A Guide to the Best Estate Agent Guide - How it's created and why it matters to your agency - EA Masters
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
A Guide to the Best Estate Agent Guide How it’s created and why it matters to your agency
Welcome to our But Froome’s Team Sky as it
was called back then, knew
guide to The Best the difference that the smallest
improvements to the way they
Estate Agent Guide go about their work can make to
(BEAG) and EA the overall result. They were the
best at finding those all-important
Masters Leadership competitive edges.
Conference, I believe, and the experiences of
Exhibition and those who have made the most
of the opportunity prove, that
Awards. being listed in The Best Estate
Agent Guide gives YOUR agency a
This is our third year working
winning edge.
alongside Rightmove to carry out
the biggest ever analysis of the It can be, and often is, the small
03 12
estate agency industry. difference between winning or
losing an instruction.
The guide shines a light on the
best branches and agencies for When I set up the Property
Welcome The Industry Event of sales & lettings. Academy in 2008, my goal was
the Year And our EA Masters Leadership
to help estate agency business
04
owners to run better businesses,
Conference, Exhibition and Awards
to foster and share best practice
13
event, provides a platform for
and ultimately to raise industry
industry leaders to share and
The Process receive information, insights, ideas
standards.
Cost Transparency and inspiration. And that’s why with the support
06
of Rightmove, we created the
It’s a huge undertaking and
BEAG, to help businesses fulfil
ow Agencies are
H 14
Has Your Agency
we’ve learned a lot from the
past two years. We’ve made the
process around creating the BEAG
their potential and achieve and
maintain high service standards.
Assessed simpler to understand and more I’m very proud of what our team
Made it? transparent. in association with Rightmove
has built and passionately believe
07
The Big Questions
“What’s the point
of the BEAG?”
that the BEAG is the best way to
discover who the best agents and
suppliers in the industry are.
INSIGHT I was asked by an agency owner
Answered why his company should take the
Being in it gives vendors and
landlords reassurance, agency
BEAG seriously.
The BEAG covers the owners and staff recognition, and
08
Six of the Best
whole of the market, is
independently assessed
The reason is simple yet
compelling.
is a fantastic way to highlight best
practices and raise standards
across the industry.
Consider this.
and transparent. Thanks for your time,
The 2017 Tour de France was won
09
The BEAG in Numbers
by Chris Froome. He had toiled for
three weeks, across 3500km, in
all weathers, spending on average Peter Knight
7 hours a day in the saddle and
ended up with a winning margin of
10
just 54 seconds.
When spread over the time spent
What’s in it for your
riding, the margin between first
and second place was tiny.
Agency?
03
The
Phase 1 Phase 2
Data Analysis Mystery Shopping
Process 1. Property Marketing
75% of landlords and 84% of sellers cite the agent’s
3. Customer Service
Our research also reveals a further factor that has a
ability to market their property as being a deciding
How the best
significant impact on instruction is ‘likeability and
factor when selecting an agent to work with.* trust’, which we measure via a two-step mystery
shopping process.
agents are We assess property marketing performance by
looking at every single listing and tracking:
identified % properties with 5+ photographs
% properties with a floor plan
Web Enquiry
art one of the mystery shop
P
Telephone Enquiry
Part two of the mystery shop
# detailed page views vs. average in patch is an email enquiry via is a telephone call – again
# leads vs. average in patch Rightmove. We make one we make one enquiry each
The Best Estate Agent Guide is
enquiry each for sales and for sales and for lettings.
a website which provides an
lettings and measure the
independent reference source for
2. Results response against a set of
sellers and landlords, who can search
objective performance criteria.
for the best sales and lettings agency 62% of landlords and 66% of sellers say that using
offices in their areas. an agent who has demonstrated an ability to sell or
let properties like theirs is a factor in their decision
over which agent to use in the sale or let of
How the BEAG their property.* The web & telephone enquiries measure response against a set
is collated? of objective performance criteria that consumers tell us trigger
feelings of ‘like and trust’:
There are approximately 1 million We monitor results by tracking:
properties listed on Rightmove, for % of new instructions in patch
sale or to let, at any point in time. Professionalism & courtesy
Did it sell / let?
