FAQs

Landlords and Sellers: Checking your current marketing performance.

Ever wondered how your property is performing up against other properties on the market? Just how successful is your property advertising in attracting viewers? Here's a quick guide to decoding the figures on your weekly property performance report.

So, after all the discussions about demand, market appeal and recent similar local properties, you've reached a decision about what price point you'd like to market your property. Coupled with all the photos and floor plan your agent has taken, your property is now on the market, together with tens, possibly hundreds of others. Rather than sitting back and hoping for the best, wouldn't it be better if you could find out useful information?

  • How many times has my property been shown in search results?
  • How many people have seen the details of my listing?
  • How much attention is my property getting?

Our Solution

For each property advertised, we send a report to our landlords and sellers each week detailing just how we're doing with the marketing to better understand the level of interest there is, and crucially what we might need to do to be more effective. The report shows the number of times a property was viewed on Rightmove together with the level of enquiries from prospective tenants and buyers. In addition, you can compare the level of interest a property has compared to all the properties we are currently marketing and against our branch average as well. These indicators are ideal for exploring the status of the property versus your local market.

How much interest is your property getting?

The graph shows the number of views your property has received on Rightmove over time. That means the number of visitors who have landed on your property’s full detail page. 

This report gives you an excellent guide to the level of interest your property has received, particularly when compared against other properties’ performance.

Essentially, the more times your property’s full detail page is viewed, the more likely we are to receive an enquiry from a buyer or tenant.

Why does a property’s performance change over time?

When a property is first loaded to Rightmove, it is sent out in alert emails to potential buyers and tenants who are looking in your area. All Rightmove listings tend to see a fall in views after this initial spike, so it’s then about us working with you to generate as many detail views as possible by keeping the advert fresh and regularly checking that its price is in line with the market.

The performance graph highlights any changes we have made to your property listing and the subsequent impact of those changes on the number of people viewing your property’s detail page.

If you have any questions about the marketing of your property, or if you’d like to discuss how we could generate more detail views, please do not hesitate to call us on 01625 836422

 

Example of Weekly Property Performance Report

Example of Weekly Property Performance Report

What happens when there is more than one offer?

It's important to note that as agents, we must act in the best interests of the landlord. This means the maximum rent achievable while at the same time reducing any risk of potential issues. The decision to move forward must always come directly from the landlord, and not ourselves.

When you make an offer, this is not in itself securing the property for you. A tenancy is subject to:

  • the landlord's consent

  • successful referencing

  • the signing of the tenancy agreement (or contract)

ROUND 1

As part of our process, we ask you to complete our 'Tenancy Application Form' which goes through a series of factual questions and statements designed for the landlord to get to know more about you and your situation. 

Things that are generally seen as a positive are:

  • the rent amount is the same or higher than someone else

  • the rent is paid in full for the tenancy (6 months or 12 months in advance)

  • there is no adverse credit history (CCJs or bankruptcy)

  • employment that can be easily verified with a higher income than someone else's

  • a history of being in a tenancy already with easily verified landlord's reference

  • having a pleasant appearance on the viewing (dressed appropriately) and having a generally good natured attitude - remember while you're looking at the property, we're looking at you!

Things that can possibly be seen as a negative are:

  • offering a lower rent amount than someone else

  • adverse credit histories such as CCJs or bankruptcy

  • tricky employment situations such as unemployment, or self-employed for less than a year or part time employment earning less than the threshold needed to afford the rent

  • Needing to have a guarantor vs someone who doesn't need a guarantor (see when When are Guarantors needed)

  • If tenants come with pets or children as this could increase the chances of the property being damaged

  • having an awkward email address like 'bigsillyprincess@hotmail.com'

  • having an unpleasant appearance on the viewing (dressed inappropriately) or being rude

Usually, from this information, the landlord is able to make a decision, and we'll inform the successful applicant. We'll then need to collect the referencing fee to secure the property, however, if this is not paid promptly, the landlord may decide to go with the second choice so don't delay!

