In this episode of the Estate Agent Showdown, Matt engages in a lively discussion with industry thought leaders Charlie Lamdin and Chris Watkins about the current state of the estate agency market. They explore whether the industry is broken or simply filled with ineffective agents, diving into statistics that reveal the challenges agents face in selling homes. The conversation touches on the impact of overvaluing properties, the importance of proper recruitment, and the need for a shift in incentives within the industry. Charlie shares a successful process for launching properties that focuses on creating a market rather than fixating on price, while Chris emphasizes the necessity of educating clients about market trends. The episode also addresses the controversial topic of house price predictions and the implications of "doom-mongering" in the industry, ultimately advocating for a more strategic and process-driven approach to real estate.

Key Takeaways

Industry Challenges: The estate agency industry is facing significant issues, including longer times to move house and decreasing fees for agents compared to 20 years ago. This indicates a broken system that needs addressing.

Incentive Misalignment: The current business models of many corporate estate agents prioritize financial services and conveyancing leads over actual property sales, leading to a lack of motivation to sell homes effectively.

Effective Pricing Strategy: A successful approach to selling properties involves not discussing price upfront with sellers. Instead, agents should focus on creating a market for the property through viewings and qualified buyers, which can lead to better offers.

Importance of Process: Establishing a clear and effective process for selling homes is crucial. This includes thorough market research, involving the seller in the pricing decision, and ensuring that the agent is skilled in managing the sales process.

Market Perception and Education: Agents should educate clients about the market and their unique selling process rather than relying solely on traditional pricing discussions. This can help build trust and differentiate them from competitors.

Social Links

YouTube: https://www.youtube.com/@mattgiggs

Instagram: https://www.instagram.com/giggsmatt/?hl=en

TikTok: https://www.tiktok.com/@giggsmatt

Linkedin: https://www.linkedin.com/in/mattgiggs/

Chris Watkins

https://www.linkedin.com/in/christopherwatkin/

Charlie Lamdin

https://www.linkedin.com/in/charlie-lamdin-4231054/

https://bestagent.co.uk/

Host Bio

Matt Giggs is a visionary property professional, industry leader, and the dynamic host of the Estate Agent Showdown Podcast. With 30 years of hands-on experience in real estate, Matt has built, grown, and inspired countless estate agents and businesses to reach new heights. Known for his no-nonsense approach and deep industry insights, he brings a fresh perspective to every episode, sparking candid conversations with top experts on the biggest challenges and opportunities in estate agency. Whether dissecting market trends or uncovering game-changing strategies, Matt’s passion for the industry and commitment to elevating professionals make him a must-listen voice in real estate.

This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/