Weds 1st May 2024
WBG member Bill Dane stood up this week to provide some insight into his business model. Bill’s second presentation to the WBG was driven, in part, by his feeling that his first presentation was well outside his comfort zone. Talking to buyers and vendors one-to-one is very different to standing up in front of a room full of expectant faces, after all. But tackling one’s fears is a good thing to do, and Bill did so by offering insight into the new type of business model he uses that offers some advantages over the traditional High St estate agent.
Whilst these agents require a large portfolio of properties on their books to drive the income needed to support expensive premises and a number of staff, Bill can run his business from his spare bedroom. As a result he can be profitable on a much smaller portfolio and fewer sales, and has the benefit on personal knowledge of all his properties and their owners.
The rise of online services like Rightmove and Zoopla means that only about 10% of house buyers now register their interest with an estate agent. Most prefer to do their own research online, and arrange viewings directly with the agent handling the sale. Using a call handling service allows Bill to field such calls even if he is engaged with other customers too.
In short, this business model allows Bill to foster more personal interactions with both vendors and buyers, leading to happier customers all round.
