The clients of a property agency letting will have different profiles: the most common (although these services can also be offered in case of rental) they will need to manage it, which they can do for themselves or hiring the administration services to a professional or a company, as is the case of the agency.

Given the wide variety of customers that the business can have, the entrepreneur must choose to diversify its offer and try to meet the demand of all of them, or specialize in a specific segment, gaining deeper knowledge and experience in it, and offering a personalized service.

The execution of the agency's activities takes place in the business premises, although certain actions will be carried out in other locations, such as in the farm itself. The transmission of information to customers can also be done in the premises or at the home of the same; it can also be using other means, usually Internet or telephone.

On the one hand, the pricing strategy for this type of business must be based on establishing an amount to be paid by each owner or each house that is part of the community of neighbours that is going to be managed.

Agency Letting

For its establishment, the margins of competition must be considered.

On the other hand, one of the measures that must be taken from the beginning is to define a commercial name that represents the property administration agency and assign a logo that meets the traditional objectives, that is, that it is easily remembered, that it is associated with the service and that it differs from the competition.

We must also take care of the agency's image, both physical and virtual. To publicize the business at the beginning of the activity, it can be advertised through mailbox, by the area where the business is located, and brochures with exclusive offers, as well as advertisements in local press or in magazines of the sector.

One of the best advertising alternatives is the creation of a website of the agency in which the services offered are included and that allows queries to be made; this website must be kept constantly updated, showing an image of quality and professionalism.

On the other hand, the presence in social networks is especially important for small property management agencies that are starting out in this activity. Another option offered by modern technologies is mailing to neighbouring communities and similar groups that are expected to be able to need the services of the agency.

Business forms of agency letting

Word of mouth can become the best form of advertising for the business. This means that, if a customer is satisfied with the service received, in addition to maintaining their trust and loyalty to the business, will make it known to their notorious.

Therefore, it is important that customers are satisfied from the beginning, to make themselves known in a positive way and to achieve their loyalty through three aspects: knowledge of customers, knowing how to serve them and knowing what to do with complaints and claims. The staff plays a fundamental role in this regard: they must transmit professionalism and knowledge of the sector.

The person who is going to start this business is going to be,
normally, a professional with experience in the real estate sector and with extensive training in any of the aspects related to property administration, who has a higher degree. It is important that you have strong negotiation skills and skills in customer service, kindness, and diplomacy.

Agency letting and property management

The functions that the property management agency must perform range from the government and the conservation of the entrusted property to the obtaining of the appropriate performance and the advice in matters related to it.

Thus, the agency acts as manager, manager, advisor (real estate, legal, tax, labour, technical and economic), mediator, secretary and accountant, as main competencies. Depending on whether leased properties or communities of owners are managed, the specific actions to be carried out will vary.

In order to develop these key skills, it will be necessary to have adequately trained staff, either holding certain university degrees that qualify for their performance (such as Law, Economics or Business Administration and Management), or having approved the curriculum of the official schools.

Moreover, the tasks that are developed in this business require generic skills on customer service, to be able to offer quality advice and an adequate and personalized treatment. Negotiation skills, diplomacy and kindness are also needed.