How to succeed without an exclusive mandate

  1. How does geolocalisation enhance customer experience in property search?
  2. In 20 seconds a potential buyer can be seduced or can be displeased by an advert
  3. How to succeed without an exclusive mandate
  4. Big Data: a promising tool for the real estate sector
  5. CRM in real estate sector: discover all its advantages
  6. Case Study: the “Baromètre immobilier SeLoger.com”
  7. E-mailing : a powerful tool in the real estate sector
  8. How to successfully promote different types of properties?
  9. Revamping of French website ORPI: 5 new functionalities to recall
  10. 2016-2017 Budget Highlights – A New Era of Development

Property sellers often believe that mandating several real estate agencies would help them sell their units more quickly as a result of increasing sales opportunities. However, this might not be the case, as you may well be aware of it. Instead, the effect is quite opposite…If you have failed in obtaining an exclusive mandate with a new client, you still have some room for manoeuvre to put all the odds in your favor. Here are some tips to help you stand out from your competitors, and to make sure that your client is fully satisfied with your commitment, hence maximizing your chances of winning the sales transaction.

Try to frame the terms of the mandate

If you have not succeeded in obtaining exclusivity, you may however discuss about certain aspects of the transaction with the client: for instance, you may negotiate a restricted number of property agencies (2 other agencies would be optimum) involved in the contract, by explaining that it will encourage you to more seriously commit yourself on the work to provide. Not only will you be able to coordinate the tasks to be accomplished by the different agencies involved, but also this will help you define the right budget allocation for the marketing of the said property, in view of obtaining the best possible return on investment.

Master your product details!

Doing your utmost to secure the transaction requires above all a detailed strong knowledge of the product to be marketed. To do so, take the time to discuss with the owner: what are the assets of the property? Is there some planned restoration work for the buyers? What are the issues that might lead to a price negotiation? List all these items in order to ensure the best possible site visit to potential buyers. Not only will it allow you to demonstrate your professionalism to your client (seller), establish a trustful relationship with him, but also to secure potential buyers during site visits: you master your product and therefore are able to provide answers to each of their questions.

Organize high-quality visits

When several agencies organize site visits of the same a property at the same time, the situation might rapidly head for disaster! To avoid this, take the lead and call up the other agencies involved in order to schedule session slots for each agency involved.

Before each site visit, it is important to make sure that the property is accessible and can host a site visit (that the property is clean, tidy and ventilated).

During your site visits, bear in mind this quote: “You do not stand a second chance to make your first good impression.” Distinguish yourself with a touch of humour, smart attentions, sound advice and guidance, which demonstrate your commitment to your client (his particular needs regarding the age of his/her children, his/her personal or professional situation etc.)

And of course, do not forget to leave your contact details to visitors. This simple gesture which seems quite innocuous is actually very useful: the potential buyer will keep your agency in mind, and your professionalism and availability will encourage him to call you back in case of more questions...

Assist the owner all through the transaction

Being available is a much appreciated quality in this profession. A real estate agent who sends feedbacks to the owner after each visit conveys the right message: your involvement will give him the impression that selling his property remains your priority.

Provide useful tips

Whether you are dealing with your client or with a potential buyer, being honest will be your more valuable asset.
When it comes to the seller: do not hesitate to send him feedbacks gathered through the visits, even negative ones. This will help him to readjust his property (cleanliness, home decoration, price...) in order to secure the sales transaction.

Finally, in front of the buyers: if the property present some faults or weaknesses, do not try to hide them! The visitor will notice them, and not only might he spend the rest of the visit worrying about what more you are trying to hide, but he would lose faith in you... Instead, try to reassure him by evaluating the situation by his side. For instance: some restoration work seem necessary? Direct him towards the benefits he will gain from it (comfort, higher value when selling...). To conclude: help him to consider the property in its best light!

And if the property does not match the client’s requirements, do not insist as insistence may annoy him giving him the impression that you are not listening to what he/she has to say and that selling the property is all that matters for you. Join him in his thought, and promise him/her that you will start working to find a better suited property.

Now, all you have to do is apply these tips to get the best out of this mandate, and outstrip your competitors by conducting the transaction!