Make a practical change that has big impact...
If you like to read about self improvement and how to optimise your business I would highly recommend The Compound Effect by Darren Hardy. It focuses on how small changes over a large period of time have a huge effect. In the world of estate agency there is one area that will have a MASSIVE impact over time. That is how you handle enquiries. How consumers want to engage with your business has changed. Millennial don't want to pick up the phone, they are scared of speaking to people. Consumers want to be able to do everything online, by email and text. Big companies like Purple Bricks, get this and have put processes in place that meet consumer expectations. But it doesn't look like many high street estate agents have.
Consumers don't want to talk to you over the phone.
No matter how much you may want to qualify a lead over the phone, or how many training courses state the importance of building rapport over the phone, consumers don't want this. They enquire by email and expect a response through email. Relationships and relationship management has changed. More people now email through Rightmove and Zoopla than call.
Consumers want to do business with you when you're closed.
Please don't argue with the data, reports from Reapit and Rightmove both concur than over 50% of enquiries are sent to agents out with office hours. Yopa and PurpleBricks have processes in place to handle these enquiries. But it seems like most other estate agents don't. Once again, please don't shoot me, the messenger. Instead have a read of some of the below reports.
What is really happening in the market?
- Rightmove and EA Masters find 40% of email enquiries are ignored.
- Reapit finds that 1/3 of all email enquiries from the portals are ignored.
- 70% of agents fail to respond to valuation requests in 24hours.
- Weekday evenings after 9pm remain the busiest periods of the week for both sales and lettings internet registrations.
- The average response time to an email enquiry is over 48hours.
What should you do?
First come to terms with how the market has changed. Then figure out what sort of process you're going to put in place to handle email enquiries and out of hours enquiries. We've got a free solution that can help you here, if you'd like to learn more about it, please schedule call in with me to find out how we can help your business.