Don’t try and out-fox Foxtons.

If you are an agent, planning to open an new office, you have a number of ways of launching, but let me tell you one thing .. don’t try and outfox the masters of a new office opening .. Foxton’s. You can’t copy what Foxton’s do .. you haven’t got their budget, you haven’t got their fabled database, you haven’t got their awesome brand name, their ability to sustain 0% for months and months, their self centred (said in a good way) belief that they are the best .. and they truly believe they are.

Never ever try to out-Foxton Foxton’s.

When someone, like Foxtons, stakes out the boundaries to opening a new office, showing the absolute limits, you Mr and Mrs Letting and Estate Agent are foolish to attempt a pale imitation.

No, if you want to open an office, don’t try and play the Foxton’s game .. play YOUR game. Instead of renting out an expensive £30k a year retail unit, spending £40k on a refit, then staffing it up at a cost of £10k a month, portal costs at £2k a month and then offering 0% fees for 6 months .. try this …

Spend no more than a few hundred pounds per month for six months doing this ….

If homeowners are only interested in THEIR property or any property in the immediate vicinity of THEIR property ie THEIR street or the next few streets (because anything in their immediate area that sells/rents/comes on the market has a direct relationship to the value of THEIR property), instead of doing “LOOK WHAT WE HAVE SOLD” leaflets or offering 0% fee deals, why not write a newsletter, a monthly newsletter on the housing market in just those five to ten streets.

A different newsletter every month popped through the letter box of every property in just those five to ten streets, talking about those five to ten street’s property market, how prices in those five to ten streets are comparing with the rest of the suburb or town, how rents have changed over the years, how three beds have increased by 34% in the last four years but two beds by 29% .. trust me you will never run out of things to say… because there is nothing more interesting and relevant to a homeowner, than if you talk about something THEY are interested in.

Does it work? The early pilot has been rather embarrassing .. I said the agent wouldn’t get anything for six months ….. she went and got four properties within a month .. in a specific area ( no more than 6 streets with a total of 629 properties)…But I suppose it’s good to be proved wrong sometimes .. but I will stand by my prediction, drip feed this leaflet every month then open up in six months time .. hit the ground running so hard, you will have a flood of free valuations .. and all at the full agency rate.

Want to see what the leaflet looks like? Want to know why it’s so powerful? Why we believe it will get you, within six months, called out to nearly every sales free valuation in that area, pick up the phone and I will tell you about it .

Who knows, you might just be able to outfox the fox?

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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