How to become a Letting agent?

[burtie wooster]

Hi to all,
I currently run a property maintenance company and provide services to Letting Agencies. I have now come to the decision that as my company has now grown and i can take a bit more of a back seat that i would like to venture out into the letting world as an agent. I have surfed the net to find courses ect. and have found a number of different options! can any one recomend any courses, books, software ect.?? I look forward to hearing from you!:D

[mind the gap]

Hi to all,
I currently run a property maintenance company and provide services to Letting Agencies. I have now come to the decision that as my company has now grown and i can take a bit more of a back seat that i would like to venture out into the letting world as an agent. I have surfed the net to find courses ect. and have found a number of different options! can any one recomend any courses, books, software ect.?? I look forward to hearing from you!

If your username is anything to go by, you will be ideally suited to the job :D

[Rodent1]

If your username is anything to go by, you will be ideally suited to the job :D

Why, sounds a bit saucy to me ?

[subsalesman]

Hi,

I think that the Arla course manual is £190 + and exam fee of £100. Just read and understand the manual then sit a 4 part multiple choice exam at one of their test centers. The manual is thorough although (in my view) £190 is a lot of money for an A4 ring binder and a CD.

Arla is not the only course / professional association, but I think its the largest, and its the one people talk about in property books.

[jta]

Or........search the forum for where MTG and Agent 46 and some others put the answers down without reading the course, I can't find it for you, but I bet someone will. ;)

[jeffrey]

Hi to all,
I currently run a property maintenance company and provide services to Letting Agencies. I have now come to the decision that as my company has now grown and i can take a bit more of a back seat that i would like to venture out into the letting world as an agent. I have surfed the net to find courses ect. and have found a number of different options! can any one recomend any courses, books, software ect.?? I look forward to hearing from you!
Best option: read LZ's Letting Agents Forum threads.
'Ect'?

[mind the gap]

Or........search the forum for where MTG and Agent 46 and some others put the answers down without reading the course, I can't find it for you, but I bet someone will. ;)



http://www.landlordzone.co.uk/forums/showthread.php?t=16081&highlight=NFOPP

Also of interest:

http://www.landlordzone.co.uk/forums/showthread.php?t=11857&highlight=NFOPP

[estateagent]

Go for it, I believe ARLA would be a good starting point with regards formal qualifications & offering the correct 'procedures' type of guidance. Though this takes care of the practical side, marketing the business or even just the properties for rent is another factor that you will need to consider.

Good Luck with your venture.

[burtie wooster]

Thank you for all your help.! I am currently looking into the ARLA course.:D

[johnboy]

The ARLA courses are good and you get a blinding good lunch (should be for the cost) but i never saw any benefit (as a agent) in becoming a arla member that why we are not members any more.

Whats the view of other agents on the forum?

[Sportingdad]

Mine views of ARLA are quite well known.

Have in the past considered this, but reckon that in 20 plus years of trading non-membership may have affected 1% of new properties taken on when we actually want the property, this could be a nervous new Landlord who Mortgage Company insists. I have within a mile of our office 7 Letting Agents and 4 are ARLA unfortunately in terms of efficiency they are always the ones we are taking keys from, if they can find them! I have over time employed a few ARLA trained staff and note they cannot close deals (which is 90% of the job) so now tend to avoid them. I want clever happy street sharp staff rather than worthless diplomas.

I am not surprised about the LZ ARLA trainer and promoter and friend of the high powers to be in the Association has still really not responded about the one ARLA person per twenty offices saga, or indeed the latest documented “financial difficulties”.

So I just see it as a sticker on the window organisation similar to a franchise operation “become a LA after a 3 week intense course” mutters the self branded “UK’s No 1 Letter Agent”, nothing beats experience sticker or not.

[Paul_f]

I am not surprised about the LZ ARLA trainer and promoter and friend of the high powers to be in the Association has still really not responded about the one ARLA person per twenty offices saga, or indeed the latest documented “financial difficulties”..I hope this doesn't refer to me but if it does it's inaccurate.

[Sportingdad]

I hope this doesn't refer to me but if it does it's inaccurate.

Sorry unless mistaken you have answered elsewhere that you would
bring it to the attention of the CEO.

http://www.landlordzone.co.uk/forums/showthread.php?p=157028#post157028

[mind the gap]

This spat about ARLA politics has all the tension and texture of an old pair of gym knickers.

[Sportingdad]

I must agree with you this time mtg, and fell over laughing on your final comment in the link !

[Paul_f]

Sorry unless mistaken you have answered elsewhere that you would
bring it to the attention of the CEO.That bit was accurate and I did, but most of the rest of the post is not.

[Sportingdad]

Paul F, so as the promoter of ARLA on here maybe you could respond as from what I understand they (ARLA) don't lead by example and are still hoping this disapears in time So to an outsider like myself ARLA look like a sort of shifty front, how can there issue directives to thier members but don't abide by thier own rules, and do you know anything about ahem the financial concerns that led to the Stewart Lilly resigning from the board of NFOPP the almagamated NAEA/ARLA ?, I'm just interested to get an answer rather than a fob off !

[burtie wooster]

WOW! So was it bad advise about doing a ARLA course then? I know nothing can beat on the job training but due to running another business this is just not possible! Please help!!!!

Many Thanks:D

[mind the gap]

WOW! So was it bad advise about doing a ARLA course then? I know nothing can beat on the job training but due to running another business this is just not possible! Please help!!!!

Many Thanks
:confused: Thought you had time to take a back seat in your current job?

