Do you view the Tenant Fee Ban as a threat?
It’s really an opportunity – make sure you grab it!
The upcoming Tenants Fee Ban on Jun 1st is focussing the minds of a lot of letting agents currently. The natural reaction will be to view this as a major threat to your business, and indeed the loss of this income stream would be a blow to any business.
But there is a flip side. Faced with such a threat, the most forward-thinking agencies are using this as an opportunity to examine and rationalise their business processes to ensure they don’t just survive but actually thrive going forward.
Add value to your business and create real efficiencies
Outsourcing is one area where you can add value to your business and create real efficiencies, rather than just increase costs. This might seem an awful idea, as after all, no one knows your business better than you, so how can an external company add value to it?
The answer lies in focusing in on those areas of specialisation in your business which, although important to you, do not necessitate you needing permanent in-house resource. One such area where most agents are probably already outsourcing is EPCs. So, if it is acceptable to outsource this important task, why not consider it for other processes as well?
Cope with the peaks and troughs
As well as saving money, outsourcing can also deal more effectively with the peaks and troughs of demand. This is because the outsourcing company will have the critical mass of resources to cope with your highs while also being able to ride your particular low, due to their other customers.
The important thing when choosing an outsourcer for any service is that you feel confident that they can provide the service as good as (or even better) than you do currently. They are effectively representing you, so this is vital in ensuring the long-term reputation and growth of your business.
Boost your income by earning commission
Don’t miss out on the opportunity to earn commission either. It can add up to a substantial amount for relatively little effort on your part. When you work with a reputable and FCA regulated partner you don’t have to do any selling – it’s simply a case of capturing leads and distributing information.
If that makes you feel uncomfortable, it shouldn’t. The products are designed to meet the real, everyday needs of landlords. They include practical services like those in our Rental Essentials suite and reassuring Rent Protection insurance. You’re offering landlords an easy route to the things they need, that’s all. And for doing that, we estimate it’s possible to earn up to 60% of what you’ll lose when the fees ban comes in.
Grab these opportunities right now
Outsourcing and commission earnings are more than a lifeline. They’re the chance of a new, profitable and exciting business model.
If you would like to discuss how we can help you outsource some of your processes, or if you’re interested to learn more about our commission scheme, get in touch now. We’d be happy to talk.