A former president of the Association of Residential Letting Agents says agencies should ensure they charge for all services they offer to landlords, instead of falling into informal deals which end up with the provision of services for free.
Sally Lawson - who runs Agent Rainmaker and has owned letting agencies for over three decades - says agents should “squeeze the joule” when it comes to charging.
“So many [agents] are doing things for free, they’re doing loads of stuff to help landlords, they’re not charging for these additional things. We find ourselves as people who just serve landlords rather than being business owners” she says.
Instead she calls for a different strategy amongst agents.
“Make sure every minute you spend in your business is being charged for. So if you’re being asked to wait for British Gas for seven hours, charge for it. If you’re asked to drop keys off, charge for it. If you’re being asked to do refurbishment and furnishings, charge for it and do it property.”
Lawson goes into further detail on this approach in a video interview with agent Chris Buckler, available exclusively for Letting Agent Today readers.
The video also touches upon agents’ responsibilities in terms of their insurance and indemnity, what she sees as a lack of structured marketing from many agencies, and the additional services which agents can charge landlords.
It’s just five minutes - you can see the video below.