Simply the Best.
Speaking at EA Masters last month, Rob Symes of Rightmove highlighted the differences between the Best Estate Agents and the rest.
The very best agents achieve:
- 136% more Rightmove leads than average
- Sell over 90% of all the properties they list
- Sell them 60% faster than average (lower days on market)
- Have 15% fewer fall throughs
What impact would these things have on your business?
- Almost 2.5 times the number of leads would massively increase the number of opportunities to list more properties. It reduces the need to prospect in other areas (although I’d recommend you still have a prospecting session every single day).
- Selling 90% of stock, compared with industry average of 57%, means over 1.5 times the number of transactions.
- Selling them 60% faster results in cost savings from less viewings, less vendor management as well as turning the stock more quickly and thereby achieving higher volumes.
- 15% fewer fall throughs will significantly reduce the time needed for sales progression and vendor/buyer management as well as improving clearance rate and number of completions.
All in all, the Exceptional agents, the best of the best, will generate more than double the income from the same pool of opportunity, have a far better and highly visible performance which in turn will almost inevitably lead to more opportunities and increased market share.
So what do they do that the average agent doesn’t?
In simple terms, they do the ordinary things extraordinarily well.
- They answer every call (on average 12% of calls go unanswered)
- They answer every email/portal lead (on average 52% go unanswered).
- They do both of these things with enthusiasm and rigour – following a process that’s great for the customer as well as extracting every opportunity for the agent.
- They list at the right price.
- They implement an agreed marketing strategy that gets the listings under offer very quickly.
- They progress the sale diligently and achieve a far lower fall through rate and therefore a far higher (and faster) completion rate too.
None of this is difficult in theory – but for some reason too many agents don’t do it in practice.
In 2019, perhaps more than in any recent year, there will be two types of agent. Those who will be proud to show you their numbers and those who’ll instead tell you their stories. The first group will focus on listing at the right price, presenting the properties brilliantly well, marketing them cleverly, negotiating to get multiple offers and then managing the sale to completion. The second will discuss Brexit, PurpleBricks, tenant fee ban, portal fees and all the other stuff they have no control over – and then blame everyone else for their poor performance and reduced income.
If you belong to the first group then please get in touch to see how we can help you make 2019 your best year yet.
Join over 6,000 property professionals, including leading estate and letting agents and receive information, insight, ideas and inspiration (four-i) from top estate agency coach Peter Knight, straight to your inbox every Monday. Join now
Agree or disagree with the views expressed in this newsletter? Share the article and your views on social media today.Follow our social channels here: