The valuation meetings, sales meetings, pitches or whatever you prefer to call the meeting where the agent meets a potential seller is the key to success. One percent better conversion rate usually means one percent more profit. Focusing on these meetings is one of the easiest way to become more successful.
The easiest way to become more successful
So what can you do, besides having a competitive offer and appear to be a experienced and trustworthy agent, in order to improve the conversion rate?
Everyone wants to have an agent that is organized and a good communicator through out the sales process. No seller wants to chase the agent to get information about the potential buyers interest, you want the agent to call you as soon as the viewing is over. Show that you are a communication champ even before the first meeting:
- Send a meeting confirmation immediately when you have scheduled the meeting. Don’t forget to include information about what you will go through during the meeting and how the seller can prepare for the meeting.
- Send an SMS reminder a few hours before the meeting. It is so simple but so effective. It not only looks efficient but also ensures the person you are meeting doesn’t forget. Win win.
- Send a thank you e-mail or SMS after the meeting. Include information about what you agreed on, e.g. when you will contact the potential seller next.
Show that you are a communication champ even before the first meeting
The biggest mistake that many agents do is that they forget to listen to the customer. Instead, they are so focused on delivering their pitch and making sure that they get through every USP related to the estate agent brand that they represent and themselves as professionals. But the customer wants answers to their specific questions and worries. The customer will, in most cases, tell you what they want from their agent if you just ask. So, why not start next meeting by saying “Okay, so what is important to you when it comes to the sale of your home?” and then listen carefully.
Example: How Albin went from the bottom to the top
The Swedish estate agent Albin Silfwerplatz went from basically selling nothing to becoming the best selling agent in his office. He says that one of the main reasons for his sudden success, besides being more organized and using a CRM system, was that he started to take control of the valuation/sales meetings by agreeing on the goal for the meetings with the sellers already when the meetings are booked. “I make clear to the seller that the goal with the meeting is to get to know each other and answer the necessary question so that after the meeting the potential seller can trust me to sell his or her home.”
“Be painfully honest with yourself.”
Most people, including estate agents, tend to repress things that don’t go well instead of learn form them. But just by taking a few minutes to reflect on every meeting and list three things you could have done better you will automatically improve over time and become more successful. Be painfully honest with yourself.
Example: Survey to sellers after the valuation meeting
In 2016, the Swedish estate agent SkandiaMäklarna started to send out a survey to every potential seller that their agents met. The survey was sent out as soon as the agent knew if they were instructed to sell the home or not. The survey contained questions about why or why not the customer choose the agent. The response frequency is high and the agents who want to improve have the perfect tool to do so.