Are lettings agents tomorrow’s dinosaurs?

By: Mike White of Martin & Co Lettings

AK_3_MIKE_WHITE.jpgTrying to plan our company’s future in the lettings industry is like swimming through porridge. We are so much a function of the economy and since trained economists can’t agree on what’s going to happen next, where does the humble letting agent begin? Obviously, the internet is going to play an even more important role going forward than it does now. It has already revolutionised the way both estate and lettings agents undertake their businesses. In lettings many people chose to look for a rental property on websites such as www.homes24.co.uk/property

In fact there are even websites where sellers can advertise directly to potential buyers without an estate agent intermediary. There are a few of these around for lettings too but not so many just yet. But is it only a question of time; will we go the way of travel agents and book sellers? Eventually Google and EBAY will rule the world, won’t they?!

Well maybe not. Inevitably, there will always be landlords out there who think they can do a better job than a letting agent. Fair play to the ones who can and advertising directly through the web for them is really just a natural extension of advertising through printed media. Call me old fashioned but it worries me that people can happily advertise their most valuable possession to anyone, though. Do they pre-qualify the people coming to view? How do they know they’re not just sizing the place up?

In short, I think there should always be a place for a good quality letting agent who offers a bespoke service, they’ll just need to keep fully up to speed with all that the digital world has to offer them (and their clients) as it continues to grow. However, to be successful, they will need to think smarter, act quicker and make sure the service provided far exceeds anything the landlord could achieve on their own. A bit like now really!

Mike’s at Martin & Co on 01603 766860

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