The multi award-winning estate agency reminded its customers to watch out for agent fees that seem too good to be true.
Fresh off the back of its prestigious wins at The Guild of Property Professionals Awards 2021, the franchise has been sharing its take on why cheaper is not neccessarily better in the world of estate agency.
The estate agent and property franchise explained, “To us, the cheapest agent is the one who puts more money into the client’s back pocket. [...] What needs to be considered is if that agent finds you the wrong tenant then the fee they charged you suddenly does not look so attractive.”
Benjamin Stevens’ presented a scenario to demonstrate: If two agents wanted to let a property, and one was offering 7% plus VAT let only, while the other was offering 10% plus VAT let only, a customer would naturally gravitate towards the lower rate.
But what customers should be considering, according to the franchise, is, “Can they do the job correctly at such a low rate? How robust is their referencing? Can they afford to use the best referencing companies? If they are prepared to negotiate on their fee so quickly, what else will they negotiate on? The rent? The quality of the tenant?”
Having been in the business since 2004, Benjamin Stevens has seen its fair share of situations exactly like this. The estate agency knows the dangers of an agent that doesn’t do their due diligence, and is raising awareness of the risks to landlords. Higher fees might seem like a worse deal at face value, but if they come with excellent service and years of knowledge that will help you get more out of your property, they’re more than worth it.
Benjamin Stevens was recently recognised at The Guild of Property Professionals Awards 2021, and the multi-award winning franchise is currently searching for new franchisees. For a minimum investment of £6,500, with total investment costs of £10,000, you can take on a Full Franchise or become a Hybrid Agent. After two years, your expected revenue as a franchisee is £500,000. Find out more via Benjamin Stevens’ profile page, which is linked above.
Cara Squires, Point Franchise ©
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