As estate agents we work for the vendor and our job is to get them the highest net price. To do this we need to ensure that every piece of marketing material we produce to promote the vendor’s property is professional.
Sounds simple doesn’t it! But why aren’t many of you doing it?
A couple of weeks ago I heard a shocking story I would like to share. The estate agent in this case treated the vendor appallingly. Let me explain.
The vendor had future plans that meant they needed to sell within a specific time frame, a month. The agent contracted promised they could deliver a sale within a month and the property was quickly on the market. Very poor and distorted photographs were taken, that it had a truly negative impression of what actually was a decent property.
As we are all very much aware virtually all buyers start their search online. So the photographs give the first impression of the property to potential buyers. The photos are, whether you like it or not, crucial to the decision on whether to view a property or not.
Two stressful months later the property was still on the market and had not had one single viewing. The price was not the issue, as it was very competitive and reflective of the market, but the photos just put buyers off. That was until a few weeks later a gentleman decided to take a risk and view the property. He couldn’t believe his luck when he saw the condition and size of the home, and swiftly made a cheeky offer, which unfortunately the vendors were compelled to accept. Their plans had been delayed that it was costing them daily, and the stress had been too much. They had, had no viewings and were desperate to start their new life.
So instead of helping the vendor achieve the highest net price for their property, this estate agent, because of the poor photographs, managed to negotiate a £20,000 drop on the asking price. Needless to say they had one very unhappy vendor, who also had requests from three of his friends to recommend an agent. If that agent had done a good job they would have potentially had another three properties on their books.
It is stories such as these that damage the reputation of our industry. We are trusted specialists; we are trusted with our clients’ biggest tax-free asset. Trust is never given lightly and we should respect the trust and responsibility we are given.
Never dismiss the importance of quality photographs, they can add value to a property and can be the catalyst for a larger number of viewings, leading to more competition for the property and potentially a higher price.
Let photographs sell a property not COST it!
If you have any similar positive or negative stories I would be very interested to hear them.