Skip to main content

Starting your own agency .. its hard .. but what are the pitfalls?

Yesterday, i wrote a blog post about starting your own agency 
Today's post, follows on in slightly different manner.

Now if you are reading this, you are probably a letting agent, estate agent or something to do with property. Working in the property business isnt manual labour, it involves using your brain and mind.

However, if you worked in a factory, making things on a the assembly line, the obvious thing to do would be to seek out the easy tasks on that production / assembly line. You're more likely to get it done with less effort and then move on. 

So Mr (or Mrs) letting agent/ esdtate agent / (insert what job you do here) .. do you go for the easy customer, the easy assembly line, in fact do you strive to go for everything that is easy? The easy vendor, the easy landlord?

Today, though, it's the difficult work that's worth doing. Being a letting agent isn't easy. It's worth doing because difficult work allows you to stand out, create value, have a passive income and become the one landlords thing you are worth choosing? All a landlord wants is someone to go that extra mile, give good customer service but most importantly, someone who they can trust and who cares  .. that's the difficult part I am talking about, when I say difficult work.

Seek out the difficult, because you can. Because it's worth it. ( that reminds, the Mrs bought me some of that L'Oreal ' fancy gel for the face ..posh stuff, little tub .. you know the sort of thing ... I tell you, its flippin' good stuff. In fact when it runs, I might buy myself some more .. why?  ...  ' cuss I'm worth it!

Finally though, any lettings negs and managers reading this .. are you sick and tired of doing all this hard work for the boss?
What's stopping you setting up yourself?  Do you need an office? Well in this piece I wrote on Linkedin, which has attracted allot of feedback and comments, possibly not?

But Chris, it will be hard, but I ask, why will it hard? What's so hard about it. You do it today, don't you? Yopu are good at your job, arent you? Well do it for yourself. You are the only pitfall my friend.

But yes, when its your money, your house on the line its different. So what is the hard part, what's holding you back? If you can't describe the hard parts, how will you focus on them? And if there are no difficulties ahead, what makes you think your new lettings agency is valuable?  I helped open 26 new cold start letting agents in the last two and bit years. I have seen people do well, I have seen people at the other end of the scale do poorly.  The over riding factor that determines whether someone did well or not was .. not the brand, not the money, not the support, not the fees .. but the person themselves. Its all about you.

Anyway, I must go now. My plans of setting up a company to help letting agents get more landlords and rental stock isn't going to plan. I thought I would have an easy going January, then get a website and some business cards, then launch in the Spring. This blog was designed just to keep me sane. In fact it is generating a huge amount of interest from letting agents asking for my help. So, it just goes to show, as I type this on my kitchen table, with the dog whining as he wants a walk, all you need is have some interesting to say and read, and people will find you. So, if you were a letting agent,  and you were to set up yourself, it just goes to show you dont need shop, or possibly even a website (of course you will in the long run), but as my very good friend Vanessa said yesterday to me .. you need eyeballs on website.. and once you have them, keep them .. if you are reading this .. it must work!

Letting agents .. you have a subject that the whole of the UK are passionate about .. property. If you cant write interesting stuff.about property .. well.....

PS .... before I go, I really must recommend you visit the Property Tribes website Get commenting on things, start talking to landlords. You will surprised how much business you could from it. It wont be over night, but build up your skills, commenting before you embark on your own blog.