As landlords increasingly feel the squeeze, amid increasing regulation and tax changes, some are questioning more than ever the point of paying letting agents.
An agent’s services can be crucial for landlords, especially those who have properties far away or a large portfolio to manage. But for those seeking less hassle and less cost there are other choices, with some preferring to go it alone. But there could potentially be another option.
With so many celebrities and sports stars having thousands and in some cases millions of social media followers is there a market for a “VIP” agency to simply handle viewing, negation and rental or sales progression for a fraction of the normal fee?
Instagram and Twitter are the two most popular social media platforms for celebrities as well as for influencers. A huge variety of users are engaging through these platform. People use these network as a medium to engage with the potential audience, and in some cases attempt to sell a property.
Pop star Justin Bieber, for instance, recently decided he does not require estate agents to help sell his property in America.
He took matters into his own hands last week when he posted several images and videos showing off his impressive mansion in a bid to tempt someone else to buy it from him by taking his users on a mini tour of his spacious property.
Bruce Burkitt, founder of Property Experts, commented: “Just over a week ago, Justin Bieber posted a shot of his decadent pad with the caption ‘I’ll sell it with all the furniture, MAKE AN OFFER’.
“With over 120 million Instagram followers it’s no surprise that his post racked up well over two million engagements.
Michael Douglas has also used social media to promote his home sale recently.
Burkitt continued: “These celebrities have reach and influence over millions of people at the end of their fingertips, while high-street and hybrid estate agents are very much fighting tooth and nail for the attention of a relevant buyer amongst their limited database of applicants.”
He added: “As the power of social media grows, will this have a knock-on effect for estate agents?”