Losing Listings to Competitor Agents

Why is the pain of losing a new instruction so bad when compared to the joy of getting the new instruction? Valuers and Listers take it personally when a landlord or vendor chooses another agent over them _ but losing the ÿlisting is just as much a part of the game as a _getting the new instruction.

So, if you love the part of the lettings/estate agency game when your dream landlord says _yes_ to your sales-pitch at the market appraisal, so I say you must also love the part of the lettings/estate agency game when your dream landlord/vendor tells you _no_. It_s all part of the game .. because in the history of UK Lettings and Estate Agency no letting or estate agent has ever been undefeated.

Doing the Free Val is as big a part of the game is nailing the listing. Your love for Free Val has to be every bit as deep as your love of listing that you have created. If you don_t love Free Val, if you don_t love the chase, the hunt, you don_t love the game.

Asking for time is as important as the final ask, when you ask your dream client for their property on the market. The sexy part of estate and lettings is when you get signature on sole agency or terms of business and move your landlord/vendor into the listings column.

Everything before that is the real game being played though, the asking for the free Val, the walking round with the brochures, the mock up window card, getting decent comps, the back and forth, the risks. You have to love everything between target and close.

Being a lister/valuer – the listings you don_t get are all part of the same game as the deals that end up in the listings column, because the listings that are lost on the way to your wins are part of the game, not separate from it.

You aren_t supposed to like to lose a listing _

… and you are also not supposed to like the word no .. but ..

You do, however, need to love the lettings (or estate agency) game enough to play it hard, and to learn to play it well – whether you are a winner or loser.

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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