BREAKING NEWS – top 5 stories 26/03/2021

