Leading with evidence

Goodchilds offices were overjoyed at the start of 2009 having secured recognition as a UK award winning letting agent. Our continued relentless drive to service the lettings market place has been recognised again with an independent survey, which has evidenced that our market activity is clearly representing the interests of investors and landlords.

The Goodchilds formula
Ailsa Robinson, Franchisor (Bloxwich) offers the following comment: --- “The service cost structure for Goodchilds is not like a secret cooking recipe and neither is it like one of those one off wonderful meals that we prepare but we don’t remember what the ingredients were? (How many times have we done that?)”.

“Seriously, the cost structure and service levels within Goodchilds are well documented. It is often imitated but remains unrivalled and offers to landlord’s commercial assurance that they are partnering with a leading agent, which offers to landlords a ‘value for money product”.

Over valuing ----- oh what a joy!
There are four key values within the Goodchilds philosophy –
                                      Excellence, integrity, innovation and people development.

Regrettably, our industry sector is plagued with bad press with both sales and lettings with allegations of over valuing --- and to be frank, with the exception of a handful of reputable agents, the accusations of over valuing and false promise is very real.

Richard Price, Franchisor (Cannock) offers the following comment: --- “Over valuing of property by other agents has been a key growth area for Goodchilds. All too often prospective landlords are provided with flawed information about what is happening in the market and in order to secure an instruction the agent will over value the property”.

“Goodchilds are fanatical about lettings and we know the market place. Sadly, despite our commitment, we often lose instructions to other agents who over value property and provide false promise rather than fact about what they can deliver”.

“But there is some great news ---- We watch and track every over valued property ---- and you’ve guessed --- we regularly receive the transfer of instruction when the landlord is disillusioned with failed delivery by the other agents. We always remind prospective landlords about over valuation and whilst other agents (may I add not all agents) continue to over value, then the realisation by promise disappointment will continue to be a growth contribution to Goodchilds”.

 

The current credit crisis has presented all organisations with commercial uncertainty and the social pressures upon individuals are unprecedented against anything that we have witnessed before.

Without exception all industries will have responded to the current crisis but the letting arena has witnessed a set of dynamics that is commercially very worrying --- but organising the deck chairs when there’s water coming over the decks is a requirement that is all too late.

Michael Warke, Director offers the following comment: ---   “The collapse and freefall of residential sales will be a story that is told at breakfast meeting for a long time to come. However the infrastructure to present a lettings service into the public arena is immense and fundamentally different to the selling of residential property”.

My concern for prospective landlords
Goodchilds have very clear and separate strategies for the ‘selling and letting’ of property but the last 12 months has witnessed the growth dabbling enterprises. We have observed High Street Estate agents dabbling with lettings and new start ups in our local areas have sadly come and gone.

Property investment can be single units through to multi million pound portfolios but the ‘risk management’ for landlords is always the same --- who can capitalise the revenue return on my investment and whose brand has the power to attract a sufficient amount of creditable tenant enquires?

So whose risk is it any way? ---- “my point is – if lettings were not a strategic intent in a buoyant market, then why would you dabble during a period of commercial uncertainty? The costs, the knowledge, the expertise and the brand needs to form the bedrock of any new enterprise. The confidence that Goodchilds can offer to prospective landlords is that Goodchilds really do have a commercial DNA for lettings and sales”.