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The Hidden Message!

Sold in one day

Currently the UK property market can be fairly described as over-heated, and this is leading to several estate agents posting to boost new listing instructions with a very typical boast. The ‘boast’ goes something like this: ‘Sold in 1 day’ ‘Sold within 24 Hours of listing’ sometimes with ‘above asking price’ etc.

Whilst this approach may entice a new client towards obtaining a market appraisal / instruction the hidden messaging these types of posts send out generally damage the public view of estate agency overall.

What are those hidden messages the public may think/feel when reading such posts? They are likely to be:

1. Estate agents are over-paid – picked-up a fee of £X,000 for 1 day! Greedy & lazy.
2. Did they really achieve the best price if they sold so quickly?
3. Agents only care about getting a sale – not about getting the best price.
4. How, is that a professional service worth paying £X,000?
5. If it is so easy to achieve a sale so quickly – why do I need an agent?
6. If it sold over the asking price – was the agent knowledgeable/professional? Aren’t they supposed to ‘know the value’?
7. Was the agent/vendor just lucky?

Rarely if ever do such posts continue to state the huge amount of work or effort, in preparation, social media/portal feeds, enquiry handling, property viewing and buyer vetting that led up-to the quick ‘sale’. Also, they never attempt to explain the phone calls, emails, data entry, chasing a chain and organising that will inevitably follow on from the agreed sale.

They also, rarely explain that in a fast-moving market an estate agent is the one who is best placed to negotiate and obtain a better than anticipated sale price. And they never acknowledge that luck may have played a role (a little humility is often more attractive than a self-serving boast).
These posts generally fail to balance agent vanity with agent reality, leaving the public with a perception of estate agency overall in an unflattering light.

When agents omit the trials and tribulations of their other property instructions, the ones that did not sell in one day or are yet still to sell! When they fail to explain the pitfalls of estate agency, the regulation and compliance hurdles, the fall-throughs, and withdrawals etc. They risk giving the public a skewed, one-sided perception of estate agency being a very comfortable, profitable, and easy bed of roses.

So, my advice to remove that hidden messaging is to balance successes with a description of how they have been achieved and earned.