into big lies (there was an accident on the main road) and you will get found out. Just tell the truth (really sorry – I left the office later than I intended to) and your vendor will trust you more in the long term.
- Be visible – often a vendor will say to me “My agent isn’t doing anything to sell my house – I never hear from him”. These two facts may not be linked at all, but in the client’s mind they are, and that’s all that matters. Make sure they know exactly what you’re doing as often as possible. Copy them in on emails, drop them a note every time they are in the paper or you have called your applicants. Just be visible.
- Stay real – above all else, you are a real person, and so are they. Don’t be ‘agent-versus-vendor’, think instead of ‘Joe helping Anne’. Be kind and don’t be afraid to be yourself.
- Keep their goals in mind – find out why they are moving and keep this goal in your mind, always. Refer to it in every conversation and email you have with them. It will not only help you to stay on track and motivated, your vendor will love you for it, and stay loyal to you.
Have I missed any out? Do you have a fab vendor-pleasing tip you could share with my readers? Please leave a comment, or if you’re shy, email me at sam@samashdown.co.uk
What to read next: How do you get those WOW images? http://samashdown.co.uk/how-do-you-get-those-wow-images/
What to do next: Do you get my Supertips? They’re jam-packed full of great tips and marketing strategies, and best still – they’re free! Get yours here -> www.samashdown.co.uk/supertips
Speak to Sam: If you’d like to know how I think you could improve your marketing, just answer a few short questions here https://samashdown.wufoo.com/forms/free-marketing-assessment-call/ and I’ll tell you if and how you could be more effective.
You May Also Enjoy
Modern rental properties command premium of 18%
New data analysis by FCC Paragon reveals that renters who want to enjoy the many benefits of living in a modern property are facing a rent price premium of up to 18%. Modern homes come with a number of benefits, including increased energy efficiency for lower household bills, less chance of experiencing frustrating maintenance issues,…
Read More 
The Ultimate Guide to Selling Your Home: Smart Pricing, Stylish Upgrades, and Strategic Marketing
Selling a home is more than listing it online and waiting for offers—it’s about crafting a compelling narrative that captures buyers’ interest and motivates them to act. From pricing strategies to final staging touches, this article breaks down advanced, actionable tactics that help homes sell faster and for a higher price. Let’s explore how you…
Read More 
Prime London property values slide by as much as 60%
The latest market analysis by prime London property brokerage, Jefferies London, has revealed that sold prices across some of prime London’s most popular neighbourhoods have fallen by as much as 60% so far this year when compared to the same period in 2024. Jefferies London analysed sold price records from the Land Registry, looking at…
Read More 
Can’t afford London? These cities are giving investors more for less
New data has revealed that between four and ten of all buy-to-let purchases made in the first four months of 2025 took place in the Midlands and the North of England. With affordability scarcer than ever in the South, property investors are turning their attention to greener pastures… literally. So, what’s driving the shift up…
Read More 
£19m per month for the nation’s most prestigious property
The latest research by award winning mortgage adviser, Alexander Hall, has revealed that whilst a property close to Royal Ascot will see the average homebuyer pay £4,263 a month in mortgage costs, this monthly payment climbs as high as £19m a month for those with ambitions of snagging a real royal property. This week, Royal…
Read More 
Glenigan Summer Forecast: Boom Times Ahead For UK Construction
Construction intelligence specialists predict major performance uptick over the next three years. UK construction sector set to grow 24% over the forecast period Private housebuilding is set to increase significantly, with an 18% activity increase predicted in 2027 Industrial & Commercial gradually strengthens as UK economic growth gathers pace, supported by increased business investment Increased…
Read More