12borejimbo Posted October 4, 2011 Report Share Posted October 4, 2011 Right all, I am after some collated advice, this is more of a survey, as some of you know, I am in the property business. I have just had a fantastic offer to be a director for a bespoke estate agency where I live covering Suffolk/Essex.Its a Fantastic opportunity. The main focus for bringing me on board is a bit of drive and a re brand. I am creating a large business plan for the next 12 months, and I wanted to ask what everyone likes/doesn't like about estate agents. (there will be a few comments I suspect). Now I am not the type of wheeling, dealing bad boy. Very professional, the market we are looking to hit is 2 brands, a bespoke service for unique property, ranging around the £1,000,000 figure. A fixed fee agency for every style property under £250,000 (stamp duty threshold) Lettings business for country properties. I will be in charge of the last two and be a shareholder of that side of the business when it is in full swing, to then drive the bespoke service along. (my surname in the company name with the 2 other directors). I would like some serious input in what you (the general public) would like us to be like, what you would want to stop (stereotypical estate agents) if you please. Some answers from if you wanted an estate agent, what would you want ect. Any suggestions welcome, thank you very much! Quote Link to comment Share on other sites More sharing options...
Harnser Posted October 4, 2011 Report Share Posted October 4, 2011 I would like to sell my property with out the parasitic estate agents leeching on to my hard earned income . Its all ways other peoples money with them . Harnser . Quote Link to comment Share on other sites More sharing options...
JustJon Posted October 4, 2011 Report Share Posted October 4, 2011 I want an estate agent that's spend his whole career asking the customers for feedback and taking action on it bearing in mind sometimes the customers don't know what's possible and I have to take a risk and do it without them telling me to. Other times they'll tell me axactly what worked, what didn't or what I could have done better. Why don't people do that regularly? Why is it only on a "re-brand" that the question gets asked? Develop it into the new job. Not some survey - discuss it with them when you hand them the keys. Personally. Face to face. Quote Link to comment Share on other sites More sharing options...
12borejimbo Posted October 4, 2011 Author Report Share Posted October 4, 2011 I want an estate agent that's spend his whole career asking the customers for feedback and taking action on it bearing in mind sometimes the customers don't know what's possible and I have to take a risk and do it without them telling me to. Other times they'll tell me axactly what worked, what didn't or what I could have done better. Why don't people do that regularly? Why is it only on a "re-brand" that the question gets asked? Develop it into the new job. Not some survey - discuss it with them when you hand them the keys. Personally. Face to face. I will be getting regular testemonials ect when I can, and always looking for constructive critisism! I would like to sell my property with out the parasitic estate agents leeching on to my hard earned income . Its all ways other peoples money with them . Harnser . This is why we are doing a fixed fee agency, if youve got a static caravan or a 4 bed detached, the fee is the fee. Without pulling your pants down ect. Quote Link to comment Share on other sites More sharing options...
JustJon Posted October 4, 2011 Report Share Posted October 4, 2011 There's a difference in constructive criticism as compared to a culture of ongoing and consistent feedback. Same with testimonials. One tends to be a formal process where everything is captured and written and it can put the giver of feedback off giving it. The other is relaxed and conducted to open the conversation up. Learning to get feedback (and to accept it) is a skill - I'm not great at it. I tend to go in very heavy handed when giving - bull in a china shop springs to mind but I gather feedback on myself and the way I act everyday and amend my behaviours in life and business to suit. Quote Link to comment Share on other sites More sharing options...
12borejimbo Posted October 4, 2011 Author Report Share Posted October 4, 2011 There's a difference in constructive criticism as compared to a culture of ongoing and consistent feedback. Same with testimonials. One tends to be a formal process where everything is captured and written and it can put the giver of feedback off giving it. The other is relaxed and conducted to open the conversation up. Learning to get feedback (and to accept it) is a skill - I'm not great at it. I tend to go in very heavy handed when giving - bull in a china shop springs to mind but I gather feedback on myself and the way I act everyday and amend my behaviours in life and business to suit. This is the whole point of the thread......what would YOU, the customer/client want. Quote Link to comment Share on other sites More sharing options...
JustJon Posted October 4, 2011 Report Share Posted October 4, 2011 And I'm saying I'd want a company that didn't ask that as a one off - they asked it daily. Of everyone they met. Everyone they dealt with. From table suppliers to house sellers to people looking round houses. Then you'll always have it right. you'll move with the times. You'll grow strength on strength and understand the customers forever - not just for a day. Quote Link to comment Share on other sites More sharing options...
fenboy Posted October 4, 2011 Report Share Posted October 4, 2011 What really bugs me is when a agent values your house high to get your buisness then spends the next 18 months saying that they need to drop the price "to create interest" Quote Link to comment Share on other sites More sharing options...
poontang Posted October 4, 2011 Report Share Posted October 4, 2011 (edited) Some answers from if you wanted an estate agent, what would you want A pretty young blonde with large kahoona's What I wouldn't want is the stereotypical estate agent. You know the type, young, brash, flash suits, spikey shoes (and hair), earings etc. Edited October 4, 2011 by poontang Quote Link to comment Share on other sites More sharing options...
