The Advertising Myth

The Advertising Myth

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It would be perfectly reasonable to assume that as your rental property comes to market, your letting agent will simply post the property details on various property portals and wait for the tenant
enquiries to roll in.

However, this approach is somewhat simplistic and we take a much more strategic and proactive approach to handling new tenant enquiries. There is a fallacy surrounding adverts in that many people think that a property lets as a direct result of the publication of its corresponding advertisement. This is simply not true in most cases.

In fact, the overwhelming majority of tenants who enquire about a specific property do not go on to rent it, but rent something else instead. This is because only limited information can be conveyed in an advertisement, such as rent, location, accommodation and condition. Yet the decision to rent is
usually much more complex and this is something that cannot be adequately conveyed until the property is actually visited.

So whilst it is important to choose a letting agent that advertises extensively (eg, we feature our clients’ properties on a number of portals, it is more important to choose an agent who knows what to do with an ad enquiry than simply putting the tenant on a mailing list!

A good agent will use good ads to attract tenants, and then use their skill, training and judgement to help them identify the right property – which in all probability will not turn out to be the one about which they enquired. This effective method is one of the reasons why we enjoy such an excellent ratio of new applicants to lets agreed, which is of course to our clients’ substantial advantage. Why not join them? Please feel free to call your local branch now for a confidential overview of how to maximise your yields.

Neil Newstead, FARLA MNAEA
CEO – Oakfield Estate Agents

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