How To Pick Up Failed Instructions
Portal stats tell me that around 50% of people currently selling their property have previously been on with another agent and then switched. This is probably for the following reasons:
1. They failed to sell, because
2. They initially quoted too much, and
3. Their chosen agent fell out of favour with them, because
4. They stopped talking to their client, because
5. They had nothing to say, so
6. They got fired!
Why not take advantage of this phenomenon to gain saleable instructions from people who are:
1. Fed up with their current agent, and are
2. Happy to reduce their price, because they are
3. Increasingly keen to move, and because they are
4. Aware that their initial price was too high.
Q: How do you do this?
A: Make sure that you deliberately keep in touch with all those instructions you failed to get because some other agent overvalued/undercut fees. Just as their agent is reducing communication, you should be increasing it. Find excuses to call them three days after it goes on the market, then weekly thereafter. Ask if the the number of viewings has declined, is their agent still enthusiastic, has the agent shown Mr and Mrs x round yet (really? why not?), have they conducted a market review, why haven’t they updated the photos yet as they still have the ones with the autumn leaves on the trees in the garden, etc? Sooner or later, they will find that you have been giving a better service than the agent they instructed, and they’ll be happy to switch to you.
Going further - there's nothing to stop you from delivering a great service to your competitors' clients anyway! How about offering to negotiate their purchase for them?
You don't have to charge them, but you do put yourself in pole position for the instruction.