Letting Agents do not offer value for money!
Well that is what the press would have us believe!
Recently reported in Letting Agency Today are Bristol tenants creating a mood of intimidation and protesting about letting agencies tenant fees.
We have Stella Creasy, Labour Minister running her campaign to offer awards to bad letting agents within her constituency. And finally a new Housing Minister, an experienced landlord, Brandon Lewis newly appointed. What do these three independent news articles mean to letting agents across the UK
I genuinely believe as a whole lettings agencies want to offer a good level of service for a fair fee, however there are the exceptions to that belief. A recent project had me telephoning lettings agents to source three separate properties in three totally different postcode locations. I was looking for an immediate property for all three clients and the deposit and six month's rent would be paid up front, so ideal clients one would have thought! During this process I rang over 50 agents, emailed to 76 and was shocked at the results.
Out of 76 emails I had responses from only 14, on the telephone calls I encountered no replies, automated call answering with eight, yes eight levels of navigation to get through before I spoke to anyone. I left messages which were not returned, sent more emails which were not even acknowledged and when I did speak to some staff they were at best ill informed, and at worst directly lying to me about legislative matters. When challenged on the issues of legislation, (I teach National Federation of Property Professionals Legislation courses) some eventually came up with the response of Well that is what we have been told to say, or that is our company policy
Clearly there were some totally professional agents who answered emails promptly with relevant information, answered the phone pleasantly and clearly were truly expert lettings agents. Their level of knowledge of the local areas, expertise in lettings legislation and desire to help was a joy to behold and completely as I believe the industry should be represented. Sadly these positive calls were definitely the minority.
This was the first time I had taken the customer journey as a tenant, if my inadvertent market research of fifty agents is representative across the UK, no wonder tenants are not happy paying letting agent's fees and feel that they are not good value. This subject is a hot potato politically and it is no good burying your head in the sand and hoping further legislation in the lettings industry will not come into play. It will! A new Housing Minister will be re-evaluating the market, with fresh eyes. Other Ministers such as media savvy Stella Creasy will create general noise. Activities from protestors in Bristol and other groups will add fuel to the fire.
My advice is to take the time to re-visit your tenants journey through your agency with fresh eyes, mystery shop if needs be, this doesn't have to be an expensive process, get a few friends or relatives to help with the process. Make the tenant feel valued and welcome, make them feel they have got value for money. So much of what we do is behind the scenes, make the invisible work visible with how to guides, videos, a robust check in procedure and follow up to ensure all is well with the property after move in. Nothing earth shattering, just doing the basics incredibly well and remembering that whilst the tenant is not our client, they are our customer and if they don't buy, we don't get paid!
*Sussanne Chambers is Managing Director and Founder of HomeXperts multi award-winning innovative estate and letting agency franchise.
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