Although businesses in the industry are not untouched by the pandemic, the property market is booming, and one company’s owners have seized their opportunities to follow in its footsteps.
It’s under great strain and uncertainty that businesses have adapted to the changes brought about by the coronavirus outbreak, but a lettings and sales agency based in Stoughton, was unknowingly prepared for such an event.
The aptly named Lettings and Sales Business was formed in June of last year with virtual tours created for the benefit of home hunters, sellers, and landlords alike. They had already built two offshoot companies: 1 Stop Maintenance specialising in repairs and renovations; and Fraser Stretton, a bespoke new build sales specialist for small- to mid-sized developers. They’d also previously adapted quickly to the end of tenant application fees and began cost-saving measures with ideas such as e-signing instead of paper form, an idea that co-director Jaz Kaur says “seems simple now” but at the time was just one small change to demonstrate their future-proofing way of business.
The company was originally run from home as The Lettings Business by Jaz and husband and co-director Narinder Nijjar. But with an increasing amount of properties adding rapidly to their portfolio, they needed to hire a team, and with it came the need for office premises.
When the sales arm was added on its first birthday this year, Jaz and Narinder did the math and discovered their property portfolio had grown by 116%, and by September, another 84%.
As the team gathered at Winstanley House for Niche’s cover shoot, and partly in celebration of a 200% growth spurt, the room was full of excitement. The team, Narinder says, is another component to their company’s growth story. He added: “We wouldn’t ask anything of our team that we wouldn’t be willing to do ourselves. And we’re not just the face of the business, we’re not just another agent, we’re at the forefront for our clients too.”
As the photoshoot took place it was clear that this was a group of people who have enjoyed sharing in the success of the Midlands property consultancy business.
But how is it that the company has succeeded through what has been the toughest year of all for most businesses?
Read the full article in Niche Magazine.