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Tough market? How to work smarter

Are you finding winning listings and valuations more challenging? The consensus on the property market is generally that it is flat or slightly down with 2018 predicted to be a challenging year for estate and lettings agents. All the more reason to invest in ensuring your valuation conversion is high. But what else are can you be doing to adjust?

Here at Landmark we have a few simple ideas that will help to save costs and generate new business, to see you through the challenging times, and benefit you in the long term.

Floor plans

If you are not using them, make this your belated New Year’s Resolution. Your competitors will be using this against you…very successfully. Put yourself in your vendor's shoes... there is an increasing expectation a floor plan in included when listing a property. Rightmove say 42% of vendors wouldn’t even invite an agent to value their home, if they didn’t offer floor plans. And from a buyers's point of view floor plans are an invaluable tool when deciding whether to commit to viewing a property. 

Are you outsourcing your plans? This is a great option for huge or strange properties, where more expertise is required. But what about the more standard property types? Is it cost-effective to pay someone else to draw them, which could take 2-3 days, when you can be doing them in-house and preparing your particulars same day. 

When listing volumes are down, you naturally have to work harder to win new business. But herein lies an opporutnity to upskill your team to deliver floor plans in house; saving you and your vendors time, delivering a better customer experience and above all cutting costs. Even in a busy market, top agents complete their own plans and it costs around 4% of what it does to pay someone else to do it. 

New leads

It’s tough. People are tentative and the more media headlines there are on a slower market, the harder it becomes. Where are your valuations and listings going to come from? What are you doing to stimulate it?

Right now, I bet you have a database of potentially thousands of contacts in your area. All of these people will be thinking about moving home. The skill is working out exactly when, so you are ready and waiting at that opportune moment.

How about asking them...?

Using SmartVal, you can engage with your database by enticing them to get an instant valuation, through a simple email. Whether the market is fast or slow, everyone is curious to the price of their property. By getting an instant valuation, you receive valuable information about their moving intentions; now, soon or further afield. What a great conversation starter. SmartVal also functions on your website, social media and blogs for maximum results.

SmartVal will identify new business for right now, as well as lining up future conversions in your pipeline.

Property Reports

Everyone likes to havea nosey at property... and your client and prospect database is a good place to start. You can target this list to calculate your most likely movers, e.g. age of owners, length of time at property etc. But you need something really enticing to do this.

This is where Analytics comes in. Create your own fully branded property market report in a few clicks. This includes valuation (editable), comparables, sold prices and local market activity. It’s a fantastic way to make an impact and deliver something that will get read.

One particularly successful customer of this product sends the report out before valuation. In most cases the prospective vendor is extremely impressed. Who wouldn’t be? A tailored report designed just for them. Much of the conversation revolves around the report they have in hand.

Sending a report every 6/12 months is a great way to keep in touch and show that you’re a personable and expert agency. Every buyer, whether just enquiring or collecting keys, is a future seller. Impress them. All agents say they are different. Just how different are you. 

 

For more information about floor plans from Metropix contact us on 01184 672 800 or email support@metropix.com

View our *BRAND NEW* package pricing and take advantage of Landmark products and services designed to help you win more valuations and listings. CLICK HERE TO FIND OUT MORE