What are 2 of the biggest challenges facing Estate Agents in the UK today and how can we begin to address them?
Well this is quite an open-ended question but as someone who gets to speak to many estate agents on a regular basis, there are 2 areas which keep coming up:
COMPETITION & FEES
So how do we address these areas and is there a way to immediately begin to stand out from the competition and raise fees at the same time?
The answer to this is YES though not easy implemented. One way of standing out from the competition is to stop playing the same game as them. What does that mean? So instead of talking about opening hours, call centers or premium listings, talk about your specific marketing plan prior to launching on the portals (oh and if you don’t have 1, get the team together and create 1!). Talk about the unique experience you and your agency offer your vendors and applicants and relate this back to HOW this is a benefit to them.
When talking to potential vendors share something about yourself and then ask questions about them where you will learn what their needs and fears are when it comes to selling, LISTEN to the answers then explain how your services directly addresses those needs and fears. Remember your answers need to show that they make life as easy as possible for your vendors and buyers while supporting them in achieving their goals.
Give people a unique and great experience, for this is the age that we are now in, The Experience Economy is here and not going anywhere for the foreseeable future.
One of the greatest examples of a company that understands this, is Apple. In theory Apple should at best be a lesser phone supplier and the last thing they ‘should’ be is one of the most highly valued companies in the world.
Look, I love Apple, but the truth is, the competition’s products are simply better. Android suppliers’ phones often have better processors, memory, cameras, displays, batteries and speakers as well as the fact that most ‘ground breaking phone-tech’ comes out first on Android phones. But we love Apple because they give us an ‘experience’. Not just the products but even when you visit their stores or interact with them on the phone, they make you feel good and have you wanting to interact with them more.
While it may seem easy sitting here typing away advising agents to give people a great experience and all your problems will be solved when we know it takes a lot more than that. However, this content is relevant and there are agents out there which have already taken a lot of this on as part of their own transformation into how Estate Agency should be done in 2019 and they are enjoying the benefits.
Standing out, customer experience, marketing, nurture journeys, clear brand message and core values, the list goes on and sometimes as agents it can be difficult to know what to do first with everyone supposedly offering the next ‘big thing’ to grow your business. So, if you’re not sure where to start, just pick 1 area and start to develop that and then go to the next area.
If you like this type of content and want to know if the type of training that EA Life offer would make a difference to your team then get in touch today. One thing is for sure which is, if you are looking for a different result in your agency, you need to take a different action.
Call Richard on 020 3488 0057 to talk about the training and development that EA Life offer or anything Estate Agency.
We have limited places left for our next 1 day training workshop in London on Thursday 23rd May so get in touch for more information.