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diff erences we off er especially when comparing our services to a national agent. “Being independent gives us a diff erent set
of morals for how we operate as a business. The fl exibility we can off er in terms of fees, contracts, marketing packages etc.. means that we can off er a bespoke service, which is something that appeals to many of our clients” adds Stone. According to Stone, much of its business is
based on referrals and it is the quality of service on off er that clinches the deal. “As an agency we are very transparent in what we do and what we off er,” says Stone. “We are very up front as individuals about how we get paid. Some of the agents working for the larger nationals get paid if they win an instruction so we make it clear that we are pricing sensibly because there’s no point overpricing to just win the instruction only to not be able to sell the property later on.” The average buyer in Basingstoke is not
that savvy about how diff erent estate agents operate according to Stone so The Property Explorer gives an overview of the market allowing individuals to make informed decisions. “We tend not to ask about who else they have invited to a viewing but more what sort of agencies, other independents or larger nationals. We then explain the diff erences we can off er in comparison to them and the fact that as branch manager, I will be held accountable for the work we do. As a smaller agency, I often go home in the evening and make calls to vendors etc after offi ce hours because that is what is needed to be successful.” The Property Explorer was established 11
years ago, a diffi cult time just after 9/11, but the agency has managed to weather the economic storms. “There are between 20 and 30 estate agents in the town centre of Basingstoke, and more in the suburbs so competition is fi erce,” says Stone. “Since the recession, at least 12 estate agents have closed and several have tried unsuccessfully to open. We have survived because we work to off er new marketing concepts. We were the fi rst agent in Basingstoke to off er fl oor plans and virtual tours and we are still one of only two agents in the area who have open house markets in lettings.” Creating a strong brand identity and
understanding its core audience is what has helped The Property Explorer remain successful. The agent concentrates on the fi rst-time buyer and the middle market, tending to steer clear of the town centre, which is predominately period properties. It concentrates instead on the 1960’s properties and new builds in areas such as Beggarwood. “It is important as an independent agent that you fi nd your niche and don’t spread yourself too thinly,” says Stone. “People know what we sell and identify with what we do. We don’t try and blanket the whole of Basingstoke because we couldn’t do that successfully. Instead we stick to selling modern properties outside of the town centre.” The Property Explorer has recently
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embraced social media with the launch of a Facebook and Twitter page and is confi dent that it will help independents reach a wider audience. “I think it may take some time but social media will eventually benefi t all estate agents, especially the independents because word of mouth recommendations are especially important to us.”
THE FRANCHISE: BELVOIR LETTINGS Belvoir Lettings is the fastest growing letting franchise in the UK, with over 140 offi ces in areas as far afi eld as Inverness, north Scotland, to Plymouth, south west England. Each branch has full support available from
the national Central Offi ce providing a series of products and services unique to Belvoir agents. These include insurance packages
both felt that we could do better than a lot of the agents out there who deal with landlords and felt our combined experience of property and lettings would give us the edge over our competitors.” So far it seems that the decision has paid off with the agency winning an industry award. In terms of the agency running as a franchise business, Lowery explains that this is not a term that he uses when talking to landlords, instead preferring to focus in on the fact that both men are owner/managers and apart from one part-time member of staff , and the offi ce manager who is the wife of director Mike Jones, landlords will be dealing directly with them. “We have a vested interest in making sure
we do exactly what it says on the tin,” says Lowery. “The success of our business is based
“We have experienced what it is like when the agent doesn’t perform, so we make customer
and a dedicated legal help-line. Belvoir believes it is essential to specialise in lettings only to ensure that the offi ces are independent when it comes to property appraisals prior to investment and to make sure the sometimes complex task of lettings is made simple and clear for landlords and tenants on a day to day basis. Andrew Lowery and Mike Jones are the
joint directors and business owners of Belvoir Lettings in Basingstoke. Not having come from estate agency backgrounds, having the back up of a big agency and the speed of access to market that it can provide was a huge benefi t when setting up the agency in the height of recession three years ago. “I was in the construction industry for thirty
years and Mike was a landlord looking for a new business venture,” explains Lowery. “We
on maintaining good and personalised service with our landlords. It is important that landlords have direct access to us as the directors of the company because we are aware of all the properties and tenants on our books. If a problem arises with a property or a tenant, the landlord doesn’t have to explain the history to us, which can be very time consuming and frustrating for them. “The nature of being a lettings agency means that it is crucial that we build long term relationships with our landlords so we make sure we off er a service above and beyond what other agents off er. We have experienced what it is like when the agent doesn’t perform so we make sure that customer service is our number one priority. This can take many forms but the main thing is that communication is key.”
TheNegotiator ● July 2012 ● 21
Belvoir Lettings
Belvoir in Basingstoke.
service our number one priority.” Andrew Lowery is a joint director of Belvoir Lettings in Basingstoke
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