28 Mar Do you have buyer?
When property owners call
In recent times, I have started getting calls from Singapore property owners who call me up and ask if I have buyer (or tenant) who is keen in their properties. If I told them that I was not helping any buyer or tenant with property hunting, they would either end the call immediately or in some cases, told me to contact their property agents to arrange for viewing if I have someone suitable (seriously?).
These property owners are indeed very hardworking but by calling up (& then hanging up), it also suggests to me that they either do not know how buying & renting work or they are really anxious about moving their properties.
How property buying and renting works
A property agent who is helping a genuine client (either buyer or tenant) look for a property will mainly be actively:
1) checking with fellow property agents who are marketing properties for sale or rent
2) checking property adverts & various types of networking groups to source for suitable properties
This property agent will not be sitting by and waiting for property owners to cold call them.
The effective approach to selling or renting out a property
Instead of calling up property agents to ask if they have suitable clients, property owners should be engaging a dedicated and competent property agent to help market their property so that the property can be properly represented and marketed in effective channels where property agents with genuine clients would be checking against. This would be a far better approach than cold calling property agents.
And if they have already engaged property agents to help them market their properties, it is very strange for them to be calling up property agents. I have thousands of property agent contacts but till date, I have never had any property agent call me up to ask if I have a suitable client. Why is this so? Because that is not how property buying or renting works. Cold calling property agents is probably the least effective way to secure a buyer or tenant.
Are you a property owner too? Have you been cold calling property agents too?
Photo credit: Flickr/David Goehring