Letting agents can – and should – be aiming for 50% profit margins
That’s the message from industry expert and former ARLA president Sally Lawson ahead of her much-anticipated annual event. With more than three decades’ experience, Sally set up Agent Rainmaker to support other agents to maximise their profits, grow their business and enjoy more personal freedom as a result.
Their signature event Agent Rainmaker Live runs from 10th to 12th September in London, with a packed programme of expert speakers, real-life success stories, and much more.
While Sally has successfully mentored agents to that 50% margin goal, there’s still hesitancy in the sector about whether it’s even achievable – with the majority of respondents to a recent Agent Rainmaker survey stating that somewhere between 10% and 30% was realistically achievable for them over the next 12 months.
With the rental sector growing, it’s perhaps not surprising that the majority of those same agents felt excited or optimistic about the future of the industry – with only a small percentage feeling nervous and more than a third either currently recruiting or looking to take on additional staff within the next six months.
Sally says: “Now the restrictions of the past 18 months have largely been lifted, agents’ personal aspirations are mostly focused around enjoying a better work/life balance.
“When we asked them which would be most preferable, they were twice as likely to choose being able to take more holidays, or time out from the business to pursue other hobbies and goals than they were to choose being able to retire early, enjoy a larger pension pot, reduce their hours or work more flexible hours.
“And eradicating their own overtime was a priority for hardly anyone – despite almost a third working between 40 and 50 hours a week, and almost a quarter regularly working in excess of 50 hours per week.”
Achieving that business growth and personal flexibility through increased profit margins is the focus of the Agent Rainmaker Live event – which the team describe as ‘not a training event, not a summit, not a conference, in a category of its own’.
The last time the letting-agent-exclusive event was held in 2019 saw attendees flying in from across the world, and a whole host of fun and dancing, alongside the opportunity to hear first-hand from true experts about everything from leadership to communication.
The event takes place at the Marriott Hotel in Heathrow, with a limited number of last-minute tickets available by searching Agent Rainmaker Live online.