137. Part 1/2: Are agents blaming the market when the real problem is how they manage their sellers?
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In this episode of The Complete Agent Podcast, James Kendall, Ian Storey, David Warburton and Michelle Smith tackle one of the biggest challenges facing agents right now: pricing, seller expectations and having the difficult conversations required to actually get properties sold.
The discussion starts with a simple question. If a property has been sitting on the market without meaningful interest, is the market really to blame, or were the wrong expectations created from the very beginning?
Michelle explains why the language agents use matters. Describing a market as “price sensitive” might make sense internally, but sellers and buyers need to understand what that actually means for them. The strongest agents are able to take market conditions, affordability, competition and buyer behaviour and translate them into clear advice their clients can act upon.
Ian explains why the problem often begins at the valuation appointment. Rather than telling a seller “my valuation is £850,000”, the agent should position themselves as an adviser using market evidence to help the seller make an informed decision. If the agent claims ownership of the original valuation, asking for a price change later becomes considerably more difficult.
Dave shares the story of a seller he originally advised at around £750,000 to £800,000. The seller chose agents suggesting figures as high as £900,000 and, two years later, is still on the market. The difficult reality is that the property is now likely worth less than it was when the original advice was given. The seller wanted to move to Spain two years ago and could potentially have already been there had the property been positioned correctly from the outset.
The group also debate whether an agent should ever accept an instruction at a price they do not believe the market will support. Sometimes testing the upper end of a credible range can be part of a sensible strategy, but there is a big difference between testing the market and simply telling a seller what they want to hear.
A major theme throughout the episode is that a price realignment should never come as a surprise. The work starts at the initial appointment and continues through every conversation, piece of feedback and market update that follows. By the time a change in strategy is required, the seller should already understand why.
The team also challenge the way many agents use Rightmove statistics. Simply emailing a seller a report showing thousands of property views achieves very little if nobody is actually booking a viewing. Instead, those numbers should be combined with buyer feedback, comparable properties, database activity, social media performance and proactive marketing to explain what the market is really saying about the property.
Finally, the conversation turns to how agents should actually deliver difficult advice.
Rather than nervously asking, “Have you thought about reducing the price?”, the strongest agents give clear professional guidance based on what has happened so far, what the seller wants to achieve and what needs to change to generate the next result.
A practical discussion about pricing, positioning, communication and why the strongest estate agents in a challenging market are not simply listing homes. They are managing expectations, educating clients and confidently advising them on what needs to happen next.