Marketing help???

[cheekymonkey]

Hi Guys,

I have a friend that has just opened his own estate agency, that offers almost 50% less commission then any other in the area. Its been open for a couple of weeks and already he has done some deals.

He now wants to concentrate on getting all the properties that are currently being advertised by multi agents. He has done door knocking and also a direct letter and leaflet drop. Just wondering if any of you guys had any ideas of something new to try.

He was thinking of maybe door knocking on a sunday late morning with a bottle of wine, introducing his business and then handing over the wine and telling them its to go with their sunday dinner.

He just wants something exciting and different, that will raise their spirits in the current housing market and give him a try, as they dont lose anything by using him as well a other agents and they will save thousands if he does sell or rent their property.

Please help!!??

 

[eyetooth-art]

Does he have a good website to go along with all the print promo he is doing? Making all the properties available online would greatly reduce his advertising print costs and also make all the properties he has to market easily available to everyone he contacts.

The wine idea also sounds like a good one although I don't know if I would appreciate someone bothering me on a sunday, trying to sell a service. It may also prove to be costly if he is going to a lot of houses in one day? (Depending on if he is giving away cheap wine or not!

Good luck with the venture.

 

[Ali-v-8]

I can help him promote himself?
has he got a website?

 

[Mister B]

Nice to see his proactive stance but at 50% off he's going to have to shift a lot of deals in a stagnant market.

As a starter for ten, I would make sure that my website was spot on. I would be pretty surprised if anybody went house hunting without first researching on t'internet.

As for cold calling customers of the competition. Sure, it may work but is pretty agressive and will lead to conflict with his competition which may or may not result in a price war. Does he have deep enough pockets to sustain a prolonged campaign, assuming that the competition match his rate of commision? If somebody offered me that kind of deal, my first port of call would be my existing agent and get them to match the rate. That would, effectively leave your friend high and dry.

Mister B

 

[Christophe]

Its worth reminding him that it is actually against the law to knock on the door of a house for sale with the intention of gaining the instruction.

It's OK to ask them where they are looking to move, and registering them as an applicant. Then going down the "how's the marketing of your property doing?" route.


Pleeeeeeease tell me its not a WOW property attempt?

 

[Christophe]

has he got a shop front, or is it just a web based agency?

Sales is tough at the moment... has he got rentals in mind? thats a good way of building up regular income.

Get a good arrangement with a mortgage adviser for providing leads.. (some will even sit in the office at times as well)

And, try to strike up a referral deal with solicitors. You will get a few quid back off that... and most solicitors have links with HIP's people now.

Funnily enough, Ive been out the trade for a year now, and have been looking at getting back in.

went for an interview last week, and the sales figures aint pretty.

 

[sara_uk]

Good luck to him but if someone bothered me on a Sunday evening, I will break the bottle in their head but that just me, I am sure others will appreciate it.

 

[Christophe]

Good luck to him but if someone bothered me on a Sunday evening, I will break the bottle in their head but that just me, I am sure others will appreciate it.

agreed.

also, If I knocked on my door I'd tell me to do one.

But door knocking does work, the corperates activly promote it, along with the use of a board count. (thats the marketing I prefer).

the thing that gets me is how crap negotiators are nowadays.

I phoned 7 agents in the area of where my interview was (sort of a mystery shop if you like), and was only offered 1 viewing. Only 1 agent asked my name, I didnt get any sort of probing questions about my situation, and NONE of them made any attempt to register me as an applicant.

In todays market, that is just disgracefull. (the worrying thing is that 2 of the offices I called are the ones I've applied to manage)

 

[cheekymonkey]

his company is based in north kent

 

[wood1e2]

Along with an excellent shop front and website, he should make sure he doesn't drive a BMW and wear shinny suits as all estate agents do in my area, along with refraining from calling everyone 'mate'!!!

On a serious note, if a couple are moving and completing, send some flowers with a note of congratulation. Single people chocolates or champange.

Or a variation on the above theme.

People tend to remember things like that, which will puch the word of mouth around, which can't be beaten.

With your property particulars, include line drawings of the house so the potential buys can actuall see where the stairs...rather than just a description.

Finally make sure someone with camera/photo knowledge actaully takes the pictres, and not just one of the shinny suite brigade.

Just some thoughts, hopefully they help, although they may not be original...