ROUND 2

Sometimes, a landlord may receive two offers and the situations are identical. In this case, the landlord may not have a preference and decide to go with the first person who is committed to paying the referencing fee first. In this situation, we'll process all applications at the same time for all interested parties who will, in turn, receive an email inviting them to register and make a payment online. The first person that makes a payment is the one the landlord will go with. Everyone else will then receive a second notification email shortly after saying on this occasion they were unsuccessful. 

ROUND 3

Rarely has this happened, but we have had an occasion where two people, with the same offer, paid, at the same time (11:53am) to be exact! In this case, we referenced both parties and the first one to come back as acceptable is usually the one the landlord will decide to go ahead with.

COMMON MYTHS

"Can I make an offer without viewing the property?" - Unfortunately no. See, Can I secure a property without seeing it?

"Can I pay cash on the viewing?"  Unfortunately no. We don't handle cash, and we need to ensure all viewers have the same chance of submitting their offer.

"Can I be the first to view the property?!" - We do our very best to book people in as soon as possible. We can't ensure everyone is first to view a property, but we do ensure all offers are put to the landlord, even if you're not the first to view the property.

Which Property Portal Is The Most Popular?

With the recent news that OnTheMarket (OTM) membership is 'much higher' than had originally been anticipated, how does this translate to our local area?

We decided to do some digging to find out the number of properties being listed for rent as of this morning (19th November 2015) on the three main portals. We discovered that in our hometown Wilmslow, there's no surprise that Rightmove remains the dominant portal. However OnTheMarket has twice as many properties as Zoopla which suggests significant advancement. 

Number of properties listed in Wilmslow

However if we take a look at Stockport, the figures tell a different story. 

Number of properties listed in Stockport

If we drill down into the properties directly, the reason for this change is simple: The large agencies such as Gascoigne Halman and Jordan Fishwick have signed up to OTM and they have a presence in Wilmslow, where as the larger agencies in Stockport such as Bridgefords and Edward Meller are not members.

What is interesting through is how many listed properties are solely on Rightmove and no other portal. We can assume that all the properties listed with Zoopla and OTM are duplicated on Rightmove, so the difference is around half. Half of agencies have decided to focus their marketing efforts on only one portal (all be it one with close to 100% of all properties!).

While OnTheMarket is still establishing itself as the second portal of choice for prospective tenants and buyers, and expects to further increase its awareness through media coverage in the run up to Christmas, the data suggests some significant advances in the Wilmslow area, at least in terms of the number of properties it lists. Does this mean quality leads are twice as likely to come through? Unlikely at this point in time, but it does mean your property would have a greater chance of being seen if it is listed with an agent that advertises on more than one portal especially in Wilmslow.

 

CAN I SECURE A PROPERTY WITHOUT VIEWING IT?

In a climate where demand is greater than supply, it can be as exciting as it is nerve racking when you get a notification that a property you like has just come on the market. The location is perfect, it’s available when you need it, the photos show the property in its best light and the floor plan shows it has enough space for your extra large sofa you’ve always wanted and cow hide rug. The only problem is you can’t view the property for a number of days and you’re afraid you may miss your chance. What can you do?

It maybe tempting to think that you don’t need to view a property but you really do. A viewing is essential not only because you need to see for yourself that everything checks out, but also for the agent or landlords liability should something not quite pan out. If you weren’t satisfied with the size of the fridge, or the view from the bedroom window for example, that is something that would have been picked up on through a viewing. In addition, Letting Agents have a responsibility to the landlord to ensure they get the best price possible and create a tenancy with the least amount of risk. This is achieved by having multiple viewings and presenting offers to the landlord so they can make a decision on whether they are happy to proceed.

For this reason, paying a ‘holding deposit’ to temporarily secure a property for you specifically to withhold providing the landlord with other offers wouldn’t be possible.

In addition, although not necessarily directly related, the Accommodation Agencies Act 1953 enforced by Trading Standards specifically prevents an agent from taking a deposit or fee from a potential tenant if it is not directly related to a specific property they plan to rent, or for any service related to finding a property to rent.

What you can do however, is have a representative view the property on your behalf such as a relocation agent, or close friend. If you’re willing to put your trust in them, then your offer would be considered and put to the landlord.