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Under the skin of the letting market

Here we share news and views on both the local letting market in & around Oxfordshire and all planned and recent legislation.

There’s always someone who will do it cheaper

As with many things in life, you get what you pay for and ‘cheap’ is not often associated with ‘good service’. We totally understand why a landlord would be tempted by an agent claiming to offer the same level of service for a cheaper price – we’ve been lured in by attractive pricing ourselves.

When we decided to invest in Finders Keepers branded mugs we went with the cheaper option because a mug is a mug, right? Unfortunately, not only were the mugs approximately two months late in arriving, but after their first run through the dishwasher they began to peel. We had to discard them and re-order new ones from a different (more expensive) company and three years later we are still happily using those branded mugs (and sometimes enjoying some cake with them).

The smiley, friendly agent telling you they’ll get you more rent for a smaller fee may seem too good to be true, and there’s a reason for that. For example, our Bicester team valued a 5 bedroom house at £1,700pcm but the landlord went with the agent who quoted £2,100pcm. The property remained vacant for over two months while the rent was progressively reduced until it let at £1,700pcm – a potential lost income of £3,400 – and this is not the only recent example of this tactic.

Agents quoting higher rents and offering lower fees is a ruse to win your business and it is always at the landlord’s expense. We believe that good service is about offering experienced, proactive and honest advice. As the investment guru Warren Buffet said “Price is what you pay, value is what you get.”

So when you need a new tenant who would you rather work with? A qualified agent who will advise you honestly – based on long-term, local experience – or an agent who claims to be able to offer the same service at half the price? For professional, honest and proactive service at a realistic price call your nearest office by clicking here.