Estate Agent or Concierge or Both?

Buyers are hiding! Long gone are the days of simply slinging a property on Rightmove, keep your fingers crossed and let the leads come in. With so much information out there online, whether it floorplans, numerous photographs or a full virtual tour, prospective purchasers sometimes feel they don’t need to engage with estate agents, as they’ve arguably been given too much information up front. If one can ‘virtually’ view a property, why bother leaving the comforts of your screen to ‘physically’ view?

Nowadays enticing buyers out of the woodwork and away from their screens needs to be done from a variety of angles. Of course, being mindful of what information you are putting out online in the first instance is one of them.

Databases

There are a proportion of estate agents who have forgotten that their database is key and some don’t even run one nowadays, as they simply rely on the web portals, which is a dangerous step if you ask me.

The more proactive estate agents are starting to see that whilst technology is useful in disseminating information, it also has its drawbacks as it can limit how buyers engage with you. These agents see that their buyer databases are vital and they proactively and regularly go through them – not by sending out mass volume emails asking buyers to update their criteria, but by directly calling or meeting them. This is all about more of a personal touch, building rapport and getting those little trinkets of information that could prove so useful for when a buyer makes the decision to offer. It also enhances trust between agent and buyer.

Private listings on estate agents’ websites

A proportion of these agents are also going one step further, by luring buyers away from Rightmove and OnTheMarket and back onto their own websites, where they can monitor, engage and evaluate buyers. They are doing this by having a ‘private listings’ section on their website, where you have to be fully vetted by the agent before having access.

Networking

Everything but everything is about ones network, but equally how you know them. Sourcing previously unknown buyers and wooing them, is one of the big advantages of social media, however this has to be balanced with how much information the agent is putting out there and your digital footprint.

Contacts are everything

Whether it is on social media or real-terms networking, it is about the triangle of connections behind each agent or company, which can prove to be useful. Who do they really know and if they don’t know them, are they well enough connected to be introduced. One connection of mine in a small private group asked if anyone knew George Lucas (as in Star Wars movie director). Whilst many scorned him for such a preposterous request, it turns out that someone in the group personally knew George. You don’t know who people know – the same in property.

Estate Agents as Concierges?

In order to be the connector of people, some agents are concierge service orientated. I often get asked an array of requests about who I know – ‘who can make me a bespoke garden bench’ all the way through to ‘who do I buy a Rolex watch from?’ There are zero referral fees and one is therefore unbiased. Clients know this, trust is high and they then engage on another level. When they are ready to buy or sell their home, the ‘connector’ is front of mind.

The world of estate agency continues to quickly evolve, but it always comes back to people. Who do you know, how do you know them and can you introduce me? The great estate agents are well networked and seen as the connectors in the market place. Afterall, what goes around, comes around.