Warning issued over choosing a pub property agent

According to Simon Hall, director and head of pubs at Fleurets, hosts need to look for things like the agent’s website, recommendations and location of office.

Hall’s first point is to find out whether the agent specialises in the sector, and is well-known for it. He said: “Does the agent offer the right local or national coverage to maximise the exposure of your business to the most appropriate buyers? For example, a community local operation in Wolverhampton will require different market exposure to a coaching inn in the Cotswolds.”
Hall said that a quick search on Google will help find out where the agent ranks on the search engine.

His next tip is to check whether the agent has regional offices or a call centre.

“I would suggest you phone an agent to discuss a property they are selling and see what service you get,” said Hall.

He advised publicans to get recommendations from other operators and trade bodies; and check whether the company is a member of the Association of Valuers of Licensed Property or accredited by the Royal Institution of Chartered Surveyors.

Hall said hosts also need to be aware of information the agent is seeking when they meet. “Is the agent asking you detailed questions regarding the property and accounts to fully understand your business and to provide detailed and logical advice?”

Publicans need to make sure the agent will be in contact throughout the sales process. “Too many agents are never seen again and the property is simply listed on a website and enquiries processed by inexperienced people who have never seen your property,” said Hall