In forty years of being an estate agent I haven’t once said “It’s ok we don’t need any more new instructions”.
I’ll grant you that in 1988/89 and in 2008/09 I came close (just think for a moment what 2028/29 might have in store), but not once did I actually turn away that next instruction.
So there is nothing new about the current “stock crisis”. We agents never have enough stock.
But there is one very obvious thing that IS different this time round.
The simple fact is that there are far more sales agents than ever before. You only have to do a postcode search of sales agents to come up with a far bigger number than you would have found only five years ago.
We all know the reasons why:
- The strong market has encouraged an ever increasing number of start-ups
- All of the large Franchised Lettings chains have branched into Sales
- There has been an explosion of WFH agents (one only has to look at the market share of the likes of eXp and Keller Williams to fully appreciate that fact)
- The No Frills sector is bigger than ever before with Purple Bricks, Strike and YOPA all appearing in last year’s Top Ten
So it is not surprising that most agents are red hot when responding to Valuation opportunities.
Our experience at Callwell is that if an agent responds immediately with a phone call then there is a 70% likelihood that the vendor will answer (there is also an 8% likelihood that the line will be engaged which means another agent has probably beaten you to it!!) and that if the vendor answers then there is a further 54% likelihood that the call will end with a booked appointment.
This has particularly proved to be the case with Valuation leads generated by the TV campaign by OnTheMarket. Leaving aside whether or not you’re a Chas n Dave fan, the fact is that these adverts do generate an exceptional volume of genuine Valuation requests.
Callwell customers know that these requests are too valuable to leave to chance.