Not all letting agents, it seems, are the same.
Okay, this is one in the commercial rental sector. But all the same, how many would want to try this in the residential sector?
DeVono is certainly very different, because it uniquely focuses on tenants, not landlords – securing the best deals for the former, rather than getting the highest rents for the latter.
So, how does that work? Wouldn’t landlords run a mile from an agency that represents tenants at the possible expense of landlords?
Nor is DeVono simply a property search or relocation agent. But while it has plenty of listings on its site, the partners do admit to ‘huge negativity’ from others in the lettings industry, who said it would never work.
Now the London-based DeVono is thinking of expanding abroad.
http://www.telegraph.co.uk/finance/businessclub/8805844/Tenant-only-agency-looking-abroad-to-be-UKs-No-1.html
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Comments
This will work fantastically well while commercial property remains in the doldrums given no landlord wants voids and commercial landlords tend to have large portfolios. Devono will be a function of the economy as soon as it picks up and fortunes start favouring the landlord again then so their fortunes will decline.
Would I be prepared to emulate them in the residential market? Don't all resi - let agents already do so but less overtly. Given the shortage of available stock, most of us are touting for business and using the needs of the tenants to win it. If I've got a tenant registrant who I know would be perfect for a competitors listed property, its easy enough to approach the landlord when you've got a potential tenant for them.