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  • Buy-to-Let

    Marketing property alongside agent

    Hi

    I have a property listed with an agent on a tenant find only basis. It’s has been on the market for six weeks, and no one has yet taken it. The property is fully renovated and in a good area for schools, shops transport etc..

    I was thinking to create my listing on openrent, gumtree and Facebook to increase the exposure and drum up interest. What is others views on this as i believe that the property listed on openrent will also appear on Rightmove alongside the agent's advert which may confuse applicants?

    Also if I do find my tenant would I still be liable to pay a marketing fee to the agent?

    Many thanks

    Mike

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    Hi Mike,

    It’s possible to list your property with OpenRent and stipulate it not to appear in RightMove or Zoopla etc. However, OpenRent is not so well know amongst masses and you may not get the benefit for prospective tenants finding you, if you advertise in OpenRent/Gumtree etc. Only.

    I found that I got lots of enquires through OpenRent but a great majority of enquiries were not suitable candidates. I learnt to appreciate the work the estate agents do after managing the process myself. It was time consuming. However, I feel the OpenRent process is great from tenants perspective as they will avoid estate agent fees and reference check is only £20/head.

    I have not used estate agents myself, but if I was in your position I would double check the agreement I have with the them. Just to check there isn’t any clause preventing you to list the property with other agents. I would also like to have feedback from the agency why the property is taking time to be let out. It could be that there are generally less people around looking for a new place near Xmas and soon after. Moving is expensive after all. It’s worth checking how many enquiries they’ve had. I would think the agency would be as keen as you’re to find a new tenant as that’s how they get paid. However, I would think that if it’s a good agency they want to find you a good tenant, not just anyone will do. Finding the right people will take time.

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    I'd find the page on Facebook for the area you property is in so for example "house and flats to rent in Halifax" and then look for people that are looking for a property that fits your property's description. It gives you a chance to do a bit of digging on the prospective tenant  before you mention availability. I found it's a great way to find and choose your tenant and if the property is good your strike rate can be quite good too.

    Have you checked the rental achievable and what the market is doing in your local area?

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