It doesn’t matter whether your lettings agency is actually better or cheaper or faster or more efficient
Well isn't it a wet old day - just come back from taking Joey from his walk .. looked fab in his new coat though! Proper posh! Anyway, must get some work done but before I do, my thought of the day ...
Up until ten years ago there was money to be made in selling stuff, selling something be it a product or in our case property, a service to sell or let your property. Ten years ago, if you made your service better and cheaper, it was a sure path to growth and profitability. However, roll on to today, and I am sorry the rules are different. Plenty of agents can do it cheaper than you can OR offering a service that is measurably better for the same money they charge, is a hard edge to sustain.
The better letting agents will grow because landlords and potential sellers buy what they want, not what they need. Needs are sensible and purposeful, wants are illogical and personal. Every landlord knows they need an agent, but they want someone to be their guide, their wing man helping them grow their portfolio and ensure their investments are doing just fine.
Sorry fellow agents ... the path to profitable growth is in satisfying wants, not needs. Of course, your service can’t pretend to satisfy those wants, they REALLY must satisfy those wants. The facts are irrelevant (ie what you offer, what service standards you have, your viewer process, your compliance levels). In the short term, it doesn’t matter one bit whether your service is actually better or cheaper or faster or more efficient. What matters is what the landlord or potential homeowner wanting to sell their property believes what you can do.