here are our top 10 tips to make 2024 your b…
2. Do NOT overvalue, but know your value
“Know your data, understand your market and try your hardest to act for motivated clients that understand the value that an agent brings to the table. In what will be a tough year, the two things that will damage your business are over valuing and lowering fees to unsustainable levels! The best thing that we did in 2023 was accept that doing less business was good for business. Triaging files on price, motivation and fee”. Dom Murphy, DM & Co. Homes.
3. You are your brand, whether self-employed or not
“2024 is the ideal time to build your personal brand on social media. As people increasingly turn to platforms like Facebook, Instagram and TikTok for information, inspiration and ideas, brands and individuals alike have the opportunity to showcase their ideas, creativity, and knowledge about their profession. Having an online presence helps build your businesses reputation and allows you to build trust with your potential clients but always stay true to yourself! That’s the key”. Tanya Baker, The Estate Agency.
4. Smile and Dial
Yes, that means picking up the phone. “Smile and dial is all about the energy you portray when you make a call. You will come across as if you really care about your job, and more importantly the customer, and believe me, they will be able to tell just by the first 10 seconds of the call. How you do the little things is how you do everything. The best sales people I know use little things like this to gain a massive advantage over their peers and the competition.” John Paul, Prospector Pro.
The key here is to actually pick the phone up. Old-school estate agents conditioned to do this in their early days have an advantage here. Our less experienced colleagues need to appreciate that they have access to a goldmine and that they simply need to ring the database and show a genuine desire to help.
5. Don’t let the market decide your mindset
“We speak to ourselves more than we speak to anyone else, having the right mindset can be make or break. In 2023 we committed to controlling the controllables, irrespective of market conditions and commentary, which we intentionally paid less attention to. We entered the year knowing we would out work our competition, consistently communicating with our entire consumer base across the highest yielding mediums. I believe it was this relentless desire to achieve more that resulted in our business finishing the year approximately 70% up on 2023. We didn’t re-invent the wheel, we just decided we were going to make it spin more quickly, no matter what it took.” Ben Madden, Host of ‘Pass The Syrup’ Podcast.
“Focus on what is within your sphere of influence. The economic dynamics will evolve, be aware of the changes and how to operate within it but don’t get distracted by it. Focus on your business, your routines, your habits and your outlook. All of these are within your control. This is where you will win.” Verona Frankish, Yopa.
I’ve seen too many agents let the market dictate their outcomes rather than shift their value proposition accordingly. And that doesn’t mean a DFS style fee promotion if supply tightens, but a justification of your fee and value.
6. Take time out for you
Really Chris, at number 6? Well, I wanted to personally write this one. Since setting up ‘another self-employed model” – The Estate Agency, just over 7 months ago, it has been a real struggle for me to balance family / work / fitness / relationships… For me blocking in times where your phone is down, your laptop is away and you are present is key. One of my favorite quotes I will be following in 2024 is by famous US Sales Trainer Andy Elliot, “Be where your feet are”. Always “being on” is not sustainable.
7. Don’t wait for perfection
I’ve also fallen into this trap towards the back end of 2023 with delays to my podcast release and wider industry PR. “Imperfect action is always better than perfect inaction. Too many agents try to get things perfect but are then beaten by the agents that take action.” Simon Gates, Opening The Gates.
Take that risk, start that local restaurant guide, push publish on your first YouTube video.
7. Don’t underestimate the Power of PR
“PR is not advertising – it’s better than that because it’s other people (journalists) talking about you, your brand and your product/ service rather than you just pushing a sales message. PR is complementary to social media, email marketing and advertising but is the most credible and trust building of all channels and is not to be underestimated in terms of its power and credibility. It provides the biggest ROI of all.” Russell Quirk, ProperPR.
8. Improve your tech stack
“The rate at which proptech is evolving is faster than ever before. What worked in 2022 may well not have the best return on investment for your business. Sorting your tech & supplier stacks properly is “nice to have” in the same way that a profit margin is optional as well. Those agents that take their tech stack choices as seriously as their recruitment almost always outperform their competitors”. Simon Whale, Kerfuffle.
9. Empower yourself through education
I wanted to personally take this one again. Having previously been part of the world’s largest estate agency I’ve been privileged enough to travel the world and learn from some of the best agents in the business. You’ll have heard the quote that you are the sum of the five people you surround yourself with, and I believe this to be true, especially for those whom you surround yourself with in business.
“There are now so many resources available to UK estate agents such as podcasts, YouTube, and physical events. I’ve used these to transform my business over the last 4 years and will continue to do so in 2024. Which one will you make a priority?” Josh Smith, JAGS Property Group, powered by The Estate Agency.
10. Accountability is the breakfast of champions
Various studies have shown that having an accountability partner will increase the likelihood of you achieving your goals by 80%. “Most estate agents don’t do the things they need to do in order to achieve their goals. Having positive accountability partners / coaches / mentors that hold you accountable to your agreed actions, will make a big difference this year. It changes your mindset from ‘shoulds’ to ‘musts’.”. Matt Giggs, Giggs & Co.