I’m Happy to Help but You Need to Get Rid of Your Cheap Agent!
Hi, everyone. Justine Valender from Centurion Real Estate in High Wycombe.
One of the hardest things about my job is when I go out to parties or gatherings and people come up to me and want to talk about real estate. Mainly, they know I’m in property management and their having a little bit of a winge that the market is terrible, that their properties are being sat vacant. They just want to try and get my opinion and try and have a bit of a discussion with me.
It just sometimes really difficult because it’s not really the right setting. When I find out the strategy and hear more about it, it’s either they’ve gone for a discounted agent, which is just they’re not doing the right thing.
I almost want to say, “If you did this, this, and this, you would have a way better result.” The scenario I’m thinking of the other day is that they’d think that they’d have been one home open a week and even at that no one’s coming through.
I said, what time are you having the home open? Two o’clock on a Tuesday or almost three o’clock on a Friday. I’m going, “Oh, that’s your biggest problem. Tenants are working through the day.”
We’re not in the market that we’re working five years ago. You need to work around the tenant. Your agent needs to be working around the tenant. That’s after hour viewings. That’s private viewings, the times that suits the tenant. Just doing a blanket or home open at two o’clock on a Tuesday isn’t going to get you any way.
Unfortunately, that’s why their discounted agents is that they’re not allocating resources into dedicated leasing consultants.
That’s a part of my role, that’s why we break it away from the property managers. Our client relations I deal with all new business and I handle all the leasing. I just had it the other day. Someone called me up and say, “Can I see your property?”
I jumped up. I didn’t have anything on and I went on and viewed day. We actually got an application in. I showed that on the Thursday and we got the application out on the Friday.
This Monday coming up, I’ve got two home opens, at 5:15 in the High Wycombe and straight away the next one is a 5:45.
I’ve got inquiries. They’ve both been up for one week and I’ve got of a four people coming through one and I’ve got two people coming through the other. Pre-qualified, spoke to the tenants, keen, ready to go.
Unfortunately, it’s just really difficult because I have a strategy. We at Centurion Real Estate have a strategy on how we’re going to get your property leased quicker to a quality tenant. Unfortunately, like I said it’s difficult when I’m in these scenarios, in the parties, and it’s so tongue and cheek.
But I want to sit down and go, right, it’s not working. This is what you need to do. You need to go back to speak to your agent. You need to do after hour viewings. You need to get documentation on how many inquiries they are coming from you. The need to be providing you weekly reports.
This is what your agent, just the starting to me doing. What worries is they’re not even doing that at the beginning, what else is not getting done?
Are their property condition reports being haphazardly done with not enough photos. Their routine inspection is going to be rushed. Are they going to have quality communications?
Just be careful. Unfortunately in this industry, you pay for what you get.
It’s easy said. A lot of people say that. The thing is the reason there are cheap agency is they get the property manager to do everything.
One property manager is looking after about 140 properties and they’re leasing. Then they try go to court and do court tribunals. Then, they’re going to do their areas, routine inspections, PCRs, sign new business, importing invoices. It’s just too much. They get stressed and then they quit all the things slipped between the lines and things get haphazardly done.
They’re only paying one wage. That’s where you’ve just got to be careful. Just have it think about it and weight it up yourself but definitely be asking the questions when you interview a property manager.
Do you have a dedicated leasing consulting because I can tell you right now in this marketing Perth you need someone that’s working around the tenant and getting people through the door of your property?
Hope that little bit of information helped. Thank you.