The decision to open a second office in Bushey was not one we came to lightly...
The decision to open a second office in Bushey was not one we came to lightly, especially considering the climate at the time. Understandably many questioned our decision but we had undertaken some fairly rigorous market research before launching.
Some of the key elements that influence a new branch location include the number of properties, the number of viable competitors and the average house prices. With all of these you can collate fairly accurate information on and allow you to predict a potential return based on the market share you believe you can attract. This formula was one I’ve used over the years and has always proved pretty reliable. However, there are always a couple of unknown elements. These are the ‘X Factors’ if you like, that can be the difference between a successful set up and an outstanding one.
In Bushey we felt we had two such elements. One was the office location. While our Watford office has a unique location that was easy to publicise, the Bushey office sits close to three local agencies and so it would be harder to differentiate. What we felt made the site special was that the building jutted out from the rest of the shops and with a suitably attractive refurbishment, we could really make it stand out from the crowd. At the same time we sit right on the pedestrian crossing, which naturally stops both vehicle and pedestrian traffic outside our shop window all day, every day. Undoubtedly this has proved even more beneficial than we’d initially imagined.
Perhaps of even greater significance though has been the combination of the two offices working together. Every property we’re marketing, whether For Sale or To Let is actually marketed by both branches to give maximum exposure for the owners. By ensuring that our staff at both offices are suitably incentivised has meant that most properties are receiving an above average amount of interest. This healthy rivalry between the two offices has seen yet another great week where Bushey office has let 2 Watford properties and Watford office have sold 2 Bushey ones and let another.
It’s giving us the distinct advantage we believed it would and it’s extremely rewarding to see this increase as more and more clients realised the true benefit this brings with it. If you are planning to have your home valued, please call us to find out more about what makes us unique. Visit our website www.imagine-group.co.uk/estateagentsvaluation or call the relevant branch number below. Don’t forget that valuations are free!