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    multiple agents

    not too happy with current rental agent finding somebody - okay to use somebody else -do i have to inform both parties of my actions? whats best way forward??

    #2
    Originally posted by warburtons View Post
    not too happy with current rental agent finding somebody - okay to use somebody else -do i have to inform both parties of my actions? whats best way forward??
    You can use any number of agents if you wish, as long as you have not signed any form of sole agency agreement with your current letting agent.
    Or you could indeed just go it alone and save the costs.

    Comment


      #3
      agree with colin. We have client who has just signed sole agency agreement with us - she has signed to say we will be sole agency for first month following date property is available.

      She is purchasing house and we are just awaiting exchanged and completion therefore are carrying out some low key marketing as effectively our month starts from the date of completion as thats the day legally the house is hers and ready for occupancy.

      However last week I saw she has advertised her flat with another agent £199 finders fee, including Inventory, utilities and no vat - bargain!

      oh dear.....if she lets thru them she will have to pay them their TF fee plus a fee to us which is more than the TF fee she will pay to other agency! Not sure whether to remind her of the terms she signed with us or let her find out the hard way?

      anyway I digress, yes its fine if agents are happy but PLEASE inform them both and remember that they might not push your property if they know its with another agent.

      good luck!

      Comment


        #4
        Seems counterproductive to me unless all agents instructed are equally good (or equally bad as the case may me).

        * Tenants will tend to check out all local agents anyway.

        * LA, faced with competition may put in an inappropriate tenant "to get in first".

        Fair enough, open it up if LA can't find someone, but if marketing is correct, it won't do any good giving to others... unless tenants are avoiding that particular Agency.

        €0.02
        Now signature free.

        Comment


          #5
          Originally posted by lorenzo View Post
          Seems counterproductive to me unless all agents instructed are equally good (or equally bad as the case may me).

          * Tenants will tend to check out all local agents anyway.
          It's not like estate agents where many are on rightmove, with letting agents it can be much harder work to find what properties they have and the details given out are often woefully inadequate. Therefore I think it does make a big difference between agents as to how widely seen the property is.

          For example I really only ever see those with a reasonable online presence. I can't be bothered to winkle out the others.

          Originally posted by lorenzo View Post
          unless tenants are avoiding that particular Agency.
          There are agents on my avoid list, who unfortunately get a lot of good properties. But as their therms are very unfair I doubt they attract good tenants. So if a landlord wishes to attract good tenants he needs to consider the agent from the tenant's point of view as well as the landlord's, but many landlords obviously don't bother.
          ~~~~~

          Comment


            #6
            Originally posted by Ruth Less View Post
            It's not like estate agents where many are on rightmove, with letting agents it can be much harder work to find what properties they have and the details given out are often woefully inadequate.
            just shows how areas differ. In our area 90%+ I would say are on Rightmove. It is not unknown to do a take-on, then within a few days to find it listed with at least six and sometimes often up to a dozen or more agents.

            Because of this we introduced a marketing fee where multiple agents are used. It is plain and specific in our signed agency agreement. Strange how many landlords claim it is unfair and below-the-belt when we issue and invoice, saying it was not pointed out to them.

            Originally posted by Ruth Less View Post
            There are agents on my avoid list, who unfortunately get a lot of good properties. But as their therms are very unfair I doubt they attract good tenants. So if a landlord wishes to attract good tenants he needs to consider the agent from the tenant's point of view as well as the landlord's, but many landlords obviously don't bother.
            Sadly, most tenants are not forward thinking like this. A local agent who lets more properties than us does not give out Applicants Guidance Notes (unlike us - ours details all costs and procedures for referencing, etc). Their "admin fee" is half ours, but they also have a separate referencing fee a signing fee (per person), inventory contribution fee, brown shoes fee, jeans on a Saturday fee. By the time tenants move in they will have paid at least double or even more of our fees.
            On some things I am very knowledgeable, on other things I am stupid. Trouble is, sometimes I discover that the former is the latter or vice versa, and I don't know this until later - maybe even much later. Because of the number of posts I have done, I am now a Senior Member. However, read anything I write with the above in mind.