Catweazle Posted October 4, 2011 Report Share Posted October 4, 2011 I'd like an estate agent to offer a pre-for-sale meeting, where they would visit and make recommendations as to what changes would help a good sale. A bit of advice on decor etc etc. Quote Link to comment Share on other sites More sharing options...
Maidment78 Posted October 4, 2011 Report Share Posted October 4, 2011 We bought face to face with the old owners and no agent. Why not make doing that easier and cut out the need. No offence but estate agents are in the most totally over valued and are not famed for customer service so I avoid. Quote Link to comment Share on other sites More sharing options...
Kes Posted October 4, 2011 Report Share Posted October 4, 2011 There are a few simple things but for each business 'sector' these answers I suggest will differ. For rentals, I suggest you establish a reputation for evenhandedness acting for the lessor but being 'fair' with the lessee, if you turnover the properties and the new tennants feel they have been treated fairly then both types of customer will be impressed, a difficult balancing act though. A fixed fee for up to 250K may not be wholly a god idea as those who are close to the limit will perceive they are paying for those lower down the scale. A simple system, yes, but perhaps some simple bandings, based on probable sale value? For the over a million, there are many needs. Dont take property where the owner insists on exceeding your valuation, or say it wont shift until the value is brought to X. Tell the vendor what he can do to improve the saleability of his property but make it clear what would help it sell and what would increase the value. Be on the sellers side, obviously so, if you are agreed on price. Some estate agents base their business these days on having buyers in hand who have no chain and seem too keen on keeping them on side to buy one of their properties. At its worst this looks duplicitous or possibly corrupt. Be very honest with your vendor and have a range of comparables in their area or a developed formula based on floor area with which to convince them your price is the correct one. Make sure you are honest with prospective purchasers - travelling long distances based on a poor property description or pylons or more houses off an apparently private drive are singularly annoying, and will get you the wrong reputation. Be keen, honestly keen and dynamic, thats what both buyers and sellers want, a truthful hardworking and inspiring agent. Some people offer a personalised property identification, and negotiated perchase service, tailored to precise personal specifications. The fees for this are high £20 -£30K for a £1M house but more and more people are using this service - a useful model for the high end properties, so long as you have a 'chinese wall' and demonstrably so. There are also wheeezzzes to avoid (legitimately) stamp duty. Know what they are and make a decision to go with it or not. You will need a good solicitor as part of the team. Quite a few people who buy at this level expect at least knowledge of these ways round the tax. Soem buyers and some sellers will expect you to have a service like this. Just a final thought, meaningful customer service, is not a survey carried out at the end of the process its a continuum,throughout the process and its lessons are implemented quickly and visibly. I'm sure you will know all this already but at least its some confirmation and, all the best with the venture but make sure you are buying in to all the three elements of the business and its not 3 trading names with yours on only 2. Get the articles of agreement/memorandum of assocaition looked over vary carefully before you jump and be aware that it will be 12 - 18 months before you make a profit in the current market. Oh and finally again. cheap but good photographic quality brochures on the internet etc are a must. People buy houses o screen these days. Cheers Quote Link to comment Share on other sites More sharing options...
HDAV Posted October 4, 2011 Report Share Posted October 4, 2011 Estate agents in my experience are the least knowledgeable of all sales people who basically just read the blurb on the details. Know your product and your market.... Also learn how to take decent photos and produce decent literature. Quote Link to comment Share on other sites More sharing options...
M.I.A Posted October 4, 2011 Report Share Posted October 4, 2011 I have never had a good experience with an estate agent, my advice would just to be honest and dont take the **** with fees Quote Link to comment Share on other sites More sharing options...
Mungler Posted October 4, 2011 Report Share Posted October 4, 2011 (edited) I don't see how you can run £1m props next to £250k props & lettings under the same brand. The top end agents that are into the cream of the Market normally put that hand in hand with a chartered surveyor practice or commercial or specialist Also unless you think the housing Market is buoyant and will remain buoyant for the 2 years it will take your business to get up and wash it's face (not including your start up costs) then don't. I had clients that broke away from a national chain to go on their own, and in the same year the Market just "fell off a cliff, it didn't decline, it fell off a cliff" - their words. Edited October 4, 2011 by Mungler Quote Link to comment Share on other sites More sharing options...
Fatcatsplat Posted October 4, 2011 Report Share Posted October 4, 2011 I think it all goes back to the old maxim of "Treat your customer as you would wish to be treated". Obviously young sales girl in tight tops wouldn't go amiss either I think it all goes back to the old maxim of "Treat your customer as you would wish to be treated". Obviously young sales girl in tight tops wouldn't go amiss either Quote Link to comment Share on other sites More sharing options...
