01 Oct Estate Agents! Want to increase productivity and company profit within your estate agency? Here are 7 tips that are sure to help:
Converting viewings to valuations – This is the most classic and essential trick in the book as far as increasing productivity and profits goes, you have to ensure that your staff are seeing every opportunity to create a market appraisal BEFORE they take the client out for viewings. This can be done with basic pre qualification but is often overlooked. If for whatever reason they have been unable to book this pre viewing – try creating a “buyers pack” with information about purchasing property for your negotiators to take on every viewing to present to the client.
Following up attended valuations – Following up attended valuations is invaluable and it pains me that some agents do not make the most of the data they hold on their system whilst putting all of their focus into creating new business. Ensure that your database of attended valuations is nurtured on a monthly basis and arrange call backs when suitable.
Out of office hours viewings – From my experience and clients that I have dealt with after hours viewings can equal the key to success, these days with longer working hours you have to ensure that everyones requirements can be met, sometimes this will mean that a 6-8pm viewing will have to be accommodated. Try incentivising this with staff IE two out of office hours sales a month = reward.
Tracking potential market appraisals – I would always recommend having a potential market appraisal spreadsheet / tracker that is serviced and followed up regularly, and that these potential valuations are also sent information every 4 months, try offering them an up to date valuation every time you speak with them.
Targeted canvassing campaigns – Try working a specific patch i.e. BA1 9 repeatedly with specific hand written canvassing cards over a set period of time, sometimes more refined your area the better the results. Remember, the more prep work you put into your canvassing campaigns the better the results.
Seasonal marketing campaigns – A classic example of prompting action is with a seasonal flyer or marketing campaign, whether you are calling your clients and offering a seasonal offer or sending these out in the post. This method often provokes “property prices rising in your area – find out your properties true value today!”
Sales progression – Naturally I cannot stress more how vital properly handled sales progression can be for boosting profits and productivity quicker and more effectively. By outsourcing this service it has been statistically proven to free up time to focus on all of the above and at Sales Pro we offer a completely white labeled outsourced sales progression solution which is proven to reduce fall through rates and speed up completion times. Learn more about this at www.sales-pro.com
How do you feel about these points and methods? Do you currently implement them in your day to day? If so what effect have they had on your business?
We are currently offering a free consultation for any agents wishing to discuss our outsourced sales progression service or any advice on running a market leading estate agency – please contact us stating an appropriate time to call back and we will be in touch.