PROPERTYdrum - November 2009
The dedicated letting agent
Sheila Manchester talks to Sue Fitz-Gibbon about her uncompromising approach to the lettings business
Fitz-Gibbon, with three branches in leafy southwest London has specialised in residential lettings for twenty years. It's a crowded market – Rightmove lists 66 agents offering lettings in Richmond upon Thames alone, so what makes the business stand out?
Director, Sue Fitz-Gibbon takes a highly professional stance with membership of ARLA, NAEA, TPO, TDS as well as holding the Investor in People (IiP) accreditation. Her staff are fully trained, ARLA qualified, experienced and enthusiastic. The company has instantly recognisable branding, packing a big, bright, black and pink punch which follows through from their website to the fleet of trendy Minis.
This is the pubic face, the immediate impression of a high-end service; a million miles away from the stereotypical letting agent that hits the (often very biased) screens of Watchdog.
PD: "Would you move into sales?"
SF: "Over the years we've been asked time and again why we don't 'take the plunge' and develop a fully fledged sales service, but the reason is the same as ever; lettings is, at is should be, a highly specialised industry and we know what we're good at."
PD: "Do you feel pressure from sales agents moving into your territory?"
SF: "It's always interesting that when sales agents lose market share they lean towards 'opportunities' in the lettings market but nine times out of ten, they fall off the bandwagon. They discover that it isn't a quick answer to their prayers and we make sure we're around to pick up the pieces; gaining new clients and retaining them. Using sales staff for lettings functions is a dangerous strategy, it can end up harming the company's reputation."
PD: "Would you say you've had it easy or been lucky?"
SF: "Of course not. The lettings market is saturated, most long-standing businesses are experiencing uncertain times; we've consolidated key areas, cut unprofitable areas and increased marketing spend. We have ploughed investment into our offices and promoted our services - you cannot sit on your laurels, you have to be highly visible. We also spend a great deal of time building our relationships within the community, supporting events, fundraising for charities, communication - it's hard work but it pays off."
"A high local profile is important but a company's website is the international window of opportunity. A look at Fitzgibbon.com reveals a very clean, attractive site which is easy to navigate. Some properties offer surprisingly good accommodation for reasonable (For this area) rents, although the smartest home on offer required an extremely deep pocket for a £132,000 per year."
PD: "Who would rent out such an exclusive property?"
SF: "Well, some of our landlords have very beautiful homes; they require careful marketing and thorough management. Our reputation is built on service and although our clients demand a lot (so they should) they trust us. For any business, that level of client commitment proves invaluable."
PD: "But even the less expensive homes look very attractive - do you only take on posh properties?"
SF: "Not all of the properties we are asked to let are perfect, some will need work. We help the landlord maximise his revenue by improving property to attract the 'right' tenant. Our Property Managers have been refurbishing properties for 20 years, overseas and London-based investors are confident in our ability to run with any project. When a client is thousands of miles away, high levels of consumer confidence are vital in developing this revenue stream. Recently we have taken a Kensington property back to the bare brickwork, landscaped the garden and refurbished the flat increasing its value from £450 per week to £650 per week|."
PD: "So what's next?"
SF: "Well, we still have our London portfolio which we operate out of our St Margarets office and we continue to work for new and existing clients with homes in West London - Kensington, Fulham and Hammersmith. As part of our expansion plans we're looking at start-ups and acquisitions in between our existing offices and exploring the Teddington, Kingston and Hampton areas. What we won't be doing is sitting on our laurels!"