The performance of every listing is Listening & understanding
Average days to sell / let vs. average in patch
analysed over a six-month period as Knowledgeable & informative
the first part of the assessment. Then Did it come back to the market?
(i.e. fall through) Responsiveness – handling queries
each branch is mystery shopped to
& requests quickly
give an indication of service levels
provided. From this, the top 20% of This analysis of listings performance makes up 80
branches are identified. The next step per cent of an agency’s overall score. In addition, we look for best practice in the following areas of
is to collate the scores and identify estate agency:
Based on these performance scores there is
the best estate agencies – the top
the equivalent of a golfing ‘cut’ where the best
3% are identified as winners of a
performing agencies (over 10,500 branches) go Proactivity
BEAG Award. The final stage is the
through to the next stage. Enquiry handling
announcement of the overall winners
at the EA Masters event on 10th Applicant registration
October 2019. *Source: Property Academy Home Moving Trends & Landlord
Surveys 2018 Service provision
Only the Top 3% of
The Best Estate Agent Guide Award Winners are identified by agency offices in
calculating the average score across all their branches based on the country make
a combination of data analysis scores and mystery shop scores.
it through to
INSIGHT
become BEAG
The BEAG is an From 1st November 2019 Your Award winners.
independently Rightmove account manager
verified assessment will happily share with you how your
identifying the agency performed. This information
INFORMATION
best agents in is given to you free of cost and can
provide valuable insights into your
the country. agency’s performance and areas Property Academy does not see a breakdown of the Rightmove results, so we do not
where improvements can know how each branch performed against each individual measure. We only know
be introduced. the overall score so that we can add it to the score of the mystery shop.
04 05
INSPIRATION
ow Agencies
H The Big Questions
We’re constantly improving the
Being listed in the BEAG way the BEAG and EA Masters
is great recognition for are created.
Part of that process is continually
an agency’s team and
are Assessed Answered
striving for total transparency.
motivates them to reach Here are the five questions we
even higher heights. get asked most.
Isn’t this just another All these industry awards I think my rivals down
way to make money from are the same, what’s different the road are useless how come
estate agents? about the BEAG? they got in the BEAG last year?
Rightmove carry out the data analysis Not all awards are created equally. That’s an opinion you’re entitled to, but
and provide individual feedback to their The majority of the others only attract our assessments are objective and in
BEAG members completely free of charge entries from a fraction of the industry, line with recognised best practices in
Trophy Winners and make no money from this initiative. (most less than 10% of agencies), the industry. By removing subjectivity
BEAG Property Academy carries out the mystery whereas the BEAG is the only whole as much as possible we have created
AWARD shopping exercise, provides individual of market assessment (over 25,000 what we feel is the best way of
branch performance results and branches and 15,000 agencies). assessing estate agency offices.
WINNERS
publishes and maintains the Best Estate It is free to enter and the structured
Winner of Winners Agent Guide website free of charge. assessments are based on criteria Can you tell me when the
Top 3% of Agencies Agents that see a value in promoting following research with thousands of
Top 20% of Branches
mystery shop telephone call
BEAG Award Winners their achievement pay a licence fee to people in the process of moving home on
was made?
Top 3% of estate agencies the Property Academy to do so. They what they want from their estate agent.
in the country may also purchase tickets to attend Rather than the views of a small We make all the calls during working
the EA Masters Leadership Conference, judging panel or a handful of positively hours, Monday to Saturday avoiding
Exhibition and Awards event. There is disposed customers, the BEAG is bank holidays. We can’t share the
no obligation to do either. compiled based on detailed analysis of exact date or time of your branch
data and professional mystery shops. assessment(s) due to GDPR, which
states we cannot share details that
BEAG Branch Ratings might reveal the identity of individuals,
Top 5% Exceptional Is Rightmove sharing sensitive such as when we made the call or who
Top 10% Excellent data about my agency with answered it.
Top 20% Highly Rated Property Academy?
