Inspiration

How to milk your competitors' weaknesses

RAT 52 (Rawlings Agency Tip)

Not only is it unprofessional to slate your competitors - it can also damage your business. Imagine that you have been invited on an instruction that you really want, and you know that the vendor has also seen/will be seeing at least one of your competitors. So one of your strategies to persuade the vendor to instruct you rather than them is to criticise the other agent, hoping this will make you look good. It won’t. Quite the opposite!

By criticising the other agent, what you are effectively doing is criticising the vendor’s judgement in choosing to invite the other agent in as well as you. The vendor must already have a reasonably positive view of that agent or they would not have invited them to quote.

A more subtle approach is required here. You need to find out the vendor’s attitude to your competitor’s weaknesses, and plant a niggling doubt in their mind, not about the agent, but about their “soft underbelly”. Part of your job as a commercially aware estate agent is to research and be fully conversant with each of your competitors’ weaknesses. Many of your competitors are probably as good as you are. Some may even be “better”. But each will certainly have their Achilles' heel, albeit often associated with a positive point.

For example, the “traditional” style agent may not completely embrace technology; the contemporary agency may not provide an especially personal service; some agents might only use Rightmove and none of the other portals; some agents might not do lettings, thereby having no access to tenants who may be ready to buy; some agents might only use part time viewing staff who don’t fully understand the buyer’s needs, etc. The list is huge.

So when talking to the vendor, find out what they appreciate in an agent. Ask them what their experience has been with other estate agents, and what they expect from you. What is their expectation of your service, technology, opening hours, details, viewing times, advertising, etc? LISTEN to their preferences and remember which of your competitors would possibly fail in each.

Then, reinforce the vendor’s expectations with your own offering. So you might say “You’re absolutely right about property portals. That’s why we subscribe to all seven major portals in the UK so we don’t miss a trick. If you’re talking to other agents, it might be worth asking them if they subscribe to at least four (knowing they only subscribe to Rightmove).

Alternatively, when the vendor tells you they are also talking to XYZ agency you might want to ask him/her “have you checked that they subscribe to at least four portals”

Another example would be “we know most buyers prefer to view at weekends and this is when most of our sales happen. That’s why only our fully trained staff accompany buyers at weekends, not the part-timers some of the other agents use. Every viewing is precious, and our permanent staff know how to make the most of every one (knowing your competitor uses weekend viewing staff).

There are dozens of ways you can use this technique to your advantage. And if you really can’t find your competitors’ weaknesses, or indeed your own strengths, please feel free to contact me and I’d be happy to chat it through with you.

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© Richard Rawlings 2010
Richard Rawlings is the founding director of Estate Agency Insight, which specialises in helping estate agencies harness opportunity through innovative method, marketing, publicity, and training. He can be contacted at or on 0845 838 1354.

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