Inspiration

How to Punch Above Your Weight in a Recession

Finding the upside to your downsides

With tighter budgets than ever before, how can you deliver the wow-factor and innovation required to inspire your prospective clients without spending a bean?

One way is to look at the “negative differences” of your estate agency. Instead of looking for ways in which you can add to your service (which often incurs cost) find those areas in which you might be regarded as weaker than your competitors. You no doubt already maximise the areas in which you are stronger, such as a trade affiliations, portal subscriptions or a knock-em-dead website; but this time look for the apparent chinks in your armour – and then turn them into powerful advantages!

For example, let’s say that you don’t provide virtual tours of property for sale, but a competitor does. Do you hide this fact, hoping that nobody will notice? (except your competitors, who will use this against you).

Why not turn it around, and drop it back on your competitors’ head? Publicise the fact that you choose not to use virtual tours. You disagree that they are beneficial in this market (always say “in this market”), because buyers are so precious you feel it is far better to actually get them through the door, rather giving them the option simply to view online and out of your control. “Mr Seller – we use the internet to attract buyers, and then we personally make sure they look at your property – and then actively encourage them to buy it! We find this is much more effective than those agents who think they can cut corners by posting a video of your house on-line!”

Another example would be opening hours. When another agency is open till 10pm, and you close at 6pm, you might want to reassure people about your low staff turnover. One of the reasons for this is that you encourage staff to get their work/life balance right. “In return we find we have the most enthusiastic and motivated agents in the area, and they are always happy to go beyond the call of duty – so you’ll often find them showing properties late into the evening anyway. But at least they don’t have to man the phone when nobody’s around just so they can say their still open!”

Perhaps you have a competitor who promotes the efficiency of their dedicated sales progression department. But you don’t have this and your valuer (or Property Marketing consultant) also does viewings, handles the negotiations and progresses the sale. The advantage? “Mr Seller, as soon as a sale is agreed, some agents simply pass it on to some faceless admin person. With us, the same person to whom you entrusted your sale is the same person who will become thoroughly involved in seeing it right the way through to completion and beyond. So you can enjoy total peace of mind from start to finish.”

So why not look at your estate agency business today – starting with your apparent weaknesses. They could turn out to be your greatest strengths!

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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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