No. Rightmove provides us with the There are plenty more answers
agency name and branch location to your questions covered in our
PHASE TWO details plus an overall score for the data comprehensive FAQ section on our
Property Academy
assessment for those branches that have website. To view visit:
Mystery Shopping Carries Out and
the potential to make the top 20% of www.eamasters.co.uk/faqs/
Analyses Responses to branches and/or the top 3% of sales
Telephone Enquiries and lettings agencies.
7,500 branches
Property Academy
Submits and Analyses
PHASE ONE Responses to Web
Data Analysis Enquiries
10,500 branches
INSIGHT
Rightmove
Analyse 3 Billion Data Acting upon feedback is essential for estate agencies
Points Over 6 Months
25,000 branches
that want to grow – reviewing the mystery shops
and data analysis we have carried out can help
highlight systems and processes that can be
improved within your agency.
06 07T
Six of The BEAG
A lot of hard work and time
goes into assessing the whole
of the estate agency market to
create the BEAG.
The Best in Numbers Here are some numbers that
show the scale of the project.
If your agency is selected to
Winning Instructions PR and Marketing
0 15
be in the Best Estate Agent
Guide it opens an array of “Being able to say that our “Promoting our rating in the There is no charge for entry into
opportunities for your business. service and delivery levels have Best Estate Agent Guide was our the assessment or to be listed Agency brands assessed.
single most successful marketing Charge on the BEAG website.
Thousand
been assessed by the Property
Academy and Rightmove and campaign of 2018.”
found to be the best in our area
1 20
has been a deciding factor when Karl Judd
securing new instructions.” Ashtons The largest analysis of the
Mystery shops are carried out.
estate agency sector.
Analysis Thousand
Katie Darlow
Roberts Estate Agents
Fee Confidence Independent 3 Awarded for Property
Marketing, Results and 25 Individual offices assessed.
Accreditation
Customer service.
“The Best Estate Agent Guide is Areas Thousand
Send out a the only accreditation endorsed “These accreditations are the
powerful by Rightmove – a brand most credible in the industry
1
consumers trust. This has
message to your and send a powerful message
enabled us to increase our fees,
6-8
The assessment is carried out over
of confidence to our franchisees
prospects – whilst growing market share.” and customers.”
a six - eight month period, meaning
that agents recognised in the Best
1 million properties listed on
Rightmove at any point in time.
Million
you’re the best Months Estate Agent Guide have proved
themselves over a sustained period.
of the best. Ian Preston
Preston Baker
Kate Toland
The Property Franchise
25
Group
Team Culture Staff Motivation
20
Percent
We identify the top 20% of branches
for sales and lettings, rate them as
exceptional, excellent or highly rated
and list them in the BEAG. Million
25 million leads are included
in the initial analysis.
“It has meant we have attracted “Being independently recognised
a higher level of staff and as one of the best agencies in
retained the talent in our
existing team as we’re seen as
an employer of choice.”
the country has given such a lift
to our team and shows them
their hard work, passion and 500 We take the average score of all
branches belonging to an agency to
3 That’s right – 3 billion data points
are assessed during the process
including property listings,
identify the winning agencies and Billion floorplans, number of clicks to
commitment doesn’t Winners honour them at the EA Masters event. details and the number of leads.
David Elliott go unnoticed.”
The Frost Partnership
Simon Bradbury
Thomas Morris
INSIGHT
IDEAS
The Best Estate Agent Guide is
You can shine a light on your achievement and provide independent proof of the most comprehensive and
your superior service by purchasing a licence - providing you with access to The definitive assessment therefore the most valuable
more than £5,000 worth of marketing material. of the Property Industry property award scheme.
08 09What’s in it for
Your Agency? Window Displays
Winning a BEAG Award gives an Agencies that see the value of We send you window transparencies for you to display
agency the ability to demonstrate promoting their branch rating(s) or in your branch office(s).
to potential sellers and landlords their overall agency (if they are a
that they are better than the rest BEAG Award Winner) can purchase
on the things that matter – a licence to enable promotion of
marketing, results and service. this incredible achievement, which
includes a marketing and branding Print Design Templates
toolkit worth more than £5,000.
