"Happy Christmas and a prosperous New Year"

"Happy Christmas and a prosperous New Year"


As 2013 nears an end, it is time to review your processes and practices to make sure they are finely tuned. That way, you'll ensure your 2014 is indeed as prosperous as possible. We trust the articles in our final 2013 newsletter will help you do just that!

Happy Christmas

The Guild of Professional Estate Agents Enhanced Training Programme provides subscribers with 40 online training modules in a calendar year as well as training course support. It has received rave reviews from companies and individuals all over the country. If you are interested in this fabulous training solution, please contact your local Guild representative.



 



Our other new project, Estate Agency All Stars, sources the best trainee negotiators and provides them with an intensive training course before they start work with their sales or lettings agency employers. The feedback to this innovative recruitment model has been amazing - one estate agency owner said his All Star was 6 months ahead of previous new starters because of the training programme. Do get in touch if you need new trainee negotiators or indeed if you have already employed newish young recruits who you feel would benefit from the All Stars training programme.







 
As 2013 nears an end, it just remains for me to wish all our client firms a very merry Christmas and a healthy and happy 2014. We look forward to working with you again next year! 













A stitch in time…

One of the key areas of training this year requested by my clients has been in bolstering negotiators’ ability to put quality sales together and to maintain a low cancellation rate. As a result, these clients are reporting considerably stronger performance in those disciplines and thereby a protection or increase of income levels.

 

There were a whole range of tips and techniques that focused on agreeing a higher volume of agreed sales, in particular an exercise on the critical nature of “creative thinking” in dealing with hot buyers when nothing on the available register seems suitable for them. This session typically spawns in excess of twenty ideas that can be quickly (and cheaply!) implemented.

 

However, a great deal of training time was also devoted to arresting the number of deals falling through and failing to reach exchange – a problem which obviously leads to frustration and dented morale.

 

One of the key areas many agents need to improve upon is the quality of the manner in which the sale is initially negotiated. This can often be compromised when negotiators are over eager to book a sale too quickly.

 

Examples I have discovered include a cancelled sale that cost the firm in question &3800 in lost commission.

 

The viewing on the property had been unaccompanied by the agent, and the purchaser had been left with the impression that the vendor would leave, amongst other items, the curtains.

 

Upon receipt of the detail of fixtures and fittings via his solicitor, the purchaser was dismayed to discover that the vendor was actually planning to remove all the curtains from the property.

 

When contacted by the agent on this matter, the vendors conceded that at the viewing, they had referred to the curtains staying but only “for the right price”. The accepted offer had been several thousands of pounds below the asking price, and as fixtures and fittings had not been discussed with either party by the negotiator, both vendor and purchaser incorrectly assumed the detail of the deal. Unfortunately, their two assumptions were entirely different from one another!

 

The resultant fallout led to the classic “matter of principle” problem which the negotiator failed to resolve, leading to the two parties’ fixed unwillingness to proceed with the transaction on the other’s terms, and thus to an unnecessarily abortive sale.

 

The simple principle of ensuring clarity of fixtures and fittings at the point of negotiation could have avoided this costly scenario.

 

Indeed, a broader adoption of complete unambiguity of the quality of the potential sale at the outset has halved the cancellation rate for one of my clients.

 

Previously, they had lost sales through irreconcilable timescale differences between parties, which should have been established far earlier in the process. Clearly, there is little point in booking a chain of three sales where two parties must complete before the end of February, whilst the first time buyer is unable to move until May.

 

In another case, failure to identify the absence of probate being granted on the property at the top of a chain led to a delay that resulted in the buyer going elsewhere. Such basic lack of attention to important detail by an agent is inexcusable.

 

There were yet more examples of failed transactions where insufficient qualification of the facts caused insoluble problems – lack of ability to buy due to the failure of the agent to introduce the buyer to a financial adviser, negligence in spotting the clues presented in a complicated matrimonial situation and the wrong assumption that a prospective buyer in rented accommodation had no related sale to name but three.

 

Whilst there is a natural adrenalin rush on the part of the agent as a new sale is being negotiated, this must be tempered by adhering to “best practise” principles of a few minutes reflection on the importance of being in possession of all the key information, ensuring that the sale is of an appropriate quality to justify the agents’ understandable excitement.

 

An hour’s effort and diligence in establishing chapter and verse on a potential sale in the first instance can avoid days of fire fighting later in trying to hold it together.

 

The acid test is to consider this – if you were the owner of the property in question, would you be happy to agree a sale to this purchaser and to remove it from the open market with confidence that the deal will go through?

 

It is doubtful whether a sale has ever crashed due to the negotiator gathering too much information at the outset, but it is certain that many sales have done so due to gathering too little.



