We have spent a lot of years working alongside estate agents and understand some of the challenges they come up against and what they can do to ease those difficulties.
Changes in the market
This has to be the most overriding factor that affects the estate agent. Markets are unpredictable in their nature, you can go from feast to famine in the blink of an eye. Similarly house prices and availability of properties are always in ebb and flow.
That said, there will always be people selling their houses albeit in varying volumes. It’s important to ensure in a lean period that your listings are marketed in such a way that they stand out from everything else.
No shows at your open house
There is so much expectation around an open house. You’ve built up the hype to prospective buyers and the property owner, but there’s always that nagging suspicion in the back of your mind that people may not come.
This is where your marketing comes into play. Much decision-making takes place online before people even cross the threshold so your imagery plays a key part. To really showcase the potential of a property, instead of just photos you could do a virtual tour before buyers come. That way only people who are serious will show up on the day and you’re more likely to have a successful open house.
You’ve been called to value a property with a view to the client potentially using you. But you know you’re up against other agents. Yes the commission and fee plays a part but sellers will also buy the relationship with you.
Do you have strong communication skills? Did the seller get the vibe that you will treat the property with respect when potential buyers are walking through it? Does the seller feel like you are 100% committed to selling their property? These are all things you can convey in the initial meeting as well as showing them exactly how you will market the property and what makes you stand apart from other estate agents.
Standing out amongst other listings
When the market is saturated, there is a fear that your listing will get lost among many others. Granted people search in the price bracket but there really is a varying standard of images on sites such as Rightmove. We’ve all seen it where multiple agents are listing the same property but one has marketed better.
In the mind of a buyer, the better quality photos that have really showcased the property create trust.
Highly competitive area
It could well be that there are multiple agents in the area marketing properties. You have to first of all deal with the little voice saying it will be hard to compete. Your service, results and value that you bring to both buyers and sellers will set you apart. But you need that chance to get in front of the potential buyers and slick, professional marketing is the best way to grab their attention.