Guest Blog: Acaboom
With over 25,000 estate agents in the UK, competition is fierce, With almost four in ten properties selling for more than the asking price, it’s a great time to be an agent, despite property still being at the mercy of global changes, government decisions and changes in consumer appetite.
With vendors assessing up to 4 agents to value their property, each appointment is an audition. While a great rapport has always been seen as the estate agents’ main asset, in the next 3 – 5 years the addition of technology will separate the strong independents from the weak.
Giving vendors evidence
“Extraordinary claims require extraordinary evidence” as Carl Sagan once said. Vendors put their most valuable asset into the hands of the selected agent and entrust them to make magic happen. But are vendors being given all the tools to make an informed decision? Some agents stop at fees. In fact, data on property sales in the area, comparable properties, flood areas, schools, council tax, planning and cost to rebuild are all examples of the kind of evidence vendors want to see. Agents who print off similar properties and don’t consider the detail may appear weaker compared to those who hold all the information.
Delivery in line with the modern world
Tech has changed everything, and selecting an agent isn’t as weighted to a high street presence anymore.
Vendors are more likely to be on their devices at 11pm checking proposals than popping in for a coffee with an agent. At the same time, agents may only meet one decision maker, when The Acaboom Survey shows that people consult four people within their circle before making a final decision.
Digital delivery, app notifications to stay in touch and customised communication is the answer for agents who are time poor but still believe there is a missing link between what they can physically deliver on the day and what vendors need to select them as an agent.
Focusing beyond the market appraisal
Presenting with flair isn’t limited to the day of the market appraisal. Despite it being 2021, 91% of agents are still sending plain, copy and pasted email templates to state the valuation and fee, and using the age old ‘hope and pray’ method that it’s read and comprehended. When 78% of agents use no images or evidence with their valuation, yet over half of the population are visual learners, agents need to try a new tactic.
Using interactive, digital proposals (not to mention integrated videos and moving gifs!), are one of the best ways for agents to stand out. Tracking opens and engagement through smartphone notifications takes a process as old as time into the modern world.
Looking at the long game
Finally, with each market appraisal coming in at an average marketing cost of £211, it’s critical to win that instruction, but despite expecting them to sign on the same day not being an industry standard, there’s a huge gap in engagement beyond week one. In terms of conversions, only 7% are won on the day, and 32% convert beyond the first month – yet the average agency only stays in touch for two weeks following the appointment. Some might turn to newsletters to tick a box – but there is absolutely a space for savvy agents to be doing more of a personal follow up in this 1 – 3-month window of opportunity.
Personalised lead nurturing, alerts and notifications to check in at the best time, and understanding each vendor’s interests is the only way to control a large database while also still managing what’s in front of you.
Acaboom can help. A full market appraisal toolkit, it wraps up all the reasons to instruct you into an interactive, customisable proposal and presentation. Introduce yourself before the appointment, wow on the day with unrivalled data on comparables/industry stats, and scoop the instruction after with a tracked, compelling proposal packed with USPs.
To discover more, book your demo with Suzanna Mavity, Sales Director at Acaboom, or complete our contact form for partners and integrations using the button below...
