What makes a great estate agent? To start with, ensuring that every client sells in the best possible timeframe at the best possible price.
So, why is it that 51.8% of homeowners fail to sell within ten months; stagnating on the market for nearly a year?
One reason could be that agents shy away from what they see as ‘touting’ practices.
Despite its bad name, touting is defined as advertising your services or products in a way that’s persuasive and direct.
So, if we take it at its face value, every agent should be employing these tools to some degree to give homeowners a quick and efficient selling experience.
Not every agent-client relationship will be a perfect fit. The Advisory estimates that between 35 to 40% will sell with a second agent.
Sometimes it’s a simple case of that agent not having the right marketing or sales strategy to meet the requirements of the property, vendor or market.
The end result, however, remains the same. A homeowner spends too long and too much money trying to sell, before deciding it’s not for them after all.
What is the right strategy to put your agency in front of second instruction opportunities?
BuildYourMarket connects you with struggling sellers
Fail to sell within ten months
Of sales collapse before exchange
Increased demand and what it means for you
As Rightmove predict a return of optimism to the housing market, estate agents like Perry Bishop and Chambers are looking at new opportunities that will help them gain the competitive edge.
Following the December election, Rightmove property expert – Miles Shipside – comments on the “window of stability” we’re now experiencing.
Rightmove’s data analysis shows a 2.3% surge in the price of property being listed; a record rise for this time of year.
Their report also goes on to discuss the palpable difference in market activity and interest after the Conservative win. At the end of 2019, enquiries to estate agents were up 12% compared to the year before.
This then had a knock-on effect for agents, resulting in a 7.1% increase in the number of sales agreed.
Market conditions have been understandably tough over the last few years, but with demand and transactions on the rise, agents need to be positioning themselves to take full advantage of the renewed market growth.
Why agents like Perry Bishop and Chambers are looking to BuildYourMarket…
“Obviously, this year has been a little bit tougher for us with Brexit, so we’re looking at new opportunities to find new properties to list.
So, we have to start looking at properties that are marketed with other agents and see how we can help them if they’re not selling and not moving.”
Perry Bishop and Chambers
Prospecting, new and improved
Uniquely integrated to your CRM provider, a prospecting system like BuildYourMarket can give you a serious competitive advantage.*
Rather than blanket canvassing your area or employing cold calling tactics, this software gives you the ability to implement bespoke nurture-marketing journeys.
Identify customers on the market who you have a relationship with – whether they sold with you ten years ago or they had an appraisal just last week – and re-connect with them across print, email or SMS.
Consumers have a 60 to 70% chance of doing business with you again.
By linking your database of contacts to BuildYourMarket’s data, you can make the most of every past client; reminding them of their experience with your brand and offering your services once again.
Lead generation has always been a particular pain point for agents. Whilst opinions are divided on just how many leads are lost from poor follow-up processes, there’s a general belief that these touch-points are outdated.
At key property and sales milestones, BuildYourMarket will keep you in the loop with a vendor’s journey. Meaning that when the time comes to help them complete on their sale, you’re the first agent to offer your services and win the instruction.**
To discuss your strategy for optimising your sales funnel and prospecting techniques, book a consultation below.
For more information on BuildYourMarket, download our guide.
* BuildYourMarket uses multiple data sources to provide its accurate market overview. We host our agents’ data in entirely separate locations. Your CRM data – and only your CRM data – is then mapped onto that on-market information on an agent-by-agent basis.
** New listings are updated every four hours, with the BuildYourMarket dashboard updated every 24 hours.