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Black Friday and why you should be wary of cheap letting agents

Mark Francis - Tuesday, November 22, 2016

On November 25 the phenomena that is Black Friday will sweep the USA and more increasingly than ever – the UK and indeed many other parts of the globe.

Online giants Amazon has already started a countdown in the run up to the day which sees prices dropped, shoppers go bonkers and sales rocket.

It’s not just Amazon, the High Street and online retailers who believe that going cheap is a good way of gaining business.

I’ve seen some lettings agencies do it too. Although not themed around Black Friday I’ve come across several agencies whose fees are so low it leaves me thinking ‘how can they charge that and still give a good level of service and expertise?’

The trouble is they can’t and a ‘Black Friday’ approach to lettings and property management doesn’t work. Over the 30 years I’ve been a letting agent I’ve seen agencies try this cheap and cheerful route but become unstuck.

It’s an unsustainable business model.

Landlords and tenants both suffer from ridiculous low fees as something has to give. It could be the calibre of staff working in pile them high and let them cheap outfits. Or the level of property management, inventory or inspections that is provided.

The old adage you get what you pay for is particularly true in the world of property.

I have always been about charging a fair fee but delivering a superb, personal service and I like to think my track record and testimonials prove that approach works for the landlords I serve.

Having a successful working relationship with landlords and tenants takes time to build rather than a ‘buy now, gone tomorrow’ way of running lettings agencies.

Like everyone else I love a bargain but some cost corners are not worth cutting.

Thanks for reading.

Mark.


 

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