As you may have read, I am about to start a brand new estate agency (powered by eXp), imaginatively entitled Simon Bradbury Estate Agents. As with any new business I am going to need to get my name out there and have a number of potential avenues to pursue including promotion on the portals, social media, leaflets and direct mail to name but a few.
However, in addition to these options which undoubtedly all have their place, I am most excited to be preparing to indulge in my favourite farming/marketing/touting activity…
Door Knocking.
I appreciate that this is an activity than many highly successful and much respected agents consider a waste of time and energy whilst many even claim it to be ‘unprofessional’. I beg to differ and here’s why…
I assume that everyone would accept that the absolute basic requirement for a successful estate agent is a flow of new instructions. Obviously, to increase the likelihood of business success the quality of those instructions is absolutely key, particularly when it comes to the asking price and the fee you charge, but at a very basic level if you have no instructions you have no business.
The experts tell us that if we want to attract instructions we need to target our marketing spend on potential sellers either prior to them making their decision or after they have decided to put their house up for sale. There are numerous suppliers that can help with this. To be fully effective, both of these approaches require nurturing of some sort and if conducted consistently will certainly produce results and a decent return on any investment. So why am I so attracted to door knocking?
In very simple terms, the targeting has already been done as these prospective clients are already on the market looking to sell and what better way is there to communicate with them than an actual face to face meeting? Even better, almost by definition and particularly if they have been on the market for a number of months, their current agent is probably failing to achieve their objective of securing a sale at an acceptable price. They have a problem and you are contacting them to see if you can solve that problem… personally!
Of course, there are various approaches you can use when door knocking. In my experience of either personally conducting or organising this approach to literally thousands of vendors over a number of years this is what to do:
Identify your target audience. Check out the properties that you want to sell by using online resources or simply by identifying local For Sale boards. You may want to focus on a particular house type, price range or homes that have remained unsold for a certain number of weeks. It’s up to you but I would advise against door knocking every single available home in your patch.
Prepare some written or typed communication. It may be that when you knock on the door your potential client is not in, so it’s a good idea to leave a simple letter or leaflet with your contact details.
Knock on the door! Yes, it can be scary but just know that it’s this natural fear of rejection that prevents most agents from even trying this. Overcome your fear, move out of your comfort zone and you might even enjoy the experience.
What to say. It really is entirely up to you but ‘Can I sell your house for you?’ is unlikely to yield results. I would suggest that after you have introduced yourself, simply ask them if you can help in any way. Remember for most people selling a property is not their ultimate objective but something they need to do in order to achieve a desired outcome. A means to an end if you will. Can you help them find a property either locally or out of the area? Whatever their needs are, can you assist? I’ve often been asked in to the house at this first contact and have nearly always declined. Much better to swap contact details and arrange to come back to conduct a ‘review meeting’ in order to discuss what’s been happening so far.
Follow Up. Nurturing a lead from door knocking is, like most potential business leads, absolutely critical to long term success. Consequently, offer to stay in touch to provide advice should it be required whether or not it results in business for you. In my experience, it is unlikely that you will secure an instruction immediately at the first point of contact so be prepared to play the long game.
Other considerations. Of course, you need to be aware of any obligations that your potential client may have to their existing selling agent and ensure that any actions are carried out in accordance with their current contract.
I am NOT suggesting that door knocking should be the only or even the main source of securing new instructions but part of an overall marketing strategy to support and not replace your other marketing channels.
As a guide, if you can invest in one hour of knocking on doors a week, you should be able to reach at least six potential clients each week. That’s approximately 24 a month producing no less than 72 leads over a three month period. I would be surprised that, if done properly, this does not yield at least eight opportunities for a review meeting resulting in four instructions and ultimately two sales.
Is it worth 12 hours of your time every over that three month period? Well as our American friends would say ‘ You do the math’, but in the meantime…
Opportunity knocks!
Comments (16)
In 25 years I have never knocked on a door, it’s a desperate act portrayed by mainly the larger companies who just want to get there moneys worth out of the staff. I have only ever heard it was a success from people I know are full of BS!
Not a fan of door knocking, I don’t think it portrays the sector in a good way, but with so many self employed agents out there I can understand the urge for some to pursue this method.
But frankly there is a digital version of door knocking available to everyone that is so much more efficient, productive and professional. In case you have not heard about it its called SOCIAL MEDIA!
Pair of knockers for me, plus four candles and an ‘ose ! Yes, knocking is emotive. Yes, the fear factor. Touting – no. Building connections and trying to help people, yes. Oranges do not worry about rejection, neither do they sit Oxbridge exams. Be an orange, squeeze some happy joy in your market. If you do not believe in it, don’t do it. Those who do, should not be belittled. I’m doing some next week. At nearly 60 years of age, ever the property evangelist. Where’s the beach !!
