First and foremost, sales progression is important for providing a great service to your customer and building a strong relationship with them. As an estate agent, it’s important to keep everyone informed at every stage to help ensure sales progress quickly and don’t run into any unforeseen delays or issues, wherever possible. Keeping your client in the loop and chasing on their behalf will help to build their trust and encourage positive reviews and word of mouth recommendations later on – which is one of the best ways to ensure you are generating new business consistently.
As an agent, you will know only too well that if the sale doesn’t complete, you don’t get paid, so it really is in your best interest to keep the sale moving forward as much as you can. Effective sales progression can help you to convert as many sales in your pipeline as possible and boost your bottom line, meaning you can reap the rewards much sooner. Fall throughs are a growing problem, with over 300,000 house sales falling through in 2020, a 12% increase from the year before. Transaction times are also particularly high, with the average sale taking 126 days from offer to completion– so it’s never been more important for agents to do everything they can to keep sales moving.
Agent Grace Wilkinson of Anthony Jones Properties says: “We don’t get paid until the deal is completed. Getting a sale agreed is the easy part but it’s during sales progression that the niggly problems emerge. To overcome those problems requires a really strong relationship with the buyer and seller. It’s the agent, not the lawyer, that has the relationship with both sides.”
What does great sales progression look like?
So, we know that it’s important, but what does good sales progression look like?
Clear and consistent communication from the outset
Maintaining regular communication with your buyers and sellers helps to reassure them, ease any concerns they may have about the process and build their trust.
Managing expectations of the clients
Explaining the process, what it involves and how long it usually takes can prevent unrealistic ideals or unnecessary chasing and sets out a clear path to completion.
Defined roles and responsibilities
Outlining clear roles and responsibilities with your buyers and sellers at the beginning of the process ensures that everyone knows what they need to do to progress the sale, which can help to prevent blockers along the way.
Collaborating with other parties in the chain
Communicating with other agents and solicitors in the chain helps you to build a complete picture of what is happening at every stage, enabling you to spot any potential problems early on and provide your buyers and sellers with more accurate updates.
Joining the mio community connects you with like-minded agents, as well as the buyers’ and sellers’ solicitors, allowing you to see their updates if you have properties in the same chain.
How can agents improve their sales progression?
If you’re looking to improve your sales progression, we recommend focusing on three key areas: trust, training and tools.
Fostering positive relationships between all parties is really powerful when it comes to sales progression. Closer collaboration with other agents in the chain, as well as law firms and mortgage brokers, allows you to get updates more quickly and work together to progress the sale, ensuring a more positive customer experience and more effective sales progression.
The more estate agents work together instead of against each other, the better the outcome for all involved! As former agent and founder of The Able Agent, Charlotte Jeffrey Campbell puts it –“We’re all trying to achieve the same goal,”.
Training your team on sales progression and creating a consistent process for all to follow can help to establish a uniform system and create a better customer experience for your buyers and sellers. Setting out a clear process to follow can also help to prevent mistakes and make it easier to train new starters.
There are clear stages to efficient sales progression. Establishing these and agreeing the most effective way to handle each step will ensure you get your buyer and seller to completion as soon as possible, and hopefully with a positive experience.
Having tools to help you manage key processes is vital for any estate agency.
mio is a sales progression platform for estate agents that makes effective sales progression simple. With intelligent user dashboards, clear milestones and visibility over the entire chain for all parties involved, as well as automated data feeds from solicitors, mortgage brokers and surveyors, mio saves time – so you can progress sales efficiently, faster.
The award-winning consumer app and instant messaging feature also allows for greater transparency for your buyers and sellers, resulting in higher customer satisfaction.
Learn more about how it works here.
How does mio help agents with sales progression?
Check out what estate agents have to say about mio!
“mio has helped with sales progression because it alerts me to things that I may otherwise miss and helps me keep track of what was meant to happen when. Having clear dates and deadlines on milestones means everyone in the chain has to be more accountable.” – Kerry Egan, Senior Sales Progressor for Palmer Snell and Austin & Wyatt
“With mio, sales progression is made simple for those who may not know the complexities or legalities of the conveyancing process. Whether you’ve been practicing sales progression for many years or are new to the industry, with mio, you can see what’s coming up next in the process which helps get things moving. mio just makes the process completely seamless,” – Donetta Holland, Robinson Reade.
“Even though I know the sales progression process really well, I do really like being able to tick boxes off, and you always know what’s happened and what’s next. I think it’s definitely the way forward for estate agents – I would recommend it to anyone!” -Jasmine Crispin-Vile, Cooksleys
Want to improve your sales progression? Book your free demo today.