Some estate agents are operating both ‘hot buyer’ lists and using ‘quiet marketing’ techniques to prevent their staff wasting viewings on tyre kickers and unprepared house hunters, it has been claimed.
Property search firm Stacks says estate agents are having to turn their marketing activities on their heads as they attempt to prevent time-consuming viewings by viewers who are unlikely or not read to make an offer.
“Quiet marketing involves withholding properties from the portals, or sometimes uploading a brief outline with little detail, a general but non-specific indication of location, and no pictures,” says Anthony Pearce of Stacks (below).
“Agents will contact suitable buyers on their list and aim to sell the property without ever going to the open market.”
Stacks claims that attracting large numbers of buyers is now a no-no because conducting viewings is time consuming and onerous under Covid rules so agents are aiming to attract only the ‘hottest’ buyers.
“Agents have lists of buyers who are pre-qualified in terms of finance, intent and readiness to progress. For the best properties, they are recommending quiet marketing so they’re not inundated with requests for viewings.”
Pearce claims these tactics are necessary because many agents report lists ‘as long as their arms’ of keen buyers, which have to be managed remotely and which is pushing them to the limits.
Grey marketing, or quiet marketing, used to be reserved for vendors who didn’t want to go public or wanted to test the market; but now it’s becoming a more mainstream way of selling efficiently, Pearce claims.