80% sellers come on the market before they find a property to buy
34% sellers get three valuations, 41% landlords get just one
The average NPS for estate agents is 22 and 12 for conveyancers
It is the start of the year and many decide its time to get moving. Me included! The fact that 80% sellers come on the market before they find a property to buy highlights that less than two in 10 will be choosing their agent based on buying through them. So how is best to get to these sellers before your competitors?
We will be looking at this in more detail at Sales and Marketing LIVE in February but key activities will include prospecting, strategic marketing and excellent customer service.
It seems to me that winning instructions to sell is quite different to winning them to let, – a majority of sellers are getting three valuations whereas most landlords are just getting one. It seems as if the landlords for the most part have chosen whom they would like to let through before the valuation, whereas with sales, there is more work to be done on the valuation itself to win the business.
NPS is Net Promoter Score. If you have not come across it I would urge you to check out BoomerangCRM who can tell you everything you need to know about it, but in a nutshell, NPS is one number that you can use to track your customer satisfaction throughout the different stages of your service. It is called ‘The Ultimate Question’ which is simply ‘On a scale of 0 – 10 how likely are you to recommend x to a friend or a colleague?’
Based on the responses to this, you can calculate your NPS and measure it on a regular basis to track performance. For instance you can compare NPS after viewings through to tenancy renewal and everywhere in between to see how satisfied your customers are with your service. A very worth while exercise used by brands such as Apple and American Express and increasingly agents such as Preston Baker, MyLondonHome and Keatons who are using BoomerangCRM.
We asked the question in this years Home Moving Trends report and the average in estate agency is 22 vs 12 for conveyancers.
The full Home Moving Trends, and Landlord and Tenant Surveys can be viewed here.