As property agents, taking a market appraisal is one of the most critical and often stressful jobs we do. As we prepare to meet the owner, so much races through our mind.
- Will I give them the right market appraisal?
- Will we get on?
- Will I be able to persuade them to give me the instruction?
How many times though do we think about what the property owner wants from us? In my opinion, it isn’t just a high price and low commission that wins an instruction. It’s also the business relationship we build with them.
To start a business relationship takes three characteristics. Provide these and you’re not only ‘head and shoulders’ above the competition but an important step forward in securing the instruction.
1. Do you have the same goals as the property owner? For example, if they want:
- to sell quickly, can you offer this?
- minimal contact with a buyer or tenant, can you deal with all aspects of the transaction for them?
- to be guided throughout the entire process, do you have the skills necessary for this?
The customer’s goals have to be met by the agent. They need to know that you and they are both moving in the same direction.
If this isn’t the case, then the client will be ‘pushed’ away and into the arms of a competitor.
2. Can the property owner trust you? Proving this isn’t as easy as you might think. Just telling people that you’re trustworthy isn’t enough. There needs to be more. For example:
- Testimonials – nothing is more effective than written recommendations from satisfied customers
- Sales – having sold several properties in the immediate area not only demonstrates your ‘selling’ expertise but also that you genuinely specialise in the potential customer’s locality. These properties need to be similar to the owner’s for this to be truly effective.
- Sold Boards - What can be more powerful than a prospective client seeing your company’s sold boards in their area? (‘For Sales’ boards don’t work as well).
- Recommendations from friends and family - a property owner is more likely to believe in your skill and services if this is confirmed by those closest to them.
3. It is vital to be able to communicate how your agency differs from the competition AND why using an agent is a better option than selling privately. For example this could be
Why use A Property Agent? They:
- have a ready-made database of parties interested in buying in the area
- will qualify parties to ensure that they fulfil the property owner’s needs ie quick sale, no chain etc
- are always on hand to offer advice throughout the transaction, and at no cost (because they are only paid on an unconditional exchange of contracts)
Why use your agency?
There could be a variety of answers to this. Perhaps, your company:
- employ qualified staff which demonstrates their skill and knowledge
- sells the majority of property in the area
- is open extended hours? (ensuring that they are contactable by potential buyers more hours of the day than the competition)
If you want to build a sold, long term relationship with a property owner, you will need to show that you
- and they have the same goals
- are trustworthy
- offer them value they can’t find anywhere else
With all three of these you become an irresistible offer to a home owner.
What do you think? Do you agree with this?
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