 

[Christophe]

has he got an office or is he doing it online?

in this market applicants are more important than vendors. He could get 20 instructions a week, but if he's got no1 to phone and tell them about it, then its no good.

and vendors arent stupid, they arent going to be interesting in saving on the fee if the agent has no applicants to sell.

is he on Rightmove? in the local paper? both of those avenues cost £600 per month. they are essential. if he isnt doing both, or even 1 of those, he might as well forget it.

how many houses is he expecting to sell?
even the big boys are struggling to sell 1 a week. he'll be lucky to sell 1 a month. probably less for the 1st 6 months. then when they sell, its around 3 months for completion, so cashflow is a huge problem for start up.

Unless he is doing it online, and trying to get an upfront fee from the vendor... then it doesnt matter if it doesnt sell for a while (or even at all) does it? But, he will annoy vendors and probably get a bad local reputation doing it this way.

 

[wood1e2]

is he on Rightmove? in the local paper? both of those avenues cost £600 per month. they are essential. if he isnt doing both, or even 1 of those, he might as well forget it.

rightmove.co.uk is essential, local paper every week with a selection of properties is a waste of money. Although I once a month or something to keep the name moving around.

Anyone looking for a specific property will have a saved search for that particular property, on one or all the property search websites. Saves them time and energy looking through the paper, on the off-chance the estate agents has decieded to place that one particular property in the paper this week...

So if this guy does as much as a standard estate agent for £50% less everyone is a winner!!

 

[cheekymonkey]

Haha no its a serious agency, its not the budget style ones mentioned. yea he is part of the ombudsmon service, so he knocks doors and asks to register them as applicants first.

Its worth reminding him that it is actually against the law to knock on the door of a house for sale with the intention of gaining the instruction.

It's OK to ask them where they are looking to move, and registering them as an applicant. Then going down the "how's the marketing of your property doing?" route.


Pleeeeeeease tell me its not a WOW property attempt?

 

[cheekymonkey]

He i have just got off the phone to him. He is using rightmove, findaproperty, globrix and primelocation. He has plenty of applicants, but just very little properties to sell them.

He states that most vendors are so unmotivated with the current market that they are almost accepting that their house wont selll and with that in mind they think "well im with two of the biggest agents in the area, so if they cant then no one can".

Every property he has been invited to, he has won the listing!! its just that he needs to be invited to more properties. He has sent direct letters to people already on the market, door knocked and left business cards and also leaflet dropped the whole area.

He already has a few success stories, like selling to properties that have been on with all the big agents for the last 6-8 months. he sold them on the first week of taking the instruction. He states that large companies may have the bigger offices etc, but they have lost the personal touch and also they have so many properties that they cant give 100% to each one. thus he has less, so he concetrates on each property harder.

Any other PR stunts, ideas freebies etc???

Hope this helps?

 

[Christophe]

local paper every week with a selection of properties is a waste of money.

Sorry, I couldnt disagree more. In the real world, the newspaper is still the biggest influence to customers.

Vendors will not take you seriously if you havent got a weekly newspaper presence. and buyers still use the papers more than t'internet.

Its all about exposure...

BUT, from an agents point of view, the newspaper add should be more about getting enquiries... yes, you want buyers to phone you... but more importantly you want sellers to call...

put a good size filler in every week, "Less is more!!! Less fee - More Service" etc... every other agent will list the blah de blah so you need to stand out a bit.

We used to use (and will be again, if I get the job) seperate fillers...

Mr & Mrs Smith are looking for a 2 bed property in Acacia avenue or surrounding areas, they have no property to sell, and their mortgage has been agreed in princilpe by our adviser

Yes... I know its cheesy, but it works. (oh, you do have to actually have Mr & Mrs Smith on your applicant register).

Also, the above on a leaflet delivered out the the areas you need houses are a great help.

When he does sell a house, deliver SOLD IN YOUR STREET leaflets in the area.

And, for me the crucial part is collating a database of for sale boards in the area and mail drop them.

there is a company that does this for agents, and I had debated with starting 1 up myself... so much that I have the website

http://www.board-count.co.uk

but havent done anything with it yet... still debating (trying to motivate myself to do it)

 

[lockie]

As someone about to put my house on the market and make an offer on one we have found im extremely surprised at estate agents attitudes at present.Now wonder your friend is doing well.

