See what Jordan from our #Hoddesdon office had to say in one of Rightmoveblogs right here! #rightmove #estateagent
Rightmove Optimiser Agent Stories: Paul Wallace Estate Agents
After serving in World War 2, Captain Paul Wallace returned to the UK to start his estate agency business in 1949.
Today, Paul Wallace Estate Agents are the longest established agent in Hoddesdon, Hertfordshire and operate a second office out of nearby Cheshunt.
Priding itself on its heritage, Paul Wallace even boasts a member of staff who has worked in the industry for over 50 years, with 40 of those at Paul Wallace.
We caught up with a more recent joiner – Sales Manager Jordan Falco – to discuss the secret behind Paul Wallace’s success.
Paul Wallace have been using the Rightmove Optimiser package in their two branches since February 2016.
With their Optimiser package, Paul Wallace pay no core membership fee. Instead, all their spend on Rightmove is on advertising products – giving them maximum exposure for their brand across all of a home hunter’s journey. The Paul Wallace brand is now seen approximately 65,000 times per week by people searching in their area on Rightmove
“As well as our unique heritage, we pride ourselves on the fact that we’ve always been independent”, says Jordan. “We’re big champions of independent business and it’s a close-knit community here between the local businesses. For instance, we’re currently running a competition giving £100 away to spend in a local independent retailer.”
Competing with the corporates
“Our area has one clear market leader – a large corporate with over 40% share. It’s hard to compete with that, but we’re regularly in second place. We’re always checking our Rightmove Intel stats and monitoring our position to make sure we stay there.
New agents will come into the market every now and again and nick the odd instruction but they aren’t really a threat. We’re the only agent in town with 50 years’ experience and they can’t compete with that. In fact, two of our closest competitors were formed by agents who use to work here and learnt most of what they know from the guys at Paul Wallace.”
Success starts with the basics
“Our winning approach starts with getting the basics right. Since I joined last year, I’ve made sure that all our Rightmove listings have enhanced photography, floor plans and are Premium Listings. Those tweaks alone have made that we’re getting a third more enquiries.
We offer this service as standard. Our main rivals charge their vendor £180 for a Premium Listing, but we include them in our package. They charge extra for professional photos, whereas we use a very similar camera and include photos, along with floor plans, with our standard fee.
If a property is really special, we’ll make it a Featured Property. We use them on our best properties to give them an extra boost and get them as much interest as possible.”
Winning instructions remains key
“Once we’ve got stock on, we sell it quickly. The market here in Hertfordshire is very buoyant as we’re effectively now almost a north London suburb. First-time-buyers can get a 3-bedroom house for the price of a 2-bed flat in London and the commute makes perfect sense for them. Our challenge is therefore winning the right kind of instruction that we know we can sell for a good price.
To win instructions, people need to know that we exist. So, we raise awareness by using Featured Agent and Local Home Page banners on Rightmove.” Paul Wallace’s Local Home Page ad captures the attention of home hunters before they start a search on Rightmove.
Paul Wallace’s Featured Agent ad appears to home hunters in the search results.
Maintaining a reputation
“In this day and age, word of mouth and reviews are more important to us than traditional marketing. We do advertise occasionally in the local paper but we don’t get much back from it – it’s more nosey neighbours than actual leads.
Instead, reviews on social media and sites like AllAgents are what this business is based on. It’s where our independent approach really helps us stand out. We’re using social media more and more, too, to engage with people in our community in a more direct way through things like competitions.”
Looking to the future “We’re winning more often than not and our business is built on our history, so aren’t going to change our winning formula too much. We’re aiming to continue to gain share where we can, but not at the expense of our values. We’ll carry on doing it properly, in the traditional way.”