Tag Archives | letting agent

WARNING : A Crimewave is about to happen

WARNING : A Crimewave is about to happen

Let’s consider the example of a small letting agent turning over £300,000 per annum mostly from let-only properties.  At the moment, they might be making a profit of 20% of turnover which is £60,000.  This provides a comfortable living for the proprietor.  But agents like this currently earn up to one third of their income […]

Continue Reading
Will your letting business survive?

Will your letting business survive?

It is becoming increasingly clear to me that a lot of letting businesses are not going to survive the tenant fee ban that is due to come into force next spring.  The businesses that seem destined to fail are the let-only businesses, many of which were set up by residential sales agents in response to […]

Continue Reading
Is this the end for Tenant-find only?

Is this the end for Tenant-find only?

One of my big clients has just dis-instructed themselves from 131 tenant-find only properties that used to bring in fee income of just over £50,000 per annum.  They have been planning to do this for three years and they have finally done it.  Are they mad?  Well, let me try to explain their logic. Their […]

Continue Reading 0
Why Councils should not be letting agents

Why Councils should not be letting agents

For the first time in twenty-five years, I have resigned from a consultancy assignment without finishing it.  I was asked by a council to help them to prepare a business plan to set up their own letting agency.  I had reservations about taking the job from the outset but I had no other clients in […]

Continue Reading 0
business-banner-1

Will the online agents destroy us?

As I sit down to write this article, Purple Bricks has just been valued at £250 million!  Personally, I would not dream of investing in the business at this level but an awful lot of estate agents are growing increasingly worried that the online agents will destroy them.  So will they?  Personally, I think that […]

Continue Reading 0
Training-banner-1

Regulation – A Tenants Perspective

For thirty-five years, I have viewed the burden of increasing regulation from the agent’s perspective but I have just been forced to look at it from the perspective of the tenant. One of my daughters did her degree at Kings College London and made what turned out to be a rather unwise choice of student […]

Continue Reading 0
business-banner-1

Are you ready for the end of tenant fees?

Labour and the Liberal Democrats have been defeated and many of their ill-judged proposals for the housing market such as rent controls and mansion tax have been defeated with them.  However, one of their proposals remains very much alive and could still pose a real threat to the profitability of estate agents.  That proposal is […]

Continue Reading 0
home-banner-3

Who will speak up for us?

Yet again this weekend the papers are full of negative articles about estate agents.  One article calculated that the average estate agent earns over £800 per hour for the five hours work necessary to sell a house (if only that were true).  Another article listed the top ten complaints about estate agents which included running […]

Continue Reading 0
APRIL_22_ADAM_WALKER

Nobody wants to be an estate agent by Adam J Walker

One of my daughters, who is in her final year at university, recently asked me to speak at their careers fair. During the day, I listened to some great presentations from bankers, law firms, teachers, social workers and a variety of blue chip companies from every conceivable business sector all extolling the joys of a career in their sector. I was, however, the only estate agent there. I started […]

Continue Reading 0