Good enough to buy from – but not good enough to sell through…?
There can be no greater insult for an agent than finding out that a buyer who has had an offer accepted on a property through you, subject to the sale of their own, is considering the option of inviting another agent to sell it. It should, considering that they are buying through you, be a given that they will instruct you to sell theirs.
After all, you’ve demonstrated your professionalism and ability ‘not to drop the ball’ during their purchase negotiations, built up a rapport, so you should have their instruction in the bag. Shouldn’t you? It’s a bit of an insult then, to find out that this potential vendor, despite their positive experiences with your company, still ’t feel the need to consult with your competition. And that of course, is the last thing you want.
The reasoning and rationale
Thankfully, scenarios like this are a rarity of course. If you’ve done your job properly, then a purchaser with a potential related sale should ‘fall into line’ and instruct you to sell theirs. It does raise however, the interesting question of why they feel the need to seek 3rd party opinions from other agents. Rarely is it about price. It probably has everything to do with their perception that other agents in your patch will do more to expose their home. Usually, ‘the bigger agents’.
And it follows on that there are many other potential vendors out there who share the same view. These are the very ones who may never call you out.
So why don’t more agents offer more?
Any potential vendor wants their chosen agent to be seen to be ‘doing the best’ to get a buyer and achieving the best price. High visibility on the portals for their property is paramount. So it’s pretty amazing that there are a considerable number of agents who don’t feel the need to offer floorplans, virtual tours and pro photos as standard, or at least, as an option.
If you’re currently spending shed loads on vendor mailshots, improved lighting, facias and displays for your office, and newspaper adverts that’s great. But it ignores the fact that when it actually comes to marketing a clients home on the places that matter, i.e. the portals, many agencies fall well short.
Look at what the market leaders (the big agents) are doing in your town and replicate it. Look at their listings, and Identify what it is that vendors really want to see from an agent. You’ll soon discover why they have a bigger market share.
Promoting your agency (as opposed to your listings) will only get you so far – you may be called out. But what about all the other potential vendors that simply didn’t call you because of the perception that your company doesn’t offer the best marketing?
With historically low stock for many parts of the UK, and competition fierce amongst local agents, why not take a look at how you can improve your property marketing across the board. Don’t just tell potential vendors why they should invite you out to their property, show them!
You May Also Enjoy
Annual house price growth halves in September
Homesellers say valuation appointment is key
London’s rental market bucks the national trend
Higher mortgage rates put buyers in the driving seat
Prime London buyer demand cools in Q3
