Working with hundreds of estate agency branches from Corporates to single family run branches gives us a great insight on what succesfull agents do to increase stock levels heres a few tips below.
The single biggest contributor to increasing your stock levels is looking at 2nd instructions , the most successful agents make numerous contacts with them during the selling process.
When they first come to the market congratulating them on listing their property
Between 8-12 weeks if they havent sold
If they have a price reduction
This can happen in a number of ways direct mail is the most popular but also a combination of direct mail and a knock on the door can really help you get that instruction.
2 Referrals are one of the best sources of introductions especially if its from customer you given an amazing service too always ask buyers and sellers if they know anyone locally who is selling their home or are thinking about it to make an introduction , some agents even offer a 10% discount on fees to a personal introduction.
3 Professional referrals if you don’t have a relationship with mortgage broker / Solicitors / accountants go do it ASAP if you all work together and pass referrals across to each other this is a great source of picking up some valuable business , don’t forget solicitors control the £500m annual probate market and they need to get valuations by 2-3 agents before they market the property if you're not working with solicitors your missing out
4 Sold in Street , the amount of times we see this its remarkable a property on the road sells and then all of a sudden we have 2-3 other properties on that road for sale this is not coincidence just smart agents sending letters to neighbouring properties letting them know record prices are being achieved on their road and would they like a free valuation.
Its sounds easy , well it is if you put the work in you can easily double your stock in 30 days , the only caveat I have to the above is you need to make sure everything else is aligned
Engaging modern website
Representation across social media with great content
Robust marketing strategy for vendors with presence on Rightmove and Zoopla
Community Brand for the company and the team
If you don’t have the above in place it makes it much more harder to succeed so we would recommend getting this in place ASAP and then follow our strategy above and watch the stock increase here at LetsBid Property we can help you with much of the above when your ready reach out to us [email protected] and we would love to help.