We provide you with access to the BEAG toolkit – a
re le
ed
ag a
selection of print design templates including window cards,
S
window banners, posters and direct mailers complete with
targeted address data, that are automatically updated to
include your logo, contact details and award success and
Official Logos
that you can purchase easily online.
We provide you with your winner’s marks and branch ratings so that you can
display them in all your marketing.
PR Templates
We send you sample press releases that you can share
with local press and on your social media to promote
your success. Wednesday October 11 | 2017 Advertorial FEATURES 51
Agency Awards A true mark of excellence
Local estate agent, Maddisons Residential, celebrate yet another prestigious award win
Branded Video
went one better by being ranked as one of the top
100 estate agents in the country.
Indeed, Maddisons Residential are ranked as the
number 1 estate agent for sales in Tunbridge Wells.
The new guide, founded by The Property Academy
and supported by Rightmove, wants to improve
business performance and allow greater transpar-
ency for buyers, sellers, landlords and tenants, in
assessing which agents deliver the highest levels of
customer service and achieve the best results for
We also provide you with a branded video, which you
their clients. Over 26,500 estate agents underwent a
comprehensive mystery shopping exercise, in which
they were covertly assessed on response times to
viewings, the quality of their internet listings, staff
knowledge on the properties that they were selling,
the speed with which they sold a property and the
can use on your website and social media channels to
number of properties that were withdrawn from
sale. On all of these measures, Maddisons scored at
the highest levels.
‘At Maddisons, we go the extra mile
for our clients in areas that we know
help explain how your result in the Best Estate Agent really delight them’
A
t the end of September, estate agents from
around the country gathered to attend the Deborah Richards, Managing Partner and founder
inaugural Best Estate Agency Guide award of Maddisons Residential, spoke of her delight in
Guide provides credible independent proof of your
ceremony at the O2 Intercontinental. Every receiving this top honour: “For me, the measures of
estate agency branch had already been assessment are what every seller or landlord should
notified if they had made it into the top 20%, and all were feel their agent is delivering as a minimum. At
now keen to hear whether their final ranking was either Maddisons, we go the extra mile for our clients in
Highly Commended, Excellent or Exceptional. It turned areas that we know really delight them, for example,
out to be an absolutely fabulous result for Maddisons the quality of our viewings and the feedback we
superior service.
Residential, based on The Pantiles in Tunbridge Wells, provide, the weekly updates that our clients receive
who received the top accolade of Exceptional, and then on the progress of their property’s sale, the different
strategies that we consider and debate when taking
a property to the market, the tenacious and hungry
nature of our negotiation process, and the depth of
our sales progression, which ensures that as many
offers as possible make it through to completion. It
is this constant desire to do better that has resulted
To view an example of a branded BEAG video, please
in most of our business coming from existing client
referrals and resulting in the loveliest testimonials.
People often pop into our premises on The Pantiles
and say how different we look to a traditional estate
agent, and they are right. Quite simply, we look
different because we are different.”
visit www.beagtoolkit.co.uk
The future for Maddisons is looking very bright.
They have now fully launched their lettings’ proposi-
tion, in which they deliver the same levels of extreme
customer care and focus to their tenants and
landlords. Deborah continues, “next year, I expect
Maddisons to be number 1 in Tunbridge Wells for
sales and lettings! There’s no rest for myself and my
fabulous team just yet!”
If you have a property to sell or let and want a
fresh and passionate approach, then do give
Maddisons a call on 01892 514100, or pop into
their lovely premises on The Pantiles. The team
Certificate
will be delighted to help, and you’ll feel the
difference immediately.
We also provide a certificate that you can display in your
branch office to help recognise your team’s performance.
Branch Ratings
Online Recognition
Enhanced presence on www.bestestateagentguide.co.uk
We enhance your listing in the Best Estate Agent Guide – an
independent reference source for landlords and vendors to
find the best agent in their area.
10 11I’ve attended
all the industry
The Industry conferences and
awards and the
Cost
Event of the Year EA Masters is
in a class of Transparency
its own.
