It’s Official! We sell more property than other Coventry estate agents
Self-praise is no praise, we know that.
But when Vizzi Homes (independent market researcher) told us how well we were doing compared to other Coventry estate agents we had to share it with you.
Why selling your property with Merrick Binch Coventry Estate Agent is the right choice
Vizzi Homes produces quarterly results on how well Coventry estate agents are doing with advertising properties.
We sampled five estate agent firms including ourselves. The other estate agents we have named Competitor A,B,C and D (to save their embarrassment).
The report showed that this quarter we had 99 properties with For Sale signs in Coventry. Of these 52 had been updated as SOLD SUBJECT-TO-CONTRACT, with 47 for sale.
Competitor A is our nearest geographical competitor in Earlsdon. They have 213 properties with a For Sale signs. Of these only 61 were sold subject-to-contract.
Why you should avoid estate agents who CANNOT sell
In plain English, anyone placing their property with Competitor A is advertising their property with a firm that finds buyers for only 28% of its advertised stock (61 properties sold from a total 228 For Sale Boards).
At Merrick Binch we consistently convert over 50% of our board count.
Why does this matter?
In all the years I have worked in estate agency I have seen the same time wasting approach to selling property: sign up as many properties to sell by making promises that cannot be kept.
This approach is madness because you deserve the best chance of selling your property quickly and for the best possible price.
Ask yourself: Do I want an estate agent who can demonstrate statistically its ability to sell my property quickly and for the best possible price?
Clearly the answer is yes. And here is why:
Competitor B has a total of 169 properties in Coventry for sale. Of these only 33 have sold, this is a sold rate of a terrible 19%.
At Merrick Binch, remember we have a conversion rate of 52%.
Why some estates are so poor at selling
You should expect either very few viewings from Competitor B because the valuation is off the mark. Or you will have the wrong type of viewers coming into your property. This is a disruption to your life particularly if the property is your home.
You should ask your estate agent for their conversion rate of sold properties against their for sale stock list. Anything less than 50% is unacceptable.
To be fair Competitor B mentioned above is based three miles away (we don’t want to embarrass them here, but I am are happy to show you the independent statistics in our office and their names).
So we looked at Competitor C who is also in Earlsdon. Competitor C of Earlsdon has a staggering 305 properties for sale and of these only 73 are sold. This is a conversion rate of 24%.
Estates Agents who take on too much means trouble to you
Competitor C has 305 properties on its books and only sells 24% of them.
I have seen this before and it is a terrible mess to manage. The staff will be taking calls and making viewings on these properties which means that everyone is neglected because the staff are spread too thinly.
It simply is not possible to look after all these properties and customers effectively because less than one in four will sell.
Why are some Coventry estate agents selling so few properties?
There are many reasons for this but are the key three:
- The estate does not know how to value accurately your property.
- They are frightened of telling you the truth about this market (this happens even when the market is booming) and will list your property at an inflated price.
- They simply do not understand the housing market probably because they are inexperienced or have never been trained.
What happened to Competitor D?
Competitor D is a well know Coventry estate agent.
They have 228 properties for sale and the recent report confirmed that they sold 41% of their listed stock. That’s more like it.
Why Merrick Binch should be your choice of Coventry estate agent
For the past 15 years I have worked with the best estate agents in Coventry.
I have seen some great results where properties have sold for the best possible price and quickly. I have also seen some terrible examples of how to (or how not to) sell property.
My focus is on selling property that can be sold for the best possible price as quickly as possible.
My team is trained to use the latest technology to value your property. Combine the technology with our experience shows in our excellent 52% conversion rate.
Book us to value your property and let’s get your property sold! Remember you will get £100 off our professional fee.