How often we hear this every day… Golden times for sellers… We adjusted our mortgage, and as a business owner you then get questions about your company. First he asked how I thought I'd get through this crisis. I really thought: sir from the bank, what rock do you live under, and do you know what kind of work I do? The only thing we estate agents need to be afraid of in this crisis is not managing to buy, or not getting any more homes in for sale. I answered that I can't wait for the housing market to get back to normal. He was a bit surprised? Because surely an estate agent wants exactly this kind of overheated market?
Contents
- An overheated market
- Making quick money
- Time, attention and a little love
- Sales instructions
- Purchase instructions
- A bit of peace, attention and time? Count me in!
An overheated market
I don't need to tell anyone the housing market is overheated. Maybe, just maybe, the person from the bank. But otherwise it's clear to everyone. In Utrecht we currently have 32,400 searchers and a total of 784 homes on the market. Don't be shocked: that includes the new-build supply and all homes already under offer or subject to financing. So enormous tightness. At the moment, it's often the case that a home is entered into the system. Buying agents & their searchers receive it in REAL TIME. If you don't call within 1 hour, all the viewing slots are full. Some agents only schedule a single block in the diary for 15 to 20 viewings. While there are no fewer than 100-plus requests. Lots of homes don't even make it to Funda at the moment.
Making quick money
Last Saturday I spoke to someone who called me completely crazy. He could see why I was so busy. Surely I could just schedule 15 viewings, have everyone make an offer and sell. Then I'd spend little time and earn well. At least my hourly rate would be higher. I then asked him, ‘do you think that gets the highest price?’. He said: ‘No, but it does get you the most money, little work, and the client still sells well.’ I could do that, but then I'd really find my work no fun at all. I don't have any hobbies. Well, okay: eating, drinking, cooking, going on holiday. But I don't get much further than that. Of course I'm not averse to money. But for me it isn't about making quick money. I really want to help people. I've more or less made that my life's mission. Sometimes I forget myself in the process. But at least the other person has been helped well.
Time, attention and a little love
Are you looking for a home yourself? How annoying it is that you can't get a look-in anywhere. An agent says a few words and you have to move straight on. Little interaction. Often an agent doesn't even walk round with you. He or she tells you when the bidding closes and that the ‘documents’ have been emailed. I believe you should treat other people the way you'd like to be treated yourself. Take the time, inform people and ask questions. That's how you find out whether people really like the home and what their considerations might be, and you can inform them. Maybe a client is unsure about something very simple that you as an agent can answer just like that. We also write lots of blogs, in which we give people figures about the neighbourhood and the price rises, but also give them a feel for the neighbourhood. After all, it's not a pack of butter you're buying. You're about to make one of the biggest purchases of your life. We make people feel at home. Florist Gloriosa often comes by with beautiful flowers and plants. Clients get a step-by-step plan and a sales plan from us. The step-by-step plan sets out what they need to do for the best sale and which items need to be bought, and the sales plan sets out what we're going to do for them. We also always ask people to let us know if they're not making an offer. Then we know we don't need to call those people when a good offer comes in and we have to decide quickly. We often get an email from viewers who still want to tell us it was a lovely viewing. That we really took the time for them and that it had been a long time since they'd had a good viewing. It's simply our job. But it's a sign of appreciation, and it reminds us why we do it.
Sales instructions
What do I find hardest right now about winning a sales instruction? The fact that lots of people think: my home will sell well anyway. So it doesn't really matter who does it. Then I'll go for the lowest price. Lately I've been asked very often whether I could do something about my commission. The others were much cheaper, and the home would sell anyway at this time. I then asked these people why they didn't go with that other party, but called me anyway. One by one, they said the conversation felt really good, that I gave lots of tips and that I took the time and wasn't rushed. Our enthusiasm and knowledge in particular were mentioned too. One by one, they understood that I couldn't lower my commission because I really do more, that that's what you pay for, and that in the end it shows in the sales result. Fellow agents also often tell us how nice it is that we promise to call back to pass on the client's response to their offer. And when all the offers are close together, we often give everyone one more chance to put forward a final proposal. We do what we say, and we say what we do.
We have the luxury of a big office, but we're a small office. Our lines are short. The ladies on the phone actively think along and can schedule with the five of them at the same time. They ask the viewers questions. They actively keep a reserve list, and if someone drops out they fill the gaps immediately. They note down all the viewers and the background info. That way they can fill slots with good reserve-list candidates first. So we always have good viewers. We take a bit more time. So that we can let people feel the house. So they can ask questions and feel at ease. Just think about it yourself. The less risk, the more trust. Then you dare to bid comfortably. This contributes to the best result.
Purchase instructions
Today I called a fellow agent to ask what a home had sold for. I nearly fell off my chair. The difference between the highest bidder and the second bidder was around €80,000. Sorry, but any idiot can simply bid lots of money. Surely you want good advice. We try to advise clients as well as possible based on data and reference sales. We often say: this is what it's worth. This is what you'll probably have to pay, and above that, let it go. Good and honest advice. Still want to bid more? Fine. But you've had the right figures and advice. Buying in this market is very difficult, but it's always good to make a well-considered decision. Knowing what you're doing: that's a lot more comfortable.
A bit of peace, attention and time? Count me in!
I can't wait: a bit more time again. Making beautiful plans. Yesterday I was making beautiful floor plans for a sale. I was thinking about the very best renovation before the sale. I can completely lose myself in that. A cost estimate to go with it, and the differences in proceeds. Real advice! Yes, that's what makes me happy.