Just getting a valuation has been an ordeal with these so called estate agents talking to you in such a put down way its astounding.
Most seem to think you are stupid, i am sure thats what goes through their heads.
The one who has won our trade gave a realistic price and also has actually sold loads of properties nearby. The biggest one boasted about how he had loads of properties on his books.He also valued our property at the highest price.
I see that as "we over value properties and have loads to sell as they are too dear and not getting any interest".

Im sure many thinking of moving are like myself and have been watching the market and doing their homework online via the various sites which make it easier to do this.
The big boys wouldnt give us a straight answer on their fees "well we start at 1.5% and its negotiable" "Just tell me how much !!".
The one who has our trade is 1% and no need to negotiate.

The big boys gave us the hard sell, the one we are using just told us the facts and was straight up about the market. We know its dropped,we dont want silly money,just the right amount so we dont have to negotiate even more off the next one.

The big boys think we are mad if we go lower on the starting price.

Basically to getwhat more customers your friend has to give the customers what THEY want. No long sales pitches just straight talking and proper advice not advice relevant 6 months ago.

 

[My Owl 1]

Hi How many properties might your friend have that are rented properties or properties for sale where they require cost effective utilities, electricity,gas,phone,broadband and even mobile that is going to save the home owner at least one months mortgage/rent a year, possibly more. Please ask your friend to pm me so I can assist him with his business venture.

best wishes

Avril

www.savemoneywithus.co.uk

affordable utilities with up to £800 a per savings

 

[lockie]

Anyone else noticed how ever other person on ukbf seems to be trying desperately to sell utilities warehouse ? It appears to be a saturated market i met two others trying to get me into it at a marketing seminar last weekend !! MLM.

 

[Norseman]

Anyone else noticed how ever other person on ukbf seems to be trying desperately to sell utilities warehouse ? It appears to be a saturated market i met two others trying to get me into it at a marketing seminar last weekend !! MLM.

I agree.... especially when it's a pitch for something so unrelated. Keep it to threads where people are asking for a bit more help on these things please.

 

If he has applicants - then he needs to be willing to push the boundaries -
in order to attract attention - and make a big promise and give them an irresistible offer

It may sound "tacky", I am sure this or similar could be made towork...
"estate agent bets he can find buyers even in this market"

....For example a (personal) copy letter - with a monopoly £20 Note attached as an attention grabber... ( which links property and money ....)

Then with tasteful copy he explains he has more buyers than houses and needs more houses to sell to them!

- and so he is willing to promise he can find 3 viewers for their properties in the first three months, or he will buy the monopoly £20 back for a real one!!

This is a "PR able" offer - that some local newspapers (and local radio stations) might run as a story - "estate agent bets he can sell your house!!" - where he admits he is doing this to stimulate the market.

This sort of letter done well - can create a buzz...and the property owner is left thinking "why not?" instead of "why?"


Now clearly he needs to deliver on that promise ,. If he cant - he is no better than the big agencies....however - when he first has to buy the £20 back, he can get a PRable photoshoot - of handing the £20 back , whilst explaining how many OTHER properties..he has sold in the mean time.

You need to think out of the box... the combination of an irresistible offer - a PR worthy idea in local media - and direct marketing copy is powerful.

 

[My Owl 1]

Not trying to get you into anything, but we have found that estate agents and letting agencies are having a bad time and to be able to offer a service like ours as part of the lease or sale is a win /win as the agents gain income and the tenants/houseowner saves enough on their utilities bills in a year to give them the equivalent of 1 or 2 months free rent or mortgage. So it would be silly for me not to offer this as a means of gaining more custom and income.

All that is in it for me is 0.6% of any custom that the business enrols with UW. Whereas they would get approximately 5% of the custom.

So sorry if you still think it was unappropriate.

Best wishes
Avril
www.savemoneywithus.co.uk

Anyone else noticed how ever other person on ukbf seems to be trying desperately to sell utilities warehouse ? It appears to be a saturated market i met two others trying to get me into it at a marketing seminar last weekend !! MLM.

 

[cheekymonkey]

Haha, that seems like a really cool idea!!! It certainly is out of the box!! Anyone got any feedback about this idea?

