Mastering the Art of Leveraging Property Listings in Estate Agency

In the competitive world of estate agency, securing property listings is only half the battle; the true challenge lies in leveraging those listings to generate more business. The key to success in this field is not merely about selling a property quickly, but rather about strategically using each listing to create a ripple effect that brings in more instructions and, ultimately, more sales. The aim is to establish a process that not only ensures a successful sale but also maximises the potential for future opportunities.

To approach this, let’s divide the strategy into two key areas: real-world marketing methods and digital marketing strategies. Both play a critical role in boosting your presence within the local marketplace and ensuring that your listings generate the maximum impact.

But before we dive into the specifics, let’s consider what constitutes the perfect outcome when listing a property. In many fields, there is a clear benchmark for perfection, such as a score of 300 in 10-pin bowling or an 18 in golf. For an estate agent, a common misconception might be that the perfect result is listing a home on Monday, selling it on Tuesday, and cashing in by Wednesday. While this might seem ideal, it actually misses the mark. Selling a property too quickly without leveraging it for additional instructions means that by Thursday, you’re back to square one with nothing left to sell.

The real “perfect game” in estate agency involves putting a property on the market, generating a flurry of instructions off the back of it, selling it for above the asking price, and then using the momentum to continue attracting more listings. This process should be structured in a way that keeps the cycle going, allowing your business to grow steadily with each new chapter.

One crucial element in this process is timing. When a property is listed, it’s important to strike a balance between selling it too quickly—thus missing out on potential leads—and leaving it on the market too long, which can harm your overall average selling time. Ideally, viewings should begin around 7 to 10 days after the property is listed, preferably aligning with a weekend. This window allows for building up interest and competition among buyers, as well as generating new leads from your marketing efforts.

When it comes to communicating the viewing dates, there are differing opinions. Some agents opt to publicise these dates widely, such as on online listings, while others prefer to keep this information private between themselves, the owners, and the potential buyers. Keeping the date discreet can prevent any potential embarrassment if the property doesn’t sell immediately, as the public failure might damage your reputation.

Once the viewing schedule is set, it’s time to focus on your marketing efforts. The “For Sale” board is a timeless yet powerful tool. These boards, often referred to as “marketing magic,” are a simple yet effective way to signal to the neighbourhood that a property is available, and the adage “boards breed boards” remains true. However, not every homeowner is keen on having a board outside their home. When faced with resistance, persistence is key. Even if the homeowner initially declines, revisiting the topic after a few weeks or when the property is under offer may change their mind. A board, even if up for just a short time, can significantly increase local awareness and attract potential buyers and sellers.

In addition to the board, leaflet drops are another classic method of spreading the word about a new listing. Known in the industry as 20/20s—named after the practice of delivering 20 leaflets to either side of the street—this tactic has evolved. The effectiveness of leaflet distribution lies in volume. Rather than sticking to the traditional 40 leaflets, aim for a higher number, ranging from 250 to 500, or even up to 1,000 for properties in key areas. The goal is to saturate the local area with information about the listing, thus increasing the chances of attracting interest.

The design of the leaflet should be straightforward and eye-catching. Include a high-quality image of the property, your agency’s logo, and a professional photo of yourself. The text should be minimal but impactful, delivering a simple message that encourages homeowners to consider their own property’s value. The aim is to make a lasting impression, even if the leaflet only has a few seconds before it ends up in the recycling bin.

As the property listing goes online and the For Sale board and leaflets begin to do their work, the next step is to reach out to your existing contacts. Start with the “low-hanging fruit”—those who have previously had their properties valued by you. This is an opportunity to provide a personal touch by calling these contacts and informing them of the new listing. This proactive approach not only strengthens your relationship with potential clients but also increases the likelihood of securing new instructions.

The script for these calls should be personalised and thoughtful. A simple line like, “I’m just about to list a property and thought of you immediately,” can make the contact feel valued and special. This strategy should be applied broadly, including to those who have looked at similar properties in the past, even if the new listing isn’t an exact match for their preferences. The point is to reconnect and potentially reignite their interest, which could lead to a new listing or at the very least, keep you top of mind for future opportunities.

After exhausting your list of previous contacts, the next group to focus on are those who have viewed similar properties or registered interest with your agency, but who also have a property to sell. This is another chance to offer them something new while also discussing their own selling plans. The aim is to make them feel important and to demonstrate your dedication to finding them the right home.

Finally, move on to registered buyers and viewers who don’t have a property to sell. Although this group may not provide new instructions, they are crucial in generating interest in the property you are currently selling. Ensuring that these potential buyers are aware of the listing increases competition and urgency among all interested parties.

Once the property is listed and inquiries start coming in, it’s crucial to manage these leads effectively. This stage is a gold mine for any estate agent, not just for selling the property, but for potentially diversifying your income streams. A later section of this book will delve deeper into how to make the most of these opportunities, ensuring that every interaction with a potential buyer or seller is maximised for future business.

As the day of viewings approaches, it’s essential to ensure that everything runs smoothly. This includes confirming appointments with all potential buyers the day before and emphasising the popularity of the property. By doing so, you create a sense of urgency and competition, encouraging serious offers from interested parties.

In these confirmation calls, remind each viewer of their appointment time and subtly highlight the high level of interest in the property. This approach not only confirms attendance but also reinforces the idea that the property is in demand, prompting potential buyers to act quickly. You might even use this opportunity to discuss whether they have their finances and solicitors in place, offering referrals to trusted professionals if needed. This not only helps the buyer but also opens up additional income streams for your business.

In summary, leveraging a property listing effectively is about more than just making a quick sale. It’s about creating a structured approach that maximises every opportunity to generate new instructions and build a sustainable business. By carefully timing your viewings, using traditional marketing methods like For Sale boards and leaflet drops, and engaging proactively with your contacts, you can turn each property listing into a catalyst for further growth. The goal is not just to sell one property but to use that sale as a springboard for future success, ensuring that your estate agency continues to thrive in a competitive marketplace.