Monday, 10 August 2020
The Lettings & Sales Business and Fraser Stretton cement solid foundations of first year by becoming East Midlands Chamber patron
The Lettings & Sales Business and sister brand Fraser Stretton are out to disrupt the property market by handholding buyers, sellers and developers throughout transactions – and hope a new partnership with East Midlands Chamber will help make them a force in the region.
The Leicestershire-based group, which is spearheaded by husband and wife Narinder Singh Nijjar and Jaz Kaur, has today become a patron of the chamber of commerce for Derbyshire, Nottinghamshire and Leicestershire.
It comes hot on the heels of a rebrand last month that launched the estate agency side of the lettings company and marks a year since setting up the Fraser Stretton arm, which provides a full consultancy service to small and medium-sized housing developers when bringing new homes to market.
Narinder said: “It’s been a very promising first year with rapid growth, and now we want to increase our visibility in the East Midlands business community after joining the Chamber as a patron.
“It provides us with a great platform to educate people about how we’re trying to do things different in sales and lettings by removing the stress for everyone involved, while we can also offer expertise in how the property market is faring during these uncertain economic times.
“We’ve also seen the great things the Chamber has done by supporting small businesses like ours, so having that support network around us will be really important in the next stage of our growth.”
Jaz and Narinder's journey to founding The Lettings & Sales Business
Narinder and Jaz, who live in Leicestershire with their two daughters, aged nine and five, have 35 years’ combined experience in property – with Jaz even managing her parents’ portfolio of student houses during summer holidays when she was home from studying law.
After working as consultants to estate and letting agents, in which they would support with functions such as marketing, recruitment and handling sales leads, they decided to set up their own business in June 2019.
It was the same month as a ban on tenant fees was introduced in the UK and the couple had noticed other estate agents no longer wanted to continue with lettings as a result.
Jaz said: “Tenant fees didn’t sit right with us and we felt we could make it profitable without them anyway. We realised we could do this ourselves so we bought out a letting portfolio from an agent.”
The business recorded a 116 per cent growth in its first 12 months, while the number of properties it has listed increases from 70 a year ago to 200 now.
In July, it took a big step forward by rebranding to The Lettings & Sales Business – a move that coincided with the launch of the sales arm, which was set up because the company had been passing up on numerous opportunities from clients asking them to help sell properties.
Four full-time staff have also been hired, with the company moving from Narinder and Jaz’s home into a converted barn in Stoughton, Leicestershire – where it has just signed a deal to expand its space.
Covering Leicestershire, Nottinghamshire and parts of the West Midlands, the company’s modus operandi is moving quickly in the market, with a goal to agree lets within seven days of homes being listed and sales within a month.
Marketing is one of its strengths as it uses virtual tours and 3D floorplans, while listing on the most popular property portals.
It also offers bespoke services such as support with landlord insurance, accounting and licensing laws as part of its ethos to be “not just another agent”.
Jaz said: “On the sales side, when we go out to value a house, we try not to overvalue it just to get an instruction.
“The vendor wants to actually be able to sell their property and don’t want to be locked in for months on end while they wait for an inflated offer.
“When this happens, the homeowner loses confidence in their own property and buyers think there’s something wrong with it, so the quicker turnaround we can get, the better.
“That’s why, rather than playing the numbers game, we’re looking at offering a quality and bespoke service with no hidden fees.”
Fraser Stretton takes away pain from housing developers
Operating alongside The Lettings & Sales Business is Fraser Stretton, which was set up in August 2019 to help small and medium-sized housing developers sell new-build homes.
Narinder said: “Many estate agents have a one-size-fits-all approach to market properties on behalf of developers, no matter whether they’re building one or 50 homes, so we realised there was a gap in the market for managing that whole customer journey.
“We help them with creating CGI videos and still images so they can start selling properties before they’re built, as well as elements like the help to buy schemes, signage and manning the marketing suite.
“Companies have said we’ve removed all the noise so they can get on with building the homes knowing they’re being marketed appropriately.”
As well as joining as a patron – creating a symbiotic working relationship that will inform the Chamber’s activities in enhancing East Midlands businesses and communities – The Lettings & Sales Business and Fraser Stretton will sponsor the Generation Next Young Business Person of the Year category at the East Midlands Chamber Leicestershire Business Awards.
Scott Knowles, chief executive of East Midlands Chamber, said: “We look forward to working closely with the Lettings & Sales Business and Fraser Stretton, which are fantastic small businesses that have a strong ethos to set them apart in a hugely competitive industry.
“Narinder and Jaz have a fascinating story of using their experience in working alongside other businesses to carve out their own niche and in turn offer excellent career development opportunities to their growing team.”Back