Anyway, although it isn't exactly neurosurgery being a letting agent, it does seem to be the case that many of them (judging by the tales of woe and tirades against them on this forum) struggle to do it competently. Perhaps they are the ones who, like you, thought they could just swot up the basics using a spiral bound manual (for which someone like Paul f' or his mates will relieve them of £200), then launch themselves into a glittering new 'career' in an already overcrowded market. Your background in property will help; at least you will know the difference between a subsidence crack and damage from tenant's drunken rampage, and you might even be able to unblock a drain - a dying art! However, many letting agents get the legal stuff wrong and many others get the 'human' stuff wrong as well.

Far better to organise some work experience (unpaid if need be) with a large successful letting agents and take it from there.

I can see the attraction, in that it must seem like easy money compared with the solid hard work you have presumably been doing up to now. But for what it's worth, I think you are mad!

[johnboy]

:However, many letting agents get the legal stuff wrong and many others get the 'human' stuff wrong as well.



I couldnt agree more and if you are a agent i find you sometimes tend to consenstrate on the legal more than the human.

[burtie wooster]

I didn't realise this forum was here for people to have a good old moan! All I asked about was a recommendation for a course!!!

A question to the people who didn't say anything constructive! How succesful are you???

[sjcollett]

Hi, I don't think the comment was meant like that. As an agent myself, it is hard work and when people say they are looking for a course to 'become an agent' you can't help but feel 'dismayed' that people think you can 'learn' to be a good letting agent from going on a course overnight.

Please don't take offence, perhaps it would be worth sharing your goals as to why you want to go into this business? maybe then you could see if the business suits you? Or people here could try and help you further

[cymro123]

More people will say you can't than you can. Don't listen. Anything's possible.

[mind the gap]

More people will say you can't than you can. Don't listen. Anything's possible.
No, it isn't! Please qualify, if you want to make any sense.

[quarterday]

if you are really keen to do this, (and it may be a higher risk venture than you perhaps realise) target the better end of the market. More or less the same amount of work to let a dump for £80 or £100 /week as a substantial property at three or four (or more times) the rent.

There's good money in doing maintenance work/contracting for established managing agents, especially drainage repair work. You might getter a bigger bang for your buck by marketing your maintenance business to the prestige management companies!

Good luck

[burtie wooster]

Hi all,
thank you for your replies. I thought that it might be a good idea to combine the two (lettings and maintenance), the reason being is that at the moment I feel that the letting agents hold alot of power over me and my company. For example if one of the agencies pulled out I would then have to cut down my man power which would mean good people losing their jobs!
I know I shouldn't worry too much as I have been serving these agencies for more than 6 years now, but I would just like to have some sort of safety net.
Do you think that I am wasting my time pursuing this industry? I was not going to go full on to start with just build the portfolio up gradualy.:confused:

[Snorkerz]

I thought that it might be a good idea to combine the two (lettings and maintenance), the reason being is that at the moment I feel that the letting agents hold alot of power over me and my company. I think starting up in competition with your customers could lose you customers quicker than you could find landlords!

[Poppy35]

And I know personally you need a portfolio of at least 100 to make it profitable to be honest

Its bloody hard work keeping everyone happy and you may also find a lot of clients dont like dealing with LA's that deal with their own maintenance as they dont feel they are getting the best prices etc.

Good luck with it all and whilst course are good and get you qualified in doing things the right way, years of experience counts for a lot and knowing your market and your clients.

Good luck with it all!

[Wickerman]

From personal experience I would recommend not offering your own maintenance.

Landlords expect good value for money, and if they always get the work done by one person there is no comparison of costs. Stick on a commission for arranging (and checking) the works by all means (make sure it is charged transparently and part of your standard T&Cs. Do not add a % on to the works without declaring it - this is a secret profit and is illegal.

You will also find it hard to keep contractors fully employed - can your business bankroll a single tradesman salary for a year while you build up? Two? Three?. In a situation like this it would be easy to start inventing work to keep them occupied and propping up one business with the other. Inevitably both will collapse as landlords tire of ever increasingly dodgy maintenance charges.

[estateagent]

Used to manage a Lettngs Agency that was ARLA registered, & no advantages what so ever. Unfortunately like many of these bodies within Lettings / Estate agency they are merely another "sticker" for the window.

[johnboy]

I would say from my expirence for at least 75% of L/L's a agent being a member of ARLA doesnt even come into their decision making when choosing a agent.

But i think that it because they dont know what arla is or offers.

[Poppy35]

I agree with Johnboy too, have never been asked whether we are members of any professional body at all and like JB also comments, I not sure whether L know what ALRA means or offers.

[iffy]

Sorry to hijack the thread, I understand that being a member is probably no benefit but what about the course material they offer? Would it not be a good idea to arm yourself with the knowledge and then use knowledge to build the experience?

[mind the gap]

Sorry to hijack the thread, I understand that being a member is probably no benefit but what about the course material they offer? Would it not be a good idea to arm yourself with the knowledge and then use knowledge to build the experience?

Probably not in this case, no.

[cymro123]

Sorry to hijack the thread, I understand that being a member is probably no benefit but what about the course material they offer? Would it not be a good idea to arm yourself with the knowledge and then use knowledge to build the experience?

The course material is not very good. It covers most of the key topics but the material was in hard copy that contained 100ish errors and inconsistencies and by the time I read it it was out of date (well some parts, obviously not all). Despite the ridiculous price I was never sent updates and the fact that it was written on parchment made searching for keywords and key points difficult.