Ways that an Estate Agency could save money?

LMFC

Can anyone think of a good way in which an Estate Agency could save money during the troubled time of spending cuts? There's of course the obvious saving paper, etc. but I'm sure there will you be much better ones...

Thanks

Mrsunseeker

Getting rid of all the new and flash cars you all seem to drive around in.

<sebb>

Estate agents make their fees in general as a % of the sale price. House's aren't being bought because people are not willing or able to pay the prices those houses are being marketed for. So if they want to sell more, and therefore make more money, they should advise their clients to put their houses up for sale at a price that people are willing to pay for it and not the 10-20% more than seems the norm these days.

PasturesNew

I'd give them the same advice as I'd give to their clients: If it's not selling - drop the price!

That'd save people money

Doozergirl

Get your valuing spot on, your approach professional and provide proper comparables to vendors to help them make realistic decisions on asking prices. Therefore you save money not marketing overpriced houses being marketed by flighty vendors and employing the staff to try and sell them. Pare back and be picky. When you're the only agent with SOLD boards outside, people start taking notice.

Cross-sell everything. Sell vendors their next home, the mortgage, the solicitor, the removal man and the home insurance to go with it.

sonastin

Make sure you get commission for all the houses on your books buy selling them all. Don't sign up every possible vendor in the hope that some of them will sell because it'll still cost you to market the ones that either don't sell or get so p*ssed off that you seem to be paying attention to every other vendor that they jump ship and give the commission to someone else.

lee636

Ditch the slimey hair products at £20 a bottle & teeth whitening kits, over priced suits and advise that someone viewing a property doesnt need 15 business cards!

googler

To SAVE money - it's obvious, really - cut down your expenses. Spend less. You've got to be ruthless.

I don't know what your spending is, but;

Look at your outgoings and see what can be removed or reduced. If your income stays the same, your profit increases. Applicable to any business, not just estate agency.

How many staff on salary? Can any of them do reduced hours, or be 'terminated'

Better deals on utility supplies for the office?

Do you leave the window lights on overnight? Put them on a timer and switch them off after midnight.

Discount deals on stationery supplies?

Replace any staff cars with smaller, more fuel-efficient ones.
Monitor fuel use, and see if you get better mileage from garage-bought fuel rather than supermarket or from different brands. I know someone who runs the fleet for a car parts supplier, with 20 or 30 vans - they monitored this, and found that garage-bought fuel consistently gave them better mpg than supermarket. Are the supermarkets watering it down?

etc etc

poppysarah

Print less. Do more by email.
Make this a USP for the business.

Arthritic_Toe

I would suggest that you try charging fees on sales that don't complete.
https://forums.moneysavingexpert.com/discussion/2579659

ah sorry - I see you already do....