How can I convert valuations into listings more effectively?

As with any type of valuation that you're carrying out as an Estate Agent, online or in-person, there’s a great opportunity to convert potential sellers into actual sellers early on in their journey. So, what’s the best way to win these listings as we approach the summer period?

Do your homework

Remind yourself of the basic information about the property. Whether you or someone else in your team completed the valuation or SmartVal, you should head into a follow-up conversation aware of the property and valuation figures.

Follow up (quickly)

Once you’ve accepted and completed a SmartVal, we release the customer’s contact details so that you can follow up quickly and easily. Your brand makes a good impression by contacting them within the first couple of hours of the SmartVal delivery. It’s common for people to end up doing business with the first agent they speak to, so a fast response is crucial.

If you’re out and about or otherwise detained, at the very least, send a text or email. That first point of contact is central in succeeding with that lead.

TOP TIP: If, while having a conversation with the homeowner, you establish that they're not quite at the point of wanting to sell yet, use this opportunity to set a calendar reminder to call them 3 months from now. Keep the conversation light, and take interest in their personal life, as well as the property. If you start the follow up in 3 months time with "How is football going?" or "You mentioned you were just about to get married - how was your honeymoon?", you're more likely to emotionally connect with them. Why not add these little details to the calendar reminder too?

Ask open-ended questions

In your first conversation with a seller, show an interest in them, not just the property. Ask about their current status in the market and their desired outcome. A first-time seller may need a more guiding hand than a seasoned seller, and asking questions is a great way to deduce the support they need.

Discuss the valuation

Now is a good time to ask for their thoughts about the valuation they received. Was it the figure they had in mind? Explain why you chose that specific range and share factual data, including market data and recently sold homes in the area, to support your valuation. You may want to revisit the range and suggest that a full house valuation is the next step in determining their home’s value.

Gareth Overton, Partner at Henry Adams, spoke to us about his experience and said "They don't always convert there and then, but this allows us to put them in our marketing machine and stay in touch. One hopes we can convert them in the not-too-distant future." Click here for the full interview.

Offer tailored support

Using the details the homeowner gives you, tailor your support to suit them. There’s a big difference between rattling off your agency’s achievements and telling the homeowner relevant information that allows them to confidently make the decision to work with you. As you continue to follow up on online valuation leads, you’ll get a better feel for what each lead needs.

Be different (and prove it)

It’s possible that they requested SmartVals or valuations from up to 3 agents, which means 2 other agents are looking to win the instruction. With this in mind, how will your agency stand out from the crowd? Utilising your USPs and their individual situation, explain how you can assist them.

Perhaps you sold a home recently on the same street. Or maybe you’re well-versed in selling end-terraces like their home. Perhaps you’ll make a note to call them back next week once they’ve talked it over with their partner. Be receptive to their needs.

Practise makes perfect

The two most common objections raised by landlords and sellers are property pricing and commission rates. Prepare and practise your responses beforehand so you know how to address and resolve any concerns.

Have you found any other nurturing techniques particularly successful when it comes to converting valuations into leads?