Stefan 
Producing accurate quotations is one of the most important aspects of running an education agency and key to successfully closing an international student application.
Quotations are essential to winning a student, and convert that student into a successful application.
However, education agents often underestimate the costs of an application to a student, missing out on disclosing the costs of application fee, health insurance, visa application fees, tuition fees, initial deposits, service fees, etc… Underestimating the costs can and often do lead to losing the student’s interest.
In this blog post, we provide an overview of quotations for education agencies and explain why accurate quotations are so important to improving results.
What is a quotation and the difference between an estimate vs a quote?
Oftentimes, the terms ‘estimate’ and ‘quote’ are used interchangeably, as they both serve a similar function and require a similar costing process to complete; however, they have one key difference which is important to outline:
A quotation outlines the exact price that the student will pay for the application, including additional costs that the student will incur apart from tuition fees. Upon acceptance, the education agent is contractually obligated to provide the service at the specified price based on the terms that are outlined in the quote (unless the scope of the work changes and a new quote is presented and agreed upon.)
An estimate, on the other hand, is not contractually binding. Students understand that the prices outlined are subject to change as the application progresses to reflect a greater level of detail about required resources, scope, or timelines.
Using a software such as an application management system to manage and track your applications will help you not miss any of the components of a quotation and will enable you to create an accurate quotation for your students.
Accurate quotations start with accurate data
The key to creating accurate quotation is accurate data. Using a quotation software designed for education agencies, such as Inteleagent, will ensure your data is stored and used in a proper way, and your quotations are accurate.
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