Letting & Estate Agent Podcast Cheap fee Letting Agents - Ep. 2336
Sep 25, 2025
Are letting agents devaluing themselves with the rise of cheap fees? Sophie Lang discusses how online platforms like OpenRent push for lower prices, often sacrificing service quality. She argues that agents struggle to showcase their value, typically only communicating during crises. Through proactive communication and comprehensive services, agents can retain clients and thrive despite industry pressures. Sophie also highlights how rising costs and profitability challenges lead to acquisitions in the market.
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Lettings Lead Fee Race To Bottom
- Lettings face a deeper race-to-the-bottom than sales, driven by stock loss and landlord sales pressure.
- This fee pressure harms the whole industry and undermines agency sustainability.
Online Platforms Pull Stock With Low Prices
- Online platforms like OpenRent and low monthly fees lure cost-conscious landlords during financial pinch points.
- These cheap options offer basics but lack the protection and services full agents provide.
Communicate Proactively With Landlords
- Communicate proactively about everyday work and not only when problems arise to show ongoing value.
- Send regular overview reports so landlords see daily background work and justify your fee.