Why the Cheapest Agent Isn’t Always the Cheapest.

When landlords search for an agent to let their property, price is often one of the first things they look at. It makes sense, right? Keep costs down, increase profits. But what if I told you that choosing the cheapest agent can sometimes end up being the most expensive mistake?

Let me share a real story… The £20,000 Mistake.

A few months ago, I met a frustrated landlord who had their high-end property on the market for over four months. It was a stunning home, listed at £5,000 per calendar month, and advertised with two separate agents; both offering low fees that had seemed like a no-brainer at the time.

But during those four long months, only a handful of viewings took place and none led to anything remotely serious. The landlord found themselves constantly preparing the house for viewings, only for potential tenants not to show up. Even worse, they had to conduct most of the viewings themselves because the agents didn’t want to travel for them.

Frustration grew. Month after month, the property remained empty. The landlord grew increasingly frustrated and rightly so.

By the time we spoke, they had lost £20,000 in potential rent.

After I visited the property, I immediately knew the agents were undervaluing it despite no offers from them for over 4 months. I told the landlords confidently:

“I can get you £6,000pcm, and I guarantee I can let it within 3 weeks.”

Their reaction? Hesitant. My fees were higher than the other agents. They decided to wait a little longer.

A few weeks passed, still nothing.

Eventually, they came back to me.

I listed the property at £6,000pcm, just as I promised. But I didn’t just stick it on Rightmove and wait for the phone to ring. I presented it properly, ensured it stood out in a crowded market, marketed it across multiple channels, and (most importantly) I got to know exactly what kind of tenant the landlord was looking for.

Within two weeks of the property being on the market, I had an offer.

A tenant who was exactly what the landlord had hoped for. They passed referencing with flying colours, paid their deposit and first month’s rent without delay, and the tenants collect their keys next week.

Just like that, the property was finally occupied at a higher rent, with the right tenant, and zero stress for the landlord.

So how did I do it?

Presentation. Exposure. Service.

I don’t just chuck a listing on Rightmove and cross my fingers. I get to know my landlords. I understand what tenants are really looking for. I showcase the property in its best light and make sure it reaches the right people.

The Bottom Line… The “cheapest” agent might offer the lowest fee but if your property sits empty month after month, how much are you really saving?

In this case, the landlord lost £20,000 in potential rent trying to save in fees. When they finally chose quality over cost, they got exactly what they needed quickly, professionally, and profitably.

Sometimes, paying more gets you more. Not just in terms of service, but in actual return. Choosing an agent isn’t just about fees. It’s about value.

LANDLORDS… Next time you’re choosing a letting agent, ask yourself:

Can I afford to choose the cheapest? Or should I choose the one that gets results? Because sometimes, paying a little more gets you a lot more.

Are you a landlord with an exclusive home or a homeowner considering letting in England? I would love to hear from you. Send an email to Kierah.Hudson@haart.co.uk to discuss or arrange a FREE rental valuation.