career opportunities in property lettings
The ongoing obsession with property in the UK is great news at the moment as the country enjoys some welcome good news in the sector.
Across the country, house prices are slowly rising, and many companies are starting to build new housing developments, the demand for rental accommodation in particularly massive. These days more stringent regulation on the amount of deposit required to get on the housing ladder has meant many first time buyers are waiting a little longer to get enough money together. This is great news for landlords and anyone seeking a career in property jobs.
With such high demand for renting, there is an abundance of career opportunities in property lettings. As well as many established players in the lettings market, more and more small businesses are starting out to support the increasing number of landlords and tenants.
Daily Role of a Lettings Negotiator
The role of a lettings negotiator is a challenging position with a broad range of responsibilities. To begin with lettings negotiators will start off in the role by getting to know more about the overall sector, this would mean accompanying potential tenants on viewings and taking necessary application details from landlords. Over time, once their knowledge of the market grows they may be given responsibility to advise on rental recommendations.
While learning from the established lettings negotiators in a team other administrative tasks would include:
• Handling tenant applications
• Creating marketing materials
• Handling window display/advertisements
• Undertaking credit references and general reference checks
On a daily basis, the lettings negotiator’s primary task would be to manage negotiations between tenant and landlord. This would mean ensuring that owners achieve the rental income they desire from tenants while meeting the tenant’s expectations around budget and location. On top of this, you would be responsible for making sure that the agency itself also made a healthy commission on any lettings agreed.
There is also a further relationship management aspect of this type of role. On an ongoing basis, the lettings negotiator may need to manage enquiries from tenants in situations, such as any problems with the property that may need dealing with. This could mean taking responsibility for an out of hours’ mobile phone to meet the needs of tenants.
Typically, Lettings Negotiators work from 9 am until 5:30 pm Monday to Friday although you may be required to undertake viewings in the evenings or at weekends.
Benefits of a Career in Lettings Negotiation
There are some advantages to working in the lettings sector. It’s a great role for someone who likes dealing with people and the thrill of achieving sales. You’ll get to meet lots of new clients and see many different properties. You’ll also get to learn about the property sector, and there are opportunities to develop by undertaking the Association of Residential Letting Agents (ARLA) exams. Opportunities for promotion are available, and for those candidates that are driven by sales, there are opportunities to earn a commission.
Lettings Negotiator Salary Expectations
According to research, salary expectations per annum for lettings negotiators are as follows:
• Lowest Average Company Salary - £10,000
• National Average Salary - £15,000
• Highest Average Company Salary - £25,744
On a monthly take home basis, candidates would expect pay packages in the region of:
• Lowest Average £813
• Average £1,100
• Highest Average - £1,716
Salary expectations vary widely depending on geographic region and company. For instance, many of the higher salaries are focussed in and around London and the South East with Savills providing the highest average salary. Across the rest of the UK income levels are very much dependent on the company although most include some form of commission to increase earnings potential.
Lettings Negotiator Key Skills Required When it comes to finding a role as a lettings negotiator perhaps the most important skill is your ability to deal with people and provide high levels of customer service with a sales focus.
It is also important to have the ability to handle large amounts of administrative processes. A keen eye for detail is useful in this aspect of the role, as is a good general grasp of written English and numeracy skills.
An understanding of the property sector may help at interview although the role itself will help you to enhance your knowledge further.