EA Masters Leadership Conference, BEAG Licence to promote your success
Neil Dowsett
Exhibition and Awards Frost’s The Best Estate Agent Guide 2020
A listing in the BEAG is
free; to promote your Agency Size Set-Up Per Branch Pa
inclusion effectively you’ll
need to buy a licence. Single Branch £1,200 + VAT -
The licence is accompanied by a Small (2-5 branches) £1,600 + VAT £100 + VAT
toolkit worth more than £5,000.
Medium (6-20 branches) £1,800 + VAT £100 + VAT
The EA Masters Leadership This year’s event promises to be Large (20+ branches) £2,000 + VAT £100 + VAT*
Conference has gained a big our best yet and will feature. *Capped at £4,500
reputation in a short period Inspirational speakers from
of time. the estate agency world and Tickets to attend the EA Masters
Our event attracts more than beyond and panel discussions
EA Masters Leadership Conference Exhibition and Awards
1,000 property professionals and with the brightest minds in
Battersea Evolution, Battersea Park, London.
is renowned for being a platform the industry.
where business changing ideas, The Innovation Hall where
insights and stories are shared. EA Masters 2019 takes place on VIP Ticket Gold Ticket Silver Ticket
more than 50 of the industry’s
Thursday, 10th October and is Limited Availability
In keeping with everything most forward-thinking
co-hosted by Property Academy’s Full day ticket with Full day ticket with Access to conference
the Property Academy does suppliers will be showcasing
Peter Knight alongside highly- access to exhibition, access to exhibition, and exhibition only.
the event’s focus is on raising their products and services.
regarded TV presenters Gabby conference and awards conference and awards.
standards across the estate Several of the exhibitors will PLUS premium seating
Logan and Jonathan Davies.
agency industry and helping be launching new services and copies of speaker
estate agents run better and ideas. It is the industry’s major event slide-decks.
businesses. delivering information, insight,
An opportunity like no other to
ideas and inspiration from thought
Gabby Logan will be hosting the network and learn from your Earliest Bird Earliest Bird
leaders of the property industry,
event for the third year running peers who share a mind-set £299 + VAT £249 + VAT
business and world of sport.
joined by fellow TV presenter of continually pushing their Ends 19th July 2019 Ends 19th July 2019
Jonathan Davies. Full details of agency forward. You will leave the EA Masters with
the world class speaker line up a wealth of powerful tactics and Early bird Early Bird
An awards ceremony shining a
can be found at examples of proven strategies £349 + VAT £299 + VAT
spotlight on the best agencies
www.eamasters.co.uk for both overcoming challenging Ends 26th July 2019 Ends 26th July 2019
across the industry.
conditions and how to take
your business forward faster to Full Price Full Price Fixed Price
profitable growth. £399 + VAT £349 + VAT £249 + VAT
The event has sold out every 10% discount for 10% discount for
year and the limited number of 5+ tickets 5+ tickets
special priced early bird tickets are
sure to be very popular so book
yours ASAP! INSPIRATION
As a BEAG award winner, you’re one of a group of
INSPIRATION truly distinctive agents that really stand out from
the competition. The status cannot be applied for or
The theme of EA Masters 2019 is ‘Fast Forward’ and A watershed bought – it is awarded on merit. Join us at the EA
is focussed on ideas that agency leaders can take Masters Leadership Conference, Exhibition and
conference!
away and implement into their businesses quickly Awards event to discover if you will be crowned
and successfully to move them to the next level. Greg Barnes winner of winners.
Breckon & Breckon
12 13Has Your
Agency
Made It?
Has your branch
made the Top 20%?
Is your agency in the
Top 3% and a BEAG
Award Winner?
Could you be one of
the overall winners
at the EA Masters?
Be the first to find out, secure your place at EA Masters
2019 www.eamasters.co.uk/tickets/
Thanks for reading and if you have any questions please
check out our FAQ page at: www.eamasters.co.uk/faqs/
or get in touch with us below.
The Property Academy Team
sarahkemp@propertyacademy.co.uk
01372 372 372
INFORMATION
For weekly information, insight, ideas and inspiration (four-i)
on how to fulfil your agency’s full potential, sign up for our
four-i newsletter at propertyacademy.co.uk
14You can also read