            Comment


              #7
              I use upto a dozen agents at any one time ...sole agency.... not for me .....a lot of lets are on a "walk in" basis(to LA office) so i find this produces faster results ...have arrangement with most agencies that as soon as they have taken deposit; i take over, as most are not up stringent Refs and ast that they use are Sxxx ...

              Obvously this is reflected in (negotiated) reduced fee that i pay...
              Last edited by Rodent1; 02-10-2007, 11:11 AM. Reason: typo
              A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.
              W.Churchill

              Comment


                #8
                Originally posted by Esio Trot View Post

                Sadly, most tenants are not forward thinking like this. A local agent who lets more properties than us does not give out Applicants Guidance Notes (unlike us - ours details all costs and procedures for referencing, etc). Their "admin fee" is half ours, but they also have a separate referencing fee a signing fee (per person), inventory contribution fee, brown shoes fee, jeans on a Saturday fee. By the time tenants move in they will have paid at least double or even more of our fees.
                I agree totally - we issue guidance notes and the like unlike other agents in the town and our fees are lower than most of the corporates too. I always point out that our fees are inclusive and we dont charge re-let costs, termination check fees, pink shoe fees (different colour - same charge!! ).

                with regards to my post - spoke to the client this morning as she returned call and despite some alterations in our Terms of Business that we both signed she denies not being aware of the multi agency charge! Doh!!!! she obviously has selective eyesight and only reads what she wants to! Pointed out worst case she has to pay us both which she is happy to do - strange considering she has not even completed yet! Luckily I know the estate agents who are putting off the other agents from collecting keys!!

                Whats most annoying however is the fact that a Landlord goes to other agents and does not have the balls to tell you - that really get my goat!

                Comment


                  #9
                  Originally posted by Poppy35 View Post
                  Whats most annoying however is the fact that a Landlord goes to other agents and does not have the balls to tell you - that really get my goat!
                  That's not the most annoying. I think the following two scenarios are worse:
                  • We go and do a viewing on a Saturday on the understanding that the property is still available (it was on our previous viewing on Thursday!). We use our key and march in to find that tenants have already taken occupation through another agent. Nobody told us!
                  • We move tenants in having done referencing and told the landlord by telephone and in writing that this is the case. After a few days we get an irate call from the tenant saying that while she was in the bath she heard noises. Although worried, she got out of the bath and robed herself and went to see. It was another agent doing a viewing who hadn't been told of the let.

                  Both owners in the above cases got a flea in their ear from me
                  On some things I am very knowledgeable, on other things I am stupid. Trouble is, sometimes I discover that the former is the latter or vice versa, and I don't know this until later - maybe even much later. Because of the number of posts I have done, I am now a Senior Member. However, read anything I write with the above in mind.

                  Comment


                    #10
                    I know what you mean about all the fees! (jeans on a Saturday fee ). I simply ask what all fees are up front such that I know what it would cost to stay a year. I add 1/12 of that to the monthly rent to compare how much it will actually cost to live in the property. The mark ups I've collected vary from 4.89 pcm to 29.97 pcm, but that was before TDS!

                    But the terms of the AST matter too. I missed out on one flat as it was on with an agent with unfair terms. I found out later that the LL was going to self manage and use his own contract. What a pain the agent didn't tell me that when I was querying their very unfair contract, they just said the contract wasn't negotiable! But how was I to know the LL wasn't planning to use the one the agent had given me to read. If the unfair agent would only put on their ads if they are not managing a property I'd actually apply for those ...

                    I had not realised all letting agents don't get called off when the property is let so I will in future look out for this when I next move in somewhere! I did make them take one place I rented off the sales market as I didn't want buyers turning up, I just happened to find the place for sale on rightmove and realised it wasn't taken off the market when I was signed up as a tenant.
                    ~~~~~

                    Comment

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