Section 1 – What’s Involved in Running an Agency?

Running a Letting Agency

Two core service options:

• Tenant Find (Let Only): Find a tenant, set up the tenancy, and hand over management for a one-off fee.

• Full Management Service (Fully Managed): Handle everything ongoing — tenant sourcing, rent collection, compliance, maintenance — for a percentage of monthly rent.

Your role will involve:

• Promoting services to landlords

• Providing rental valuations

• Sourcing and matching tenants

• Viewings & tenant referencing

• Tenancy paperwork & inventories

• Rent collection, statements, inspections, maintenance

• Compliance management

• Check-ins, check-outs & re-letting

Running an Estate Agency

Core goal: market property, introduce buyers, and earn commission (1–1.5% typical).

Your role will involve:

• Promoting services to vendors

• Providing sales valuations

• Marketing properties & sourcing buyers

• Negotiating sales offers

• Liaising with buyers & sellers

• Referring mortgage, insurance & conveyancing services

• Managing chains & progressing sales

• Key handovers