Dr W Posted October 5, 2011 Report Share Posted October 5, 2011 I'd like my estate agent to 1. actually listen to me when I say things that I want. 2. to stay in touch on a regular basis 3. to not tell lies 4. to pass my messages to my agent when I ring and speak to other staff 5. to not send people round for a viewing when I've said it's not convenient 6. to lock the back doors when been out into the garden, despite being told several times. I used KFH in London to sell my flat, bunch of numpties and didn't care because of the size of London market, the agents we bought through in Somerset however were amazing and the perfect example of how a small agency should work because they had to work for their commission, they even left us a bottle of bubbly when we moved in, nice touch. Quote Link to comment Share on other sites More sharing options...
12borejimbo Posted October 5, 2011 Author Report Share Posted October 5, 2011 I'd like my estate agent to 1. actually listen to me when I say things that I want. 2. to stay in touch on a regular basis 3. to not tell lies 4. to pass my messages to my agent when I ring and speak to other staff 5. to not send people round for a viewing when I've said it's not convenient 6. to lock the back doors when been out into the garden, despite being told several times. I used KFH in London to sell my flat, bunch of numpties and didn't care because of the size of London market, the agents we bought through in Somerset however were amazing and the perfect example of how a small agency should work because they had to work for their commission, they even left us a bottle of bubbly when we moved in, nice touch. I like the last bit. May well do that. Quote Link to comment Share on other sites More sharing options...
corvid wings Posted October 5, 2011 Report Share Posted October 5, 2011 ARE YOU GOING TO HIRE SELF EMPLOYED (COMMISSION ONLY )AGENTS TO ACT ON YOUR BEHALF ?SOUNDS LIKE A PLAN THAT WAS ON DRAGONS DEN .THEY SAID NO ! Quote Link to comment Share on other sites More sharing options...
kent Posted October 5, 2011 Report Share Posted October 5, 2011 Don't pay anyone a basic. make them work for thier money, never cap the commision and don't try and re-negociate the deal you made on day one when you think they are earning too much- coz when they are you are! Anyone who sells anything should only be rewarded for doing exactly that "selling" Fixed fees are all well and good but in the market the way it is you need to say £x to sell (when we sell) If we dont sell within Y you can remove the item from our listing free. Can you convince me why it would cost more to sell the property i live in today, than the little cottage i started out in? the process is basically the same and there are fewer high end properties up for grabs so they should be easier to move on especially with the lending criterias of today Quote Link to comment Share on other sites More sharing options...
Seamus Posted October 5, 2011 Report Share Posted October 5, 2011 I am in the process of selling/buying a property, in addition to what has already been said: - Do not send people round to view who have no intention of buying or are completely inappropriate for the property type. I had an older couple look round my 4 bed two story detached cottage who were looking for a small bungalow! They were talked into it due to the ground floor size. Waste of their time waste of mine. - Do not send random employees to facilitate viewings who have never seen the property or know anything about it! - Provide honest feedback from genuine viewings, this can only help to improve the sale process. - Valuations, over valuing only wastes (a lot!) of time. - Once a sale has been agreed then pass on feedback from buyers and buyers solicitors on progress, at least weekly (I am finding this incredibly frustrating!). It is very important that you can justify the charged fees and the vendor feel that have a value for money service (in particular at the high end!) Quote Link to comment Share on other sites More sharing options...
vampire Posted October 5, 2011 Report Share Posted October 5, 2011 I thought you were getting out of that type of work 1,keep people informed,if they have to chase you then you should pay back 2,dont send people round who are your in pocket proffesional viewers 3,be honest,tell people how their property compares with others 4,listen 5.make us feel like we are your only client 6,adjust your fees,so the longer it takes the less YOU get 7,listen 8,dont uder value and sell to your mates 9.dont over value and waste peoples time 10,hurt your self often,you are after all an estate agent Good luck,you must be mad.......oh and if you have to ask,are you sure you ought to be doing it in the first place,after all you have had years of experience,so how would YOU do it Quote Link to comment Share on other sites More sharing options...
FalconFN Posted October 5, 2011 Report Share Posted October 5, 2011 1. Don't lie 2. Don't blag 3. Keep the client informed, even if it's bad news Quote Link to comment Share on other sites More sharing options...
Tim Kelly Posted October 5, 2011 Report Share Posted October 5, 2011 I've bought and sold 3 properties. One buying experience was way better than any of the others, so when it came to selling the same flat it went back to the same agent. It was a local family run estate agent, the guy knew the properties he was selling and didn't try with the sales patter. People, well me anyway, generally know what they want, so if you show them the type of things they're actually looking for, and can afford, the sales job takes care of itself. Straightforward honest representation is all I look for. Anyone who is trying too hard puts me off and anyone who has no idea what they're showing you annoys the tits off me, be they estate agents or general shop staff. I hate going into shops where I know more about the products than the sales monkey - might as well just buy it online. If you're going to be selling something, you need to know what you're selling well, it inspires confidence and keeps customers happy. Quote Link to comment Share on other sites More sharing options...
AVB Posted October 5, 2011 Report Share Posted October 5, 2011 I want to be treated as though I am your only client. I don't care if you are run off your feet I am the only one that matters. Plus honest feedback, ideas on improvements to increase the chance of a sale and a realistic valuation. Quote Link to comment Share on other sites More sharing options...
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