Some confusing statistics have been reported in recent weeks. They suggest that while the number of rentals handled by agencies is around 60 percent and rising, 70 percent of tenants would prefer to rent directly from the landlord. What’s more, around 50 percent of landlords say that agency fees are too high and that service is often below par.
Getting your head around those numbers is tricky, but we think we can sum them up in one sentence – agencies have a role to play, but they need to do it better.
Now that’s a huge generalisation and we hope you’ll forgive us, but with everything agencies are facing, a fees ban on the way and a sector that’s facing increasing legislation and scrutiny, there’s no room for complacency. It is time for agencies to take action and make themselves essential to all their customers.
If 70 percent of tenants would prefer to rent directly, why is that? What could you do to change those numbers? Are there extra services you could offer? You should be much more than a middleman. You’ve got local knowledge, so use it. Give tenants first-rate service with a friendly face. Sort their issues and protect their interests.
If you value them, they’ll start to value you.