Instant valuations are a fantastic way to generate a steady stream of new enquiries to your estate agency. Learn what to expect and how to convert them into new business
For many local vendors, an instant valuation will be one of their very first steps towards putting their property on the market, making it an incredibly useful time to put yourself and your agency front and centre in their mind.
As instant valuations are a low cost, light touch way of getting an all important foot in the door with potential new business, it’s important to understand what to expect (and what not to expect) from these enquiries, as well as how to nurture them into becoming fully fledged instructions.
The single most important thing for any agent to do when an instant valuation enquiry comes in is to contact the prospect as soon as possible while your business name is fresh in their mind.
We advise all of our estate agents to strike while the iron is hot and pick up the phone within 24 hours for the best chance of progressing a new lead.
If the valuation figures are out, even better
It might sound counterintuitive, but Rightval’s primary purpose is to generate new enquiries. We know full well that no-one (especially a computer) knows your local area as well as you do, so if you feel the figures you see quoted are too low, this is a fantastic way to sell in your experience and knowledge to progress the lead to a full market appraisal.
Contact details incorrect? All is not lost
From time to time, you may find the contact details a vendor has provided aren’t their real details (we’ve all done it when we’re just browsing for a product or service). The one thing you can bet on however, is that the address is correct.
If you periodically flyer the local area, make sure these addresses are on your hit list. Seeing your branding a second time makes a vendor far more likely to remember your name and pick up the phone to follow up.
Nurture, nurture, nurture
Whilst it would be fantastic if all instant valuation enquiries converted into instructions within a few days, the nature of these leads means it can be a longer game.
If you have a regular email mailing list providing market and property news, add these prospects to it and stay in touch. (Rightval can do this automatically for you). If you don’t have a mailing list, it’s time to get one!
Staying in touch with your enquiries makes it far more likely they’ll contact you first when they’re ready to instruct an agent to sell their property.
Are you getting the most from your tool?
When marketed correctly, an instant valuation tool is an incredibly effective, low cost way of attracting a steady stream of new enquiries to your business.
Paid advertising via social networks is by far the best way to accomplish this, however learning the ins and outs of Facebook Ads is a time consuming process, and if not done correctly, can have a negative impact on your marketing budget.
In addition to Rightval’s instant valuation tool, we offer Rightval Managed. A simple, all-in-one package that includes the valuation tool, up to £100 of paid advertising spend and a named Rightval account manager to set up, launch and manage your ads with the aim of generating a minimum of 20 instant valuation enquiries per month.
All of this is available for just £199 + VAT per month. To request a callback and find out more, simply visit https://rightval.com/callback
Did you know Rightval now offers a fully-managed instant valuation enquiry service? Our team of experts set up your valuation tool for you and run targeted, high performing digital ads to drive new instant valuation enquiries to your business all for a fixed fee that includes your ad spend.Find out more