I have been thinking about how things have changed in my life recently and realised something that I have known intuitively all along but maybe hadn’t put all of the things together into a coherent whole. Now I can’t remember the exact percentage but I believe that Woody Allen once said that 90% of success was just turning up.
Woody Allen Told Me To Turn Up
Last week this was driven home to me when I went up to Madrid for a conference. The boss of the property portal Idealista, Cesar Oteiza, was talking about the reactions of of agents to enquiries they receive in Spain. These figures might well amaze you. In an economic crisis when you would think that Spanish agents would be keen to follow up these two facts stand out as so incongruous as to be unbelievable;
1) What percentage of Spanish Estate Agents do you think respond to enquiries within the first 24 hours?
2) What percentage do you think follow up on missed phone calls and emails?
Before answering those two questions I think you should make sure that you are sitting down or not drinking anything in front of your computer screen. You wouldn’t want to spray it over the keyboard would you?
On the first question, the answer is just 15%. That’s right 15%!! Let me just repeat that. In a World where it is totally possible to be connected 24/7 only 15% of Spanish estate agents reply to client enquiries in the first 24 hours. Forgive me but is that just not plain stupid?
On the second, the actual figure is slightly better, though not much. 45% of estate agents in Spain answer missed calls and answer emails. In other words over half of the agents do not even bother to get back to people who get in touch with them wanting more information about a property whether it be by mail or phone. With one Smartphone missed calls and mails can be answered in minutes. There is no excuse for this.
Now back to our thread. How my life has changed just be turning up. Woody Allen was right. By constantly being available, by initiating contact using the check move theory and by having more contacts with each client over a period of time, I have a real estate business that is thriving during the economic crisis and three new projects that are all looking extremely positive.
In the real estate area, by reaching out and collaborating with other agents that can be trusted and are good at what they do there is a constant flow of clients and properties that satisfy the desire of the clients for the right type of property.
In the internet marketing area I am working on three new products one of which will revolutionise internet marketing in Spain and Spanish.
And finally I am putting the finishing touches to a book idea that I had some time ago and the collaboration should have something out of the door within the next month to help people looking for solutions to their current situation.
Exciting times indeed and all because Woody Allen told me to turn up.
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March 3rd, 2010 on 11:18 pm
Doesn’t surprise me at all. I’ve been sending “test” email enquiries via the portals to agents (all nationalities) here for ten years, so I know what our competitors are offering.
You wouldn’t believe how often there’s no reply at all, never mind within 24 hours.
I used to feel sorry for the business principals, paying for leads that are being burned. Then I just decided they were simply not running their businesses, let alone “turning up.”
March 3rd, 2010 on 11:34 pm
I wonder if the perception is that all leads are not of the same quality. Maybe if the client doesn’t walk through the door with a huge wad of black money burning a hole in their pocket then they are not seen as real, especially those that appear from nowhere out of cyberspace.
March 4th, 2010 on 9:57 am
Estate agents seem to be the most inefficient business people, it is true.
But, the great news is that to get ahead, you dont have to have more invested in your business, or the latest or greatest gadget, staff, website. Simply return that phone call will set you apart from the pack.
March 4th, 2010 on 10:19 am
That is so true Nicky. Do you think this is true about all businesses in Spain or it is particular to estate agents?
March 4th, 2010 on 10:28 am
Which part Graham? The inefficienty of estate agents per se or that simply following up leads efficiently sets you apart?
Following up enquiries and general efficiency is a huge factor in a successful business, across the board, I believe.
March 4th, 2010 on 10:36 am
The part about following up leads. Do you think that Spanish businesses in general are as inefficient as Estate Agents seem to be?
March 4th, 2010 on 12:49 pm
I dont think the problem is exclusive to estate agents or Spanish business Graham.
March 4th, 2010 on 1:13 pm
Judging by my recent experience I’d say only 15% do anything at all full stop.
In the end we actually found our house through Idealista funny enough, and so we’re dealing with the current owner directly, which makes thinks much easier.
The number of times we’ve told estate agents what we’re looking for and they’ve said “no problem, we’ll send you details and then nothing.
One guy told us he’s selling nothing and has 200 houses on his books – you’d think he’d make some kind of effort with people who are making some clear buying signals.
And I won’t rant on about Technocasa. I can barely prevent myself from spitting at them every time I pass them on the street, when there are invariable 2 or 3 of them outside on their mobiles having a fag – very professional guys.
And I agree that the problem isn’t confined to estate agents. Businesses often treat buyers as if they’re doing them a favour by selling to them. Give me a break – give me a reason to buy from you, otherwise my business goes elsewhere.
March 4th, 2010 on 2:46 pm
Good to know my compañeros are keeping things up to scratch. Tecnocasa has always been like that as far as I know.
Next time take a sign into the shop saying I have money. I want to buy
March 5th, 2010 on 4:58 pm
Woody Allen turned up for me ok.
March 6th, 2010 on 2:06 am
It’s not just estate agents, but almost every business I have interacted with over the years.
One of the biggest pieces of feedback I get when I follow up to a business inquiry is “Thanks so much for getting back to us. No one else has!”
March 6th, 2010 on 6:37 am
Could this be because business people just cannot take the answer no in general so don’t bother to turn up in any way shape or form?
March 6th, 2010 on 6:38 am
Good to hear it Jeff