Getting instructions is the hardest challenge, isn’t it?
We can help with that! Expert Agent’s 2200 member branches refer 3000 valuation opportunities to each other every month. This scheme, known as Potential Vendor Alerts (PVA) means you could get to hear about people thinking about selling in your area before they instruct anyone else.
Tried other referral networks? This one really works.
Unlike the others, we don’t rely on negotiators spotting an opportunity and being suitably trained to respond. The process is fully automatic but with lots of safeguards for our members and the consumers.
We can send you PVAs whenever someone with a property to sell in your area makes an enquiry about a property through one of Expert Agent’s 2200 member branches elsewhere in the UK. That could well be the first time they reveal their intentions to move. You could get “tipped off” that they plan to sell before they think about arranging valuations with your competitors.
3,000 potential vendor alerts per month sounds a lot until you realise we’ve got 2,200 member branches! However, we can only place around 1500 PVAs each month due to the “holes” in our network’s coverage. The rest just go to waste and that’s a shame. Join us, plug a hole in our network and get more instructions!
PVA Calculator – see how many leads we could get you
We’ve created a little PVA calculator that lets you see how many leads you would have received over the last 12 months
Here’s a YouTube video to explain how it works
Didn’t get it?
Here’s a breakdown of how it works following the example in the video.
- Ned owns a house in Oldtown and is looking to move to Newtown.
- Ned registers with Rightmove and the local agents, one of whom is “Dan’s Estate Agency”, an Expert Agent member.
- When Dan’s Estate Agency in Newtown registers Ned as an applicant in their Expert Agent account, Ned’s details, along with those of other Potential Vendor Alerts get stored in a “folder” for a review by Dan the boss at the end of the day. Negotiators don’t get told this is happening and Ned doesn’t get told it is happening. This is deliberate. No need for negotiator training and no need to upset Ned.
- Dan the boss reviews the folder of possible PVA, removing any that he doesn’t want to send and, if he wants to, removing the agents that might get Ned’s details if he doesn’t like the look of them or thinks they might compete.
- The next stage is that Ned gets a permission email asking if he’s happy that his details get passed to another Expert Agent member that might be able to help him. Once this stage has passed, details get sent to Smith & Co, the Expert Agent member in Ned’s home town – Oldtown.
- Mr Smith has an inbox of PVAs. He can choose to accept or reject leads as he sees fit. If he accepts one, he is committing to pay £200 on completion (£160 of which would go back to Dan and £40 is kept by that cheeky Expert Agent lot)
- Mr Smith contacts Ned. Ned likes Mr Smith and instructs him. Mr Smith sells quickly. Ned becomes a proceedable applicant and buys from Dan’s Estate Agency.
- Expert Agent charge Mr Smith £200 and send £160 to Dan.
So, everyone is happy (except Mr Smith’s competitors who have missed out on a sale).
“Since the new Potential Valuation Alerts system went live we’ve had a head-start in booking valuations, and quickly had a steady stream of alerts a week about properties that might soon go on the market” – David Sansome, Sansome & George, 5 offices across north Hampshire & Berkshire
“Please keep the PVAs coming! I accepted about 10 this week, and have booked one valuation already – a 10% return compares very favourably against direct mail’s 0.05% return!!!”
- George Hartshorn MNAEA, Elizabeth Davenport, Warwickshire
How to get involved
You’ll need an Expert Agent subscription. That will cost you £55 per month for referrals in up to three postal districts (the bit before the gap ie SW9 and SW9 – what the Royal Mail call the “outward code”). That’s at least 30,000 properties because each “outward code” was deliberately defined by the then Post Office back in 1969 to be roughly 10,000 properties. If you want more districts, take more £55 subscriptions.
There’s no need to swap over from our competitors’ software products if you don’t want to and we’ve got a few firms that continue to use other technology but just subscribe to Expert Agent for PVAs only.
However, you’ll be required to add your “out of area” applicants into Expert Agent so in our experience if your team have to enter them twice (your existing system AND Expert Agent), they just won’t!. Ideally, we’re looking to get businesses to swap over to Expert Agent and use it to run their sales department and maybe their lettings and management departments too. There are lots of compelling reasons why you’d want to do this – see 20 Reasons to Join Us
On a day to day basis, you’ll just need to feed in applicants with properties to sell elsewhere and you’ll either need to watch the PVA “inbox” for incoming referrals or switch on our “Morning Meeting Email”. Expert Agent sends every user a “morning meeting email” in the early hours of each morning, containing appointment details, viewings to chase, applicants that need a call etc. New PVAs feature in this.
If you don’t have an Expert Agent subscription, speak to our sales team – email@example.com or 01225 303500 option 1