Bridging the Agent Income Gap in Style

15 October 2019 | Darren Phillips

Minimise voids, maximise returns, earn yourself extra commission

For letting agents across the UK, the need to attract and engage target audiences to convert a sale or tenancy has never been greater. Developers, especially in Build to Rent (BTR), are constantly unearthing new and creative ways to lock down buyers and tenants with attractive communal spaces, such as playrooms, dining areas and cinemas. While, new mortgage tax rules and the recent legislative changes to tenancy fees make a pressurised marketplace for all concerned considerably more challenging.

To keep abreast of the curve and meet the new financial demands of today, Agents are forced to think smarter than ever about new revenue streams to counter the changes and bridge any expected shortfall.

Despite this state of flux, whether it’s a buy or let, the reality is that there has never been a more pertinent time to prioritise the aesthetic presentation of a property, especially apartments. Too often, developers and landlords play the safe game, cluttering a living space with bland colour palettes and impersonal, disjointed furniture and interior styling. This diminishes the perceived value of the property and plays into the hands of BTR players.

As BTR has significantly increased the expectations of tenants, so getting the feel and look just right becomes more important. Relevant not just for a high-end audience, premium interiors don’t only influence quick conversions and high returns, it also ensures a sense of satisfaction and averts void periods.

At Hatch – a leading UK commercial interior design company – we work closely with our in-house interior design team, Inko, to partner Agents across the UK, especially in all major cities, including London, Manchester and Birmingham, providing bespoke and on-trend furniture packages and interior design solutions. We are recommended by Agents to their private rented sector clients, as well as to developers looking to fit-out a home ready to sell.

For us, rewards should be shared. Over time we have strategically built a successful commission scheme that rewards Agents for each recommendation, a model of partnership and future facing thinking that distinguishes Hatch in the marketplace.  Most importantly, we deliver the much sought after additional income stream Agents now crave thanks to the commission paid on each contract, approximately 10%.

Our success is fundamentally dependent on a healthy letting agency market and the new regulations are a calling for all of us to step up and help Agents bridge their income gap. Over the next 18 months, schemes like ours will become more prevalent as Agents generate new and regular income streams, while at the same time performing a valuable service for their clients.

To embrace and evolve with these changes even further, we will soon be launching a new loyalty programme that will provide additional levels of support for Agents looking to partner an approved interior supplier. Our new loyalty scheme will cover Agent recommendations within the private rented sector, as well as the buy to rent sector, reflecting Hatch’s 20 years of sound business sense and interior design excellence.

If you are an Agent looking to keep ahead of the pack, we are ready to assist your every request.

Find out more about Hatch Interiors >