CPD for letting agents is a legal requirement in Scotland and something we support and talk about often. If you’re a subscriber to our newsletter or a regular attendee at our training sessions you will have heard us speak about often. But what is CPD and why, apart from the legal requirement to do so, should letting agents seek out CPD opportunities?
We know that the lettings industry can be extraordinarily busy and difficult to navigate, and so it can be daunting to fit in regular training around your already busy schedule. However the benefits that regular CPD for letting agents can have for your business are definitely worth consideration. Here are 5 reasons you should consider CPD for you and your team.
1. Add New Skills to your Team
The world of letting is always changing. Best practices and legislation changes are often difficult to keep up with. Stay up to date with the latest industry guidance and add value to your team. An issue we are often asked about relates to short assured tenancies. As short assured tenancies cannot be created anymore, many new letting agents are unsure about the intricacies involved in dealing with this type of tenancy. It’s still vital to know these inside out as most agencies will have a number of short assured tenancies on their books.
A CPD webinar dealing with short assured tenancies (like this one) prepares staff for situations they haven’t faced. Also By training your team in this you can refresh on old topics and ensure you’re up to date with new ones.
2. Maintain Motivation
Investing in your teams development can be a key factor in keeping them motivated. A motivated staff will be far more likely to strive to higher standards and targets. Another benefit of motivation is the likelihood of your staff discussing the ideas forwarded in training. CPD should be more than ticking a box, and a motivated staff ensures this.
CPD for letting agents is vital in ensuring you give your team opportunities for training and betterment. By showing an interest in development your team will be more motivated. All of this leads to a more capable staff with more loyalty to your agency. After all, Scottish letting agencies frequently experience high staff turnover. Training your staff can help combat this.
3. Improve Confidence
CPD for letting agents improves confidence, but not just for your team. The landlords and tenants you work with will draw confidence from the competency of your team. By improving your teams abilities, they will be more confident in their day to day business. The benefits of this will mean providing a better service to your landlords and tenants. Less mistakes and happier customers adds value to your business moving forward.
Enhancing the support offered to your clients is a huge advantage in letting and one of the key ways to improve standards in Scottish letting.
4. It can be enjoyable
Obviously as a training provider we are going to say this, but the feedback doesn’t lie. Attending webinars and in person events can be fun for team members. A visible improvement in your skills is also extremely satisfying as a lettings professional. Feedback from our attendees is overwhelmingly positive. Having your questions answered and interacting with our trainers and fellow learners is something highly valued by our learners.
5. Staying Legally Compliant
We have left this to last, as in our view CPD should be looked at as a training opportunity above all else. However it is important to remember that as a letting agent you are legally required to complete CPD training every 3 years. Specifically, CPD for letting agents needs to comprise of 15 hours of formal training, i.e webinars, and 5 hours of informal training. The informal training can comprise of networking events and free talks, like the Scottish Association of Landlords coffee mornings which can be found here.
We know how difficult it can be to commit to CPD. For Letting Agents especially, finding time to plan training can be impossible. That’s why the LAS team are here to help. We love to help letting agencies plan meaningful CPD to benefit their customers and staff.
Call our office on 0131 553 2211 or send us an email at [email protected]. Let us know when your letting agent renewal is due. Our team will take a detailed look at all your previous training with LAS and create a custom package of training to help you meet your CPD needs.