Don’t sell yourself short as a Lettings Agent

Perhaps the question I get asked the most, particularly by Agents just starting in lettings, is ‘What should I charge for and how much should I charge?’

The wonderful thing about being a business owner is that you get to decide your fees with no one imposing corporate fee rules on you.

In our Lettings Foundation course, run over the first three Wednesdays of every month, we cover the fees you can legitimately charge, including a tenant find fee; a tenancy set up fee and a service fee (Let Only, Rent Collection and Fully Managed). We also discuss adding reasonable margins to additional services such as safety certificates, inventories and checkins.

As with everything else in Estate Agency, your customer has to see value in what you are charging them, but perhaps my biggest tip is this: The competition is largely average at best. They are unlikely to have the same passion for customer care that you do unless they also own their own business. Don’t sell yourselves too cheaply!

I’m always available for a chat if you’d like to talk about fees or anything else in the world of Lettings.

Paul Sloan
Operations Director, KWUK