Tuesday 21 April 2009

Why is SurreyLets Different?

I am often asked why SurreyLets is different. To answer this, I need to explain a little letting's history first!

Having worked in this industry most of my working life, over 18 years I have seen the industry go through dramatic change. In the early 1990's when letting for the first time commercially was gaining a momentum and "Buy To Let" was leading the market through to today where we have an industry that is very different. I recall that there was not that much legislation to hand back in the early 1990's, and certainly very little regulation for Agents. Estate Agents were suffering in the Housing Slump of the late 1980's and were turning to letting's to be the new "Cash Cow" - after all, anyone could let a house!

This may have been around 18 years ago - but there is some argument to state that these patterns are happening again. But has the industry learnt its lesson? There well may be lots of legislative change, but is it being implemented by the masses of small start ups and who is regulating it? Or is it only discovered when its too late?

I also recall that when the sales market picked up in the mid 1990's when letting's legislation started creeping in that several Agents who were starting to again do well with Sales, dropped letting's like a stone. Suddenly all those management queries were too much trouble, all available staff were resourced back into sales and Letting's firmly had the place of the poor relation. Who suffered? The agents existing client Landlords. There were stories also in the 1990's of companies who did lettings closing, leaving clients stranded and in some scenarios taking the money held on deposit with them. Lets be under no illusion that with the rate of Lettings Agents opening, could these trends be repeated?

For many larger organisations in the realisation that letting's would provide a steady income stream, they began to invest in the Lettings side of the business. These companies invested in their staff and put them through courses offered by The Association of Residential Letting Agents who formed in 1981. ARLA became a voice to support letting agents and Landlords and to communicate, and make sense of, the legislation that came in fast and thick as the country saw the problems that had been created by the lack of regulation. The industry was without doubt improving.

However, for many larger corporate companies, it is my opinion that the balance at some point tipped and Letting's became a little too much focused on front line sales.It became a money making machine and less of an ongoing dedication to service and support. Companies separated the paperwork from the sales people and created letting's negotiators who were target driven, but knew little about the legislation or contract law. The back office staff often great administrators, but lacked in expertise. I spent considerable time in my career dealing with "Customer Service Issues" and top of the list of faults was internal communication. The offer was not always put through correctly, details were missing that became a problem further into the tenancy. As ARLA courses became more expensive, not everyone did them. Many branch staff would have no industry qualifications, sometimes each branch with just one member with a basic foundation knowledge. As the industry grew further some companies departmentalised accounts / property management / renewals etc and clients had several numbers to call for points of contact often spanning the length of the UK if not overseas! Whilst sales soared, service slipped. The administration centre roles employed untrained people often starting a career and placed them in charge of managing clients property. This is not the case with every agent, there are some agents that are larger and have retained the balance, there are some who have not.

Over 18 years the way a property is marketed has changed totally. I recall 18 years ago newspaper adverts were the only media used. Now, very little is gained from the paper and the main portals quote as many as 95 -97% of tenants are finding a home via the Internet. More recently mediums such as Facebook and Twitter are working as this deals in realtime. However, the corporate world for the majority holds is, in terms of its marketing, restrictive and the staff in branches are dictated to following the "same old" methods, that are rapidly becoming outdated.

Corporations in the mainstream are closed, controlling and selective. We are now seeing the rise of the Individual, the consumer is demanding that personal service is bought back, they want to know who they are dealing with and they want that person to be an expert in their field, not a one trick pony. They don't want to be "sold to", they want to have information so they can make informed decisions, they want to form a relationship with a person who they trust and have a mutually beneficial relationship.

So, why is SurreyLets different? Its different because I have experienced and lived through the changes in the industry. There are over 100 pieces of legislation that have been digested into everyday speak and even more invaluable are the thousands of scenarios I have practically dealt with. Anyone can learn, experience has to be gained. I can see what is wrong with the industry, and therefore have built my business on what I believe is right. I am an individual member of ARLA and SurreyLets is in the process of becoming a member body, because I believe that the industry should be regulated and the consumer should know that their agent has client money protection, insurance and are conforming to a code of conduct.

Above all I believe that we have to bring back good, honest personal service, we need to bring back the basics of being available and caring about what we do and caring about each other as people first and foremost. Its not solely about doing lots of deals without a second thought and most of all, not running away when things go wrong. This industry has its pitfalls that are sometimes unavoidable, but being able to help my clients through that is something I will do. I may not have a magic wand, but my knowledge, experience willingness to listen and help is what makes Surreylets different.

SurreyLets - this is the name
Understanding People, Understanding Property thats its aim!

Testimonial kindly provided by Vanessa Warick of 4Wallsandaceiling. 4walls are an inspirational property company embracing social media and inspiring people in property.

"It has been a genuine pleasure to have Surrey Lets as one of our service providers. Sally has tremendous experience in the lettings arena, and is truly committed to offering exceptional service to both Landlords and tenants. She offers a highly personal and professional service which is what makes her stand out in the over-crowded lettings world"

1 comment:

  1. It looks like the Government is planning to meddle again in the affairs of landlords.

    http://property.timesonline.co.uk/tol/life_and_style/property/article6223112.ece?token=null&offset=0&page=1

    I must admit I am a big fan of the NLA (National Landlords Association) one of the things they try and do is stick up for the rights of honest landlords, so the more members they have the more of a voice they have with our ill informed politicians.

    http://www.landlords.org.uk/

    I would recommend every landlord if they use a letting agent or not to join them or one of the other Landlord Associations. With the NLA you get an excellent help line run by professional landlords, an informative magazine and discounts on landlord services like house insurance.

    Before anyone asks I am not on commission, its just for a little money you get excellent value and hopefully access to a voice that will be listened to.

    For landlords with just one or two properties you need a letting agent who will keep you informed of the latest regulations.

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