Having opened a number of offices from scratch, I certainly won’t judge you should you decide to door knock, because I have after all, done it many times.
Being that bit older and wiser I would say to you two things:
1. You will be defined by the early instructions you take on, door knocking is about numbers only and you are not a manager for an agent where you have to send your figures in each week. Rarely do you get anything quality door knocking, it will be either over priced, d1*k vendors, in other words it will perhaps get you a board up, but probably won’t be a sale unless you are very lucky. My first point is the important one though.
2. A far better way to go is to use your contacts. You have been in the business a long time, you have a lot of email addresses so use them. I just looked on our database and we have 288 addresses for Cambridgeshire (I assume you are not moving too far off the patch?!) Obviously GDPR prevents people sharing those with you but absolutely nothing stops them sending a letter to them on your behalf by way of introduction?
People buy people…..you will do well Simon.
Simon, As a respected agent who has for many years appeared to have championed professionalism in our industry, you have surprised and sadly very disappointed me in advocating door-knocking.
The article implies that you would encourage agents to knock on the door of potentially vulnerable people and tout for business.
Can we assume that you deem it acceptable for unlimited numbers of agents to do the same?
Ten or twenty agents all preying on the same seller?!
It’s bad enough already that agents bombard sellers with different versions of the same automated series of letters.
Such practices should be outlawed and any reputable, professional agent should distance themselves from them.
Simon, you have an excellent reputation in the industry- don’t ruin it with such ill- conceived practices that contribute to damage the reputation of our profession.
As a general rule, I do not buy or take out services from people who come to my door. I have no idea if you are who you say you are. I have no idea how trustworthy you are.
If I want to buy from you, I will make contact with you.
I don’t mind canvassing with leaflets or business cards or whatever, but a sure-fire way to make sure I avoid your company is to come and knock on my door. Especially if you won’t take the hint or outright statement that I am not interested.
It shouldn’t be allowed on here that keyboard warriors hide behind a false name.
100% agree. We should own our public comments publicly. Anonymous posting is like standing in a pub chatting with a bag over your head.
Is it a coincidence that online Trolls hide behind false names?
No trolls, no haters, just respectful, professional behaviour, so lacking in general today. Any agent knocking uninvited on my door would be shown the gate.
Engaging with potential buyers that don’t know you, can be done by direct message, email, telephone or face to face. The strongest by far is face to face. The Australians are ace at it. They introduce themselves to everyone in their patch, every single door. A friendly smile and an introduction is far from ‘begging for business’. One of the best in the business at this is Sean Newman, a very bright, intelligent and successful estate agency owner of many businesses. Door knocking is about helping people, not about desperate begging. The comments above are from negative people with closed minds. One of my team noticed a property on the market for ages, they didn’t have the owners contact details, they knocked on the door and over a few months slowly built a relationship. The property was £5M, we sold it. Simon you will be ace and your passion will guarantee results. You will fly. Ignore the trolls and haters.
Simon has to be joking! He could surely never lower himself so far. Such activity is usually pursued by the plebs of the business.
So it’s more about you, Simon, than the privacy of the homeowner?
Knocking, uninvited, on the door of a stranger smacks of desperation. Someone begging for business and unconcerned for the inevitable rejection.
Why don’t solicitors, dentists and accountants door-knock to gain business? Because they have more self-respect for their profession and that all-important respect for someone else’s right to privacy.
I wish you every success on your journey – just don’t come knocking on this door. Not even if…:)
If you’re having to knock on doors to get business in the current market, it’s time for a change of career!
I don’t think so.
Established estate agents who get a consistent flow of valuations have have a good market share may not feel the need to knock doors.
But if you’re starting up on your own from scratch, then a good canvassing system – not necessarily door knocking, but doing so won’t do you any harm – is absolutely essential, and is by far the most efficient way – along with building a social media presence – to build stock AND a list of prospects to nurture.
Rubbish
When I was an agent if I saw a house that I knew I could sell I would be on the doorstep
So would all of my staff – we had one person in each office whose sold job was touting
I remember a house I knocked on that had been on thermarket for a week
Lady said she was not interested
Then wrote a letter to the office complaining that I had knocked
2 weeks later she came into the office and asked if I could sell her house
She had no viewings in 2 weeks
We sold it the very next day
It is called SELLING rather than sitting back waiting for the world to knock on your door
I was a sales person most agents now are just low skilled admin people who have no idea how to create business
I am sure all you do is look out of the widow until you get a lead from RM