I love to ask Estate Agents and Letting Agents what makes them different compared to their competitor’s agents in their town. Most start with cold hard facts, concrete truths, stuff they can straightforwardly explain.
- “We offer a more competitive fee”
- “We sell more houses than any other agent”
- “We go on more portals”
- “We get closer to the asking price than any other agent”
Human beings arent rational. People don’t pay for the actual value the thing they buy delivers.
- Why do people pay on average 17.3% for their shopping at Waitrose more than people do at Asda?
- Why do people pay £3.25 for a Starbucks or Costa when they can have a free coffee from the staff room (or home)?
People pay for the indefinable WORTH or value, for what THEY experience and what THEY (and only they) care about.
So I challenge you … if you unable finish this sentence, it might be time for a long hard look at your yourself.
“Our landlords and house sellers love how it feels when they use our agency, because —————.”
The competitive advantage of your estate or letting agency is what your clients believe, not what you do in your offices.
PS Thank you for reading this post. I have a blog with 650+ posts similar to this on the Estate and Letting Agency Game .. link here ..
Author: 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.
07950 147 572