If he has applicants - then he needs to be willing to push the boundaries -
in order to attract attention - and make a big promise and give them an irresistible offer

It may sound "tacky", I am sure this or similar could be made towork...
"estate agent bets he can find buyers even in this market"

....For example a (personal) copy letter - with a monopoly £20 Note attached as an attention grabber... ( which links property and money ....)

Then with tasteful copy he explains he has more buyers than houses and needs more houses to sell to them!

- and so he is willing to promise he can find 3 viewers for their properties in the first three months, or he will buy the monopoly £20 back for a real one!!

This is a "PR able" offer - that some local newspapers (and local radio stations) might run as a story - "estate agent bets he can sell your house!!" - where he admits he is doing this to stimulate the market.

This sort of letter done well - can create a buzz...and the property owner is left thinking "why not?" instead of "why?"


Now clearly he needs to deliver on that promise ,. If he cant - he is no better than the big agencies....however - when he first has to buy the £20 back, he can get a PRable photoshoot - of handing the £20 back , whilst explaining how many OTHER properties..he has sold in the mean time.

You need to think out of the box... the combination of an irresistible offer - a PR worthy idea in local media - and direct marketing copy is powerful.

 

[cheekymonkey]

If its such an amazing service to clients and estae agents, and everyone makes a good revenue stream, Then why charge your reps £200 to set it up in the first place!

Not trying to get you into anything, but we have found that estate agents and letting agencies are having a bad time and to be able to offer a service like ours as part of the lease or sale is a win /win as the agents gain income and the tenants/houseowner saves enough on their utilities bills in a year to give them the equivalent of 1 or 2 months free rent or mortgage. So it would be silly for me not to offer this as a means of gaining more custom and income.

All that is in it for me is 0.6% of any custom that the business enrols with UW. Whereas they would get approximately 5% of the custom.

So sorry if you still think it was unappropriate.

Best wishes
Avril
www.savemoneywithus.co.uk

 

[ianwallis]

Rather than spend money on wine, why not enlist a few home owners to take boards - without the 'for sale' message obviously? Pay them a small retainer fee per week, which in a recession might prove attractive.

This could be valuable in raising awareness of the brand against competitors.
Use the board to tell everyone in the area about the agency's USPs (unique selling points).

It was a tactic that worked well for a company in Leeds I know about.

 

[My Owl 1]

If its such an amazing service to clients and estae agents, and everyone makes a good revenue stream, Then why charge your reps £200 to set it up in the first place!

It is not a fresh air fee you get all the paperwork, training etc for your business and if you get 12 customers within 90 days you get it back. By the way I am a rep/distributor.

Avril
www.savemoneywithus.co.uk

 

[smcolorfull]

why not hiring a group of experts in marketing, SEO, or something like that? I think that this is the best idea, because you can save time, and at the end, also save money. Bye.

 

[Christophe]

Haha, that seems like a really cool idea!!! It certainly is out of the box!! Anyone got any feedback about this idea?

I REALLY like the monopoly money Idea....

I did get that job, so will be seriously considering that... (will see how good my negs are 1st. heh)

 

[cheekymonkey]

So going back to this monopoly idea. How would one go about it? Would they first send a press release to the local press, followed by sending letters to only homeowners currently on the market?

Would you do the letters first and then hit a press release??

Any other ways this idea could be advertised to give maximum coverage?
Thoughts?

I REALLY like the monopoly money Idea....

I did get that job, so will be seriously considering that... (will see how good my negs are 1st. heh)

 

[Christophe]

So going back to this monopoly idea. How would one go about it? Would they first send a press release to the local press, followed by sending letters to only homeowners currently on the market?

Would you do the letters first and then hit a press release??

Any other ways this idea could be advertised to give maximum coverage?
Thoughts?

Mail outs...

your pal should have a database of properties on the market with other agents anyway. If not, he needs to cet in his car and drive up every street and compile 1.

then you start the mail out. I used to do 3 mail outs of the list, then go round and collect the info again.

would get A5 flyers printed up, and include them with any details posted out, and leave them in office front.

Also, when he's out and about getting the board count info, its nothing to stop and push 1 thru the door aswell (i usually do a couple of the neighbours aswell).

Would also use the artwork from the flyers in the newspaper add as maybe even a half page filler. The local paper should run an editorial in the property section for you aswell. They are normally looking for fillers.

Also, put the filler in the property details being sent out aswell.

 

[efiom]

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