Who are you and what does it say on your business card?
Milton Rodosthenous, Director of Equity and Capital & LetsBid Property.
What do you do?
I'm a property professional involved in all aspects of real estate in the UK and Europe.
From developing real estate in the UK and Europe/landlord /pioneer and industry expert in UK Build to Rent, to being the founding director of LetsBid property, one of the fastest-growing B2B online property auction sites in the UK.
What services do you offer and in what ways do you work with estate and letting agents?
LetsBid property operates as a B2B company working with UK estate agents allowing them to sell property with a reservation fee in an auction environment with no buyers fees making sure you get committed buyers.
There’s a lot more stuff were doing in the background so watch this space.
What makes your product different and how does it benefit agents?
Selling with a reservation fee in an auction Environment has been branded the modern method of auction and has quickly become one of the fastest growing income generators for estate agents up and down the country, with multi millions in commission paid to agents. What makes us different is two fundamental points:
We don’t charge buyer fees. This helps open up selling this way to the mass audience. Other providers typically charge between 4-5% of the selling price and when you’re selling a property for £300k and you request a buyer to pay between £12-15k as a fee, it can put people off. Our partnered agents attract the buyers who don’t want to pay the fees but still secure the sale as any reservation fee paid comes off the purchase price.
You're in complete control of your listing and we don’t tie the property down as we understand vendors may change their mind or the buyer you have wants a traditional sale and because we don’t take any of your fee, you stay in control and put the customer's best interests at the heart of the decision making.
What is your greatest achievement in your current role and what made it so special?
Since leaving the major corporate I worked for, I have had some great achievements in this space, but for LetsBid Property to be now partnered with over 150 estate agents, including brands like Remax, Winkworth etc. Helping them change the way people buy and sell property is very special.
What is the most satisfying part of your job?
Being a founder and seeing a start up go from an idea to a running business is great and without question the most satisfying part of the job.
What do you see as the biggest challenge facing estate and letting agents at the moment?
Confidence within the market is the biggest problem we have at the moment as buying a home for most people is the single biggest transaction of their lives, so we need to restore confidence in the market so we can start seeing transactions flowing again. Once Brexit has happened, and everyone can see it's business as usual, this will help give us the boost we need for a great 2020.
What is your property prediction for the remainder of 2019?
The property market in the UK is very resilient and as we move in to 2020, I can see the regional cities continue to do well.
Country house or city apartment?
100% country house, moved into one a few years ago just on the outskirts of London and haven’t looked back.
Trendy roof terrace or traditional English garden?
Would you rather be a free-moving tenant or settled owner occupier
I have always owned property. It's something that was installed in me as a kid growing up working in the family estate agency as a teenager, but I can see the benefits of both.
What is your favourite room in your home?
Has to be the garden. We're lucky enough to have a large garden with a great entertaining area so I love getting the BBQ on.
Homes under the Hammer or Location, Location, Location?
Love them all, to be honest, but a Place in the Sun has to win it for me.