Are you an honest Estate or Letting Agent?

TRANSCRIPT OF THE PODCAST BELOW ….

Are you an honest agent?

In lettings or estate agency, your honesty, your truthfulness and your trustworthiness allow you to secure the listing. Whether you are a letting agent with the portfolio landlord or the estate agent with that realistic vendor with the top draw three bed semi in the best street in area, both that landlord and vendor have to trust that you, as an agent, are honest, truthful and trustworthy, in order to use your agency. Think about it fellow agents, nobody uses anyone if they don’t have these three things?

.. but cards on the table time here fellow agents.

Are you all honest, truthful and trustworthy? Of course we are Chris I hear you reply. But let me ask you another question, a question where I ask you to put your money where your mouth is.

In your hearts of hearts, swearing on everything that is important to you (which in my case would be my awesome Mrs, Joey the Lettings Dog, my family and decent glass of Sav Blanc) … The second question I ask, for all those in the estate and lettings agency game, a question who’s answer cannot be just be an exaggerated statement, given on whim, or a claim not meant to be taken literally.

Are you willing to give your landlord or vendor the whole-truth at any price, including the price of losing that property to a competitor?

How many of you have lost to competition who were prepared to lie and to tell the landlord / vendor that they could deliver the landlord’s / vendor’s vision in order to win the listing. I know sometimes some of your competitors will be found out, eventually losing the property/portfolio because they could not achieve the result that they promised and I bet eventually you won some of those landlords / vendors back as a result of that.

However, don’t you find it strange that most of these landlords/ vendors don’t change agents?

So why don’t these competitor agents lose the landlord / vendor that they gained, even when the promises you know they made to that landlord/vendor, could never be and were never actually kept? (and I would say that the promises were never intended to be kept).

Don’t you find it strange these landlords/ vendors accepted a substandard service from those competitor agents, but because they didn’t want to undergo the hassle of change and more importantly, because that would mean they would lose face with you because you were right and they were wrong) .. even if changing agents enabled them to achieve the outcome that they wanted in the first place, they stay put with the competitor agent, preferring to believe that they could keep the status quo and hope eventually that the improvement they needed would come.

But before you all turn into the $hy-sters the public believe us to be, there are advantages to telling the truth, one that doesn’t end with you losing the property. In my time as both an estate agent and letting agent, the more properties I lost, my honesty TO MYSELF as to what was required to achieve the listing and what my landlord/vendor needed, enabled me to get the listing …. even when what I said conflicted with what the landlord / vendor wanted to believe.

All of you reading this, just like myself, have bagged many listings, bagged many a vendor or landlord because we were willing to tell the truth even when many of our competitors were not. On more than one situation, I have found myself talking to a landlord / vendor who told me that I was the only one who told them that they couldn’t have what they wanted and what it would take to give them what they wanted.

Thankfully, I was able to support my opinions with rational, reasonable, rocksolid and indisputable facts. The best bit was the fact I was presenting my thoughts to a landlord or vendor that knew that achieving better results would require some serious effort, some effort to change their perceptions, wants and needs. .. and the best bit is these landlords and vendors are the best you can have and they will recommend you to the masses.

So if you believe in Honesty, Truth and Trust at any price, you are going to have to go to the free val / market appraisal open eyed to the fact by being honest, truthful and trustworthy 100% of time comes with a potential cost, you need to be prepared to pay the price of losing the listing.

And that’s the problem with being honest with your dream landlord or vendor … it is not always without a cost. Sometimes it can cost you your listing, and sometimes when you most desperately need the listing. But if you said you wanted your honesty, your truthfulness and your trustworthiness to be the thing that you lived by as an agent, then if you live by that sword, you must die by that sword

Honesty, Truth and Trust at any price, even if it costs you the listing. .. if it were easy – every man and his dog would be doing it!

PS .. there is a bonus five minutes added to the podcast – where I tell you how to get these great landlords and vendors to ring you in the first place

Christopher Watkin

I teach, guide, support, mentor, consult, counsel, partner many hundreds of UK Estate and Letting Agents in their quest to grow their estate and lettings agencies business. Old school techniques of touting, landlords wanted leaflets, ring us for a free valuation, we have sold this in your street leaflets don't work anymore. There are too many competitor agents .. meaning cheap fees are epidemic, overvaluing is almost a norm to get the stock and don’t even mention about the online/hybrid threat. So a few years ago, I set about looking around the UK and spotted that certain agents (not many mind you) in certain towns were still seen as the ‘go to person on property’, the person the newspaper editor rang up every week for a comment and I looked at what they did and they were doing some thing quite remarkable…. Only one thing but they were doing it so well .. and reaping the reward in terms of decent listings and decent fees, happy staff, decent sales pipeline and exchange income, managed lettings portfolios in the many hundreds .. but more importantly, they really enjoyed the job… they enjoyed getting up in the morning and people looked up to them Over 400 agents around the UK are on a mission to change the way our Estate and Lettings agency profession is perceived and looked upon, doing it town by town, city by city. I guide these 400 agents, teach them, mentor them and support them to be seen in a different light, to be seen as the ‘go to person for property’, actually be the ‘local property expert’ and prove it. Christopher Watkin 07950 147 572 christopher@christopherwatkin.co.uk

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