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Sales Technique Article - Estates Agents: Marketing Appraisal Techniques

Qualifying Valuation Appointments

When filling out a New Instruction form you should follow this format as closely as possible:

1. Name and contact details.
2. EMAIL & MOBILE: explain the benefits. Many estate agencies are using email and text messaging to contact buyers and vendors with information. For vendors this can include appointments, web statistics and sales progress notes.
3. Property information: Exact bedrooms, style, general condition etc. You need this for comparable evidence of similar properties on the market because if you have a large number of comparables you will need to change the criteria on the results. If the house is semi detached 3 bedrooms and you have only 1 other comparable within a 1 mile radius then you can open up the comparables to 3 bedroom terraced or all semi detached and detached houses depending on the information given by the client.
4. WHY MOVING? This is a very important question, they could be trading up so an applicant card needs to be made. However it could be a distress sale (divorce for example) and a quick sale may be required. This all helps to add to the general background of the valuation and helps the lister to focus the presentation on how to quickly achieve a quick sale for the client.
5. WHEN ARE THEY PLANNING TO PLACE THE PROPERTY ON MARKET? DO NOT ACCEPT ASAP. Ask for a date or which month. Better still ask the client when do they need to be moved by - this spring, summer, autumn or by Christmas.
6. Confirm date & time. Send confirmation letter with both date and time included.
7. CREATE comparables, file in date system for the lister to extract on the required day.

Cross Selling

You can cross sell Financial Services & Legal services whilst making the marketing appraisal appointment. However do not close too hard at this point in case the client feels you are only interested in cross selling and not the actual business of selling his house.

How Much Do You Charge?

Your first answer is, "this is discussed at the valuation". If the client insists before valuation then you can suggest a price over the phone of 2% equivalent to price. DO NOT QUOTE 2% BUT THE ACTUAL FIGURE i.e. "£120,000 house is £2,400, but the manager/lister/negotiator will discuss this in more detail with you when he sees you".

Objections:

I don't want to sell my house, just a valuation.

Q. What is the valuation for? Sell paid for survey services. DO NOT SEND the lister out on a valuation just because the client wants a valuation and no intention of selling. If you are in doubt about the client's intentions just ask the client if you can ring back to confirm the appointment and discuss with your manager or the lister.

I don't want to pay your level of fees.

Q. what fee level were you hoping to pay? We do not charge if we do not sell your home, so there are no costs at this point. If we could get you £10,000 more than another agent would you be willing to pay more? Do you know the difference between our services and other agencies? DO NOT OFFER A DISCOUNT ON FEES just for a valuation appointment.

Feedback

Put notes on the valuation form about your discussions with the client. This will help the lister to focus on the clients objectives and possible objections.

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