Merchant Services for Estate Agents and Letting Agents

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Libby James
Merchant Services Expert

Libby James is co-founder, director and an expert in all things merchant services. Libby is the go-to specialist for business with more complex requirements or businesses that are struggling to find a provider that will accept them. Libby is regularly cited in trade, national and international media.

How to find the best Estate Agent merchant account

With the average house price set to increase by a further 3% during 2017, the property market is still on its upward trajectory – despite setbacks with increased stamp duty for second homes and the uncertainty that come with Brexit.

Can sellers pay estate agent fees with a credit card?

According to RICS, there are currently over 200 Estate Agents in London alone and online Estate Agency businesses have made a big impression on the market. With online estate agents favouring set fees – and often upfront – over traditional invoicing, homeowners are increasingly paying estate agent fees with credit card, by phone or online, saving time for the seller and resource for the agent during a busy (and let’s face it, stressful) process. There is now an opportunity to pay stamp duty by credit card or debit card, something that has never been available before.

Rental properties

Most landlords require tenants to set up standing order for monthly rental payments, though some tenants prefer payments to be made by debit or card especially if they haven’t got the same pay day each month. The majority of deposits are also paid using debit or credit card, and when tenants sign their agreement the option to pay the first month’s rent and deposit in advance and on a credit or debit card is a useful option.

Seasonal lettings and student lets

Seasonal lettings such as holiday or student lets often mean shorter merchant contracts that run for a matter or weeks or months. These can be very cost effective and giving the option to pay estate agents via credit card is a preference for most customers, especially if it’s a high value rental where they are looking for the added security a credit card payment offers, so having the option available will likely help convert sales.

IVR payments for letting agents

In recent years there has been an increase in rental payments being made over the phone. The reason for this is the trend of weekly paydays and also zero hour contracts for employed tenants, meaning the date in which they pay rent is no longer certain. IVR payment lines for rental estate agents allow tenants to make a rental payments over the phone by card during or after office hours. Payments can be taken 24/7 365 days of the week!

This automated service works by the tenant keying in their card details directly into the telephone keypad, illuminating the need for staff to take card details over the phone and increasing security. Most IVR facilities integrate with customer database, meaning that the systems talk to each other in real time benefiting both the business and the tenants using the facility. Rental records can be updated within a matter of seconds, saving administration time as well as freeing up the main line telephone numbers for future sales.

Find an estate agency merchant account

At Merchant Advice Service our experts deal with estate agency card payment quotations daily and our team of specialist’s have helped a number of businesses in this industry secure merchant accounts. Whether you are new to industry or looking at saving money on your existing contract, speak to one of our experts today.

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Libby James

Libby James Co-founded Merchant Advice Service alongside David Bird in 2016. Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments. This was soon to become Libby’s obsession!

With the help of some of the industry’s best, Libby began to research acquiring banks, complex terminology/regulation, and the problems customers experience within merchant services and payment gateway markets. She spent years on sourcing solutions for complex clients, which previously others were unable to assist with. Libby established relationships with brokers and banks which would soon form the cornerstone of Merchant Advice Service. As a result Libby has been featured in high-profile publications across the web.

Libby is proud to be the entrepreneur’s champion, supporting start-up businesses regularly. Her industry insights can often be found on LinkedIn where she provides free of charge advice and money saving pointers. It’s safe to say she has her finger on the pulse of everything card payments related.

Libby speaks of her experience in founding and running Merchant Advice Service…

‘Merchant Advice Service is one of my greatest achievements to date. We help business owners to overcome card processing issues which can become detrimental to their business. We assist SME’s in finding suitable card payments solutions, helping them create their vision. Each and every day is different, exciting and fore filling. As technology advances I can’t wait to see the way in which the merchant services market advances, and I’m pleased that our business will play a part in educating company owners along the way.’

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