Showing properties that have been "let" can help prospective tenants and others interested in local rental markets to see how the market is performing. A prospective tenant who sees that many outstanding opportunities are quickly converted to "agreed rent" will at least know what he or she is up against. In simple terms, there is a big difference between a "Let Agreed" and a "Let" property. The term "Let Agreed" means that a tenant has shown a serious interest in a property and has made a verbal offer to let it.
This initial offer will have been accepted in principle by the landlord or letting agent and, as a demonstration of the tenant's commitment, the tenant will have been asked to pay a refundable deposit to reserve the property, whilst the necessary reference checks are carried out. The deposit is limited to one week's rent in the case of fixed-term tenancies. Agreed tenancy is a term used to explain that a tenant has been found for a property and the terms and conditions have been agreed. As a result, the prospective tenant will deposit a bond to guarantee that the landlord or letting agent will "hold" the property for them.
Basically, the deposit is like a "reservation fee". The agreed rent is almost the equivalent of "sold subject to contract" when buying a property. Even if a property says "rented subject to agreement", the property will still appear on the market for some reasons. The "agreed rent" means that a prospective tenant has expressed a desire to rent the property in question, has made a verbal offer and the landlord has accepted it.
The tenant will also deposit a deposit to pass the property to Let Agreed, but the agreement is not yet finalised. Anything can happen, so a property in "agreed tenancy" is not officially off the market. As there is no legal obligation on either side, things can fall through at any time. There are a few things that can make this good faith agreement fall apart.
Generally speaking, yes, most will. They usually like to show a rented property, as it means they are good at renting properties and will attract more business. An agreed tenancy is when a prospective tenant has indicated that they would like to rent a property and has verbally committed to renting it. However, the process is far from complete.