Need More Stock!
Wednesday, September 26, 2018 By Phil Graves
When a retailer is busy, they can boost their stock levels by ordering more, subject to availability, from their suppliers. This will continue to boost sales and of course, profits.
The difficulty in the service sector (property related) when through your high level of ability on sales and lettings, you start to fall low on 'stock' - or instructions. We are definitely experiencing this in our Brighton commercial office and the team are exploring ideas of gathering new instructions.
Despite Brexit talks, the uncertainties of the economic future in the UK, High Street sales under pressure from the internet, the restaurant sector closing outlets and interest rates rising, we are experiencing a different story.
Enquiry levels are on the up, healthy premiums are being achieved on retail units, office rents are rising and multiple bids are being made on investment and development opportunities. We are letting to multiple retailers, local business, acquiring investments at low yields for retained clients, acquiring new office space at increased rentals for retained commercial clients and September seems to be a record month for deals being placed into solicitors hands - all welcome of course, but nevertheless it still leaves us low on new instructions.
The temptation, as we see in many competitive residential markets, is to reduce your professional fee levels and/or begin to overprice rental or freehold valuations to have an edge on your competitors, but is this really the way to go? Are we as a profession not then susceptible to chasing our fee levels down to rock bottom and the client then simply gets the service that they pay for - all pretty low standard.
At GJ we truly believe we are competitive on fees and as we are a long established, highly self regulated and professionally trained Company, we can offer professional advice and local knowledge that will give the client an edge to either sell or lease their property quickly and efficiently. Saving a few hundred pounds on fees, but to have a delay on letting or selling would cost the client thousands in lost income, so the decision to hire the cheapest surely cannot be the right one.
We offer free of charge professional advice on rental assessments, freehold valuations, lease appraisals and development viabilities and will recommend a marketing strategy alongside the same which will always justify the fee budget and most of the time, deliver a solution in terms of a tenant or a buyer. We should stress that the client should rely on the Companies performance, not just promises - just look at the GJ track record.
So if you are seeking advice, call the Brighton Commercial team straight away and call us in for professional advice to experience the extra value that we can offer.