As well as having excellent negotiating and sales skills, lettings negotiators must have a sound working knowledge of the Housing Act and other lettings legislation. They must also have experience of performing market appraisals, dealing with landlords and negotiating with prospective tenants. Sound admin skills, a clean driving licence and experience of working to targets are desirable attributes.
A Lettings Negotiator works within an estate agency or a property management company and their role is essentially twofold - to source landlords who have property to rent and to find tenants who want to rent or lease that property.
The negotiator's role is to source the property from the landlord, advise the level of rent achievable, advertise the property, source potential tenants, accompany tenants on viewings and negotiate rents and terms of the rental contract. Once a contract has been agreed between tenant and landlord, the negotiator must ensure that the property is ready to be occupied and perform inventory checks before the tenants move in.
Lettings negotiators can work in residential or commercial property, or in a mixture of the two.
Identifying and targeting landlords with property available for rental or lease.
Accompanying tenants on viewings.
Giving advice to landlords on rental or lease values.
Advising tenants and landlords on contract law.
Advertising properties in the press and on relevant websites.
Negotiating rents with tenants and fees with landlords.
Performing inventories prior to occupation.
Liaison with sales department to identify potential new landlords.
There are no specific qualifications needed to become a lettings negotiator. Most employers will require a sound level of education and some may even ask for you to have a degree. Experience is generally the key criteria employers are looking for.
Recent salaries for roles advertised at time of writing (Nov 2009) include:
£18-40,000 OTE plus car for a Senior Residential Lettings Negotiator for an expanding estate agency in Epsom, Surrey.
£10-30,000 OTE plus car for a Graduate Trainee Lettings Negotiator for a property management company in Docklands, London.
£18-50,000 OTE for a Commercial Property Lettings Negotiator for a commercial property specialist based in the West End, London.
£17-45,000 OTE for a Lettings Manager/Negotiator for an estate agent in Manchester.
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