Skip to main content

Why do new letting and estate agents quite often fail

... and why existing agencies find it so hard to grow.
The cost of attracting landlords and homeowners to use your agency was too high, the difficulty of attracting homeowners and landlords to even ask you out for a free valuation – let alone choose your agency, you run
out of money, costs higher than expected and income lower than expected, your agency ahead of its time, incorrect positioning in a crowded market place, not enough money coming in, low client adoption, too much competition and not enough demand

What these and the hundreds of reasons point to is that the estate and letting agents didn’t make something enough landlords and vendor wanted.
Look how easy it is to fall in love with our ideas of breaking the mold of estate and letting agency in your patch. To be the next best thing .. to be the person who will change estate and letting agency forever.
The habit you must adopt is to take our rose tinted goggles off for long enough to recognise exactly why, in a world of infinite choices of estate and letting agents (there 19,000 of them in the Uk and it rising every day)…. How and why landlords and vendors will pay attention to what you do and say, care enough, then choose you so they can pay us (because we aren’t here for charity)
So if there is one thing that you might learn from all this … all landlords and homeowners are crying out is this …
“Don’t tell us what you do as an estate or letting agent…. don't tell tell us how you do it .. but tell us why it is going to matter… matter to me”

Popular posts from this blog

One tip to get better Conversion Rates

Some Estate agents boast about having really high conversion rates of 75% to 85%. These listers consider themselves the daddy listers, the big cheese valuers, the mutts-nutts of Valuers. Other Estate Agents have really low conversion rates of 20% to 25% of the free vals / mkt appraisals they go to. These listers/valuers wish their conversion rates were higher Recognise anyone that fall into those two groups? Which group of those would you rather

Are Countrywide becoming the Tesco's of UK Estate Agency?

10 years ago – Tesco’s could do no wrong, the darling of the stock market, huge profits, they were invincible ..  but now, still huge – Tesco’s are not the force they once were. Tesco’s Senior executives were pushed out of the business which also suffered a culture change which was "not for the better". .. and that made me think, the of the possible similarities between what happened at Tesco’s and what appears to be happening now at Countrywide
For years, anyone who had dealings with Countrywide would come away with respect for the apparent clinical efficiency of its business model. One company, many brands. The senior management team had so much depth of experience .. both a mile wide and a mile deep. Countrywide played hard but

Cheap Fees in Estate Agency

My good lady wife loves shopping online. In fact, Amazon, they rang her last week to check she was Ok as she hadn’t ordered anything for three days (only kidding .. they rang after two days)
She ordered some Gin glasses (not from Amazon) from the internet – you know the ones that look like a goldfish bowl on a stick. The glass seller put the box of six glasses (the box being quite flimsy in the first place) in another brown cardboard box. This brown cardboard box was a couple of inches bigger around the sides of glass box, but the same height as the