On many occasions I’ve been unfortunate enough to be in the line-of-fire of the notoriously slippery tongue of an letting agent. Yesterday, I was bitterly reminded of how extortionate and how ridiculous some letting agents are. So, here I am again, sitting on my soap box, throwing my toys out of the pram, highlighting how backwards some things in life really are.
I received a phonecall yesterday from an unrecognised number, so I was half expecting it to be from some kind of shitbag in the form of a salesperson. Low and behold, it was a letting agent that had seen a “property available for rent” ad of mine on Gumtree.
Before he commenced with his scripted schpeel, he asked me whether I had found a tenant for the property. I told him I was still in the process of looking, but I had a few viewings lined up. At this point I thought it was a genuine enquiry, even though I was hoping it wasn’t because he had the distinct vocal tone of a common chav. He then furthered his introduction and explained he was a letting agent, and would help promote the property if I was struggling to find tenants *oh GREAT*
Obviously my next line was,
HOW MUCH GREEN DO YOU WANT FOR FINDING ME TENANTS, BRUV?
His response was,
We usually charge 10%, but I’ll do you a special rate of £400. We’ll advertise your property across different platforms like Rightmove and Primelocation. We’re based about 30mins from you, but in the past we have successfully found tenants in your area. We’ll just send you the leads and you can do all the viewings yourself so you can personally interrogate the tenants. We’ll sort out all the contracts for you.
I’ll think about it. Thanks for your time. Peace, homie.
errr…what? He wants £400 just to put my property on a few property portals? And once he receives enquiries, he’ll send them to me so I can take the viewings? I was left there thinking, so what exactly are YOU going to be doing besides from forwarding me enquiries (a task an infant chimp is more than capable of doing in return for a banana)?
I can market my rental property on websites like Rightmove for £30 and take the viewings myself. That’s a saving of £370. I have no idea what i’d save as a percentage, but it’s a boatload.
I refuse to pay £400 for an agent to sit on his fat ass and click a few buttons to forward a few details over to me. At least offer me a service for £400!!
I know times are tough right now in the property industry, but please…don’t go ripping people off to claw back some revenue.
Disclaimer: I'm just a simple landlord blogger; I'm not qualified to give legal or financial advice. Any information I share is my opinion based on my personal experiences as an active landlord, and should never be construed as legal or professional advice. For more information, please read my full disclaimer.