TM training & development exhibits at National Estate Agency Conference

 

TM TRAINING & DEVELOPMENT EXHIBITS AT NATIONAL ESTATE AGENCY CONFERENCE

 

 

TM training & development attended the 20th Annual Relocation Agent Network Conference, exhibiting at the event’s trade exhibition. Held on Friday 15 November 2013, at the Park Plaza Riverbank Hotel in Central London the event has become one of Britain’s most prestigious estate agency events.





Exclusively for Relocation Agent Network members, the Conference includes some of England, Scotland and Wales’ leading independent estate agents, each handpicked by the Network to represent them in their local markets.

 

Open throughout the conference day, TM training & development  were given the opportunity to meet all attendees. The trade exhibition gave delegates an opportunity to discover the latest products and services in every area of estate agency including those provided by TM training & development.

 

This year’s event marked Relocation Agent Network’s 20th National Conference. To celebrate, the day ended with a glittering black tie Awards Dinner. The sold out event was hosted by comedian and television presenter, Dara O Briain. Endorsed by leading UK relocation magazine Re:locate, the night’s most coveted prize, Relocation Agent Network’s Agent of the Year was awarded to TM training & development's parent company Thomas Morris from Cambridgeshire who were judged to be the agent who have most excelled in leading the field of UK estate agency and network standards.

 

Julian O’Dell commented, “The Relocation Agent Network Conference is attended by some of the UK’s best estate agents and is a great opportunity for us to catch up with current clients, show them our very latest products and services and also present our offering to prospective customers.”

 

The Conference award winners were:

1.  Employee of the Year - Karen Rowell (Hilbery Chaplin)

2.  Best Agent Regional Award

   - Central: Richard James

   - Cheshire & North Wales: JB & B Leach

   - East Anglia & Essex: Thomas Morris

   - East Midlands: Pygott & Crone

   - Greater London: Gibbs Gillespie

   - North East: Michael Poole

   - North West: Ryder & Dutton

   - Scotland: Maloco & Associates

   - South Coast: Sparks Ellison

   - South East: Brock Taylor

   - South Wales: FBM

   - South West: Webbers

   - Thames Valley: Romans

   - Yorkshire: Chris Clubley

   - West: Heritage

   - West Midlands: Hunters

3.  Customer Relocation Award:

  - Category A: Romans

  - Category B: Webbers

  - Category C: Thomas Morris

  - Category D: Gibbs Gillespie

  - Category E: Heritage

  - Category F: Brock Taylor

  - Category G: Graham Butt

  - Category H: Gregory Brown

  - Category I: Roseberry Newhouse

 

4.  Lettings Referral Award - The Frost Partnership

5.  Agent of the Year - Thomas Morris



Are you breaking the law?

We are running a training course on CPR on the 18th December 2013 at our Eaton Socon, Cambridgeshire office.The session runs from 9.30am to 11.30am and costs &65 plus VAT per delegate. To book please contact us on 01480 405583 or email us at admin@tm-traininganddevelopment.co.uk. Places are limited so please book early to avoid disappointment.



2014 Tour Dates

Those dates and course details in full are...

Wednesday 5th February Central London -

Wednesday 19th February Coventry -

Wednesday 26th February Bristol -

Tuesday 4th March Manchester -

Thursday 13th March St Neots, Cambridgeshire -

Wednesday 19th March Fleet, Hampshire -

 

                 "Gaining Instructions from Vendors and Landlords This Autumn"  (morning session).

                 “How To “Outsell” Your Competition”  (afternoon session).

  Details of the course content:  

"Gaining Instructions from Vendors and Landlords This Autumn"  (morning session).

*The characteristics of an exceptional lister. * Generating instructions. * Preparing to make your appointment exceptional.      * Gain agreement to your valuation. * Presenting your companies services. * Justifying fees. * Dealing with questions and objections. * Closing instructions – Making the most of current stock. 

 

“How To “Outsell” Your Competition”  (afternoon session).

* Selling skills self-assessment.  * Preparing to sell.  * Exceptional applicant qualification.  * Promoting properties through effective phone outs.  * Viewings that work. * Generating Offers  * Dealing with barriers to sales.  * Supporting the listing operation.

  

Each session costs &99 plus VAT per delegate; however delegates booking both sessions at the courses will get a reduced rate of &170 plus VAT to include lunch.

To book or for more information contact us on 01480 405583, email us at admin@tm-traininganddevelopment.co.uk or visit our website http://www.tmtraininganddevelopment.co.uk/online-booking.php

 



Thought for the day....

Every contact we have with a customer influences whether or not they’ll come back. We have to be great every time or we’ll lose them.
Kevin Stirtz