How to Remain Competitive in an Increasingly Packed Market
Estate agency is a wonderful business, because you help people move into their next home, and a home is an incredible thing. There are challenges though, because the highstreet is now becoming saturated with estate agencies. So how do you remain competitive in this increasingly packed market? We’re here to give you a few tips about remaining competitive on the highstreet, let us know if any work especially well for you!
In the end, it all comes down to your reputation. Part of this will be about your previous experiences selling houses and the rest of it will come from how you engage with your local community at large. We’re taught from an early age to be wary of strangers and people are more inclined to solicit services from people they like and trust. So get involved! Below are just a few suggestions for things you can try, it’s certainly not a complete list, just some inspiration to be going on with.
With incredible branding, an impressive frontage and beautiful properties on display, you’re half way to securing clients! That means there’s still 50% of work to go. As with posh restaurants, people can be intimidated by businesses they consider out of their price bracket or comfort zone. This means that you need to be actively trying to bridge the gap. Host free coffee mornings and FAQ sessions which give potential customers to ask all those ‘silly’ questions they’re usually too nervous to ask.
Being involved with the third sector can involve a lot of things, and there’s always more to be done. Every community has charities that are close to heart, so get out there and support them when you can. Whether it’s sponsored sports events, or volunteering with charities one afternoon a week, or giving your advice for free to those in need… there is always something to be done. By being involved with local efforts you build brand recognition, and a reputation as a group who are willing to help others in a variety of ways. Building this overall goodwill is key to helping potential customers believe that you are going to help them. We’re here to get them there, and it’s something Hunters never forget.
Even if you’ve lived in one area since birth, there is still always more that you can find out. Delve into the historic buildings of your area and about the development of the area as a whole. Was it a fishing town or a mining town? Did the population explode with the Industrial Revolution, or did it lead to many people moving out of the area to find work in bigger cities?
Once you’ve learned about the history of the area, get into current events and amenities. What are the local schools like? Are there road works around a built up area right now? What new developments are planned for the town or city, and how will they affect local life? All of this information matters because it’s the lifeblood of the community. If you’re not up to date on developments, how can customers trust that you’re up to date on the area? Because areas are living, thriving entities it’s imperative that you’re able to answer any and all questions customers might have.
If you can’t guarantee selling a house (including all of the pre-completion paperwork) in less than a month, then don’t promise that you can. If the market is slow, then phrase it well, but tell the seller honestly. The internet is littered with people’s horror stories about trying to buy or sell their home, and you don’t want to be part of that. In terms of your physical world reputation, word of mouth is both your best friend and your greatest enemy. If someone is happy with your service then they’ll happily promote you to their friends and family. However, if they’re unhappy with your work, they’ll tell everyone… Delivering on your promises will set you apart from everyone around you, it should be your number one priority, every time, for every potential customer you meet. Whether it’s good news or bad news, just be honest, people will appreciate it more than you know.
Dragging your heels isn’t going to win you any favours, it will just frustrate your clients. This isn’t to say that you should drop whatever you’re doing every time an email comes in, but if you can respond in an hour or less, people will remember! Buying or selling a house is a scary process for some of people, it’s not a day to day occurrence for them even though it is for you. So, be sympathetic if a seller is worried about the progress of their home, they’re trusting you to be there for them.
Now get out there and meet your people, build relationships with your wider community and make your name synonymous with high standards and trust. That’s just part of the Hunters Difference, but it can help you stand out from all of your competitors and remain competitive in this saturated market.
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Source: Hunters Franchising