The Advertising Myth
It would not be unreasonable to assume that as a property comes onto the market, the instructed estate agent will post the property details on various property portals and wait for the enquiries to roll in.
However, this approach is somewhat simplistic! We take a much more strategic and proactive approach to handling new buyer enquiries. There is a fallacy surrounding adverts and portal listings insomuch as many people think that a property sells as a direct result of the publication of its corresponding advertisement. This is simply not true in most cases.
In fact, the overwhelming majority of buyers who enquire about a specific property do not go on to buy it – they buy something else instead. This is because only limited information can be conveyed in an advertisement, such as price, location, accommodation and condition. Yet the decision to buy is usually much more complex and personal and is something that cannot adequately be grasped until the buyer actually visits the property.
So while it is important to choose an agent that advertises extensively (eg, we feature our clients’ properties on a number of portals including Rightmove, Zoopla, etc), it is more important to choose an agent who knows what to do with an enquiry than simply putting the buyer on a mailing list!
A good agent will use good ads to attract buyers, and then use their skill, training and judgement to help the buyer identify the right property – which in all probability will not turn out to be the one about which they initially enquired. This effective method is one of the reasons why we enjoy such an excellent ratio of new applicants to sales agreed, to our clients’ substantial advantage.