By Steve Roulstone
Yet another report on the state of the Lettings Industry confirms the increase continues to gather momentum in our industry and unusually, I totally agree with what is being stated. However, because the writer is London / Surrey based, whilst they are seeing the majority of the current growth, I doubt they are also seeing the full effect of the Estate Agents who are now trading in our market.
Same outcome wherever you are!
One thing that does not change is the outcome of untrained or unprofessional people involving themselves in a market they know little about! The dangers are not always so clear and because of the lack of information supporting any Landlord looking for Management services it is not really clear about what they should look for when choosing the right Management Company. There are many attempts at the moment through Safe Agent and TPO to give Landlords security, but the message is both new and from what we see on the ground, not yet getting through and if I have any complaint about this article, it is that another opportunity to advertise security and professional schemes has not been taken.
Differing degrees across the country.
What is very clear is that the increase in numbers does not always apply as you travel Northward through the Country. I am currently travelling around our offices and not all are benefitting from the increases in opportunities, but it is clear and again confirmed in this article, that a large percentage of this increase is staying with the Estate Agents, who as I have confirmed before, will not wish to walk away from what is fast becoming 20% of the UK housing stock in the Private rental market. Therefore, we need more than ever to get our message across, that there is a reason we are called Letting Agents as opposed to Estate Agents.
Competition.
Nobody should complain about increased competition in the market place; however what we have seen over the last two years can be best described as more of a flood! When I started in 2000 I would have been competing with probably no more than five Agents. Now, this figure has grown four or five fold! It is clear from what I have found that when Landlords do look for a service provider, the offices with a greater profile are the ones who benefit the most. At my Stafford office, we are still seeing five Landlords a week on average, but the smaller offices are not seeing anywhere near the same numbers.
Professional noises.
So every opportunity must be taken to shout loud and clear that there is a very large difference between trained and qualified Letting Agents and anybody listing themselves as a Letting Agent or providing Rental services. You cannot beat time served (real experience) and of course asking what qualifications are held. It is difficult to prove otherwise and at Castle Estates we would not wait to be asked, providing the information from the start! Of course as the writer confirms, one major difference can be the price for the services requested, but as with all things in life you do not get everything for nothing, so I would suggest the question that needs to be asked is what are you getting for next to nothing, because cuts have to be made somewhere and it is important to find out where!
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