Can i use multiple letting agents?
Brokers advertise at similar online locations (Rightmove, Zoopla, Primelocation to name a few). So if you contact multiple letting agents, potential tenants will see your property repeatedly. This gives your property an inconsistent marketing strategy and can look desperate. As you might expect, directing a single agent means that you only have one real estate agent to handle your property sale. The agent would have to agree to cancel the contract. So don’t work with a new agent before you can settle down with your current representative.
Tenants who see the same property advertised multiple times on one of the rental websites are likely to be a bit confused. People who are seriously looking for a rental property wouldn’t waste their valuable time strolling past landlord shop windows when the best properties move in rental so quickly that they would miss out on something every time they didn’t use the Internet. As the internet is the primary form of property advertising, there are actual downsides to using more than one rental agent, not just reasons why it is no longer an advantage. So, without further ado, let’s answer one of the most popular questions sellers have directly.
Many people mistakenly believe that taking on multiple agents increases visibility, speeds up sales, and ultimately makes more money once the sale is complete. However, this can often backfire. Many landlords have the wrong idea that using multiple real estate agents leads to healthy competition. However, this is not the case — it only bears frustration and additional costs. As long as the letting agent you use is promoting your property on ALL leading real estate portals (make sure Rightmove, Zoopla, and Primelocation are included), you only need to use one letting agent because all potential tenants are now looking online for their next rental property, not in shop windows. If a buyer is dissatisfied with their current representative, they can cancel all agency agreements by either agreeing to terminate the relationship by using a notice letter (such as agency contract termination and release) or by speaking with the agent’s broker.
If you’re not happy with your current real estate agent, you can always find a new one. The idea that a broker has access to a database of potential buyers or tenants that no other broker has sounds appealing, but it is completely false. Only rental agents who do this give you full market exposure and therefore rent out your property as soon as possible for the maximum possible rent. Since renting moves much faster than selling, it’s possible that they might think the advertising is fake or outdated, and they could reject it entirely.
Anyone looking in your area will find the property they want to apply for on the portals and then contact the landlord directly to arrange an accompanied viewing. With this in mind, buyers must inform their agent that they are looking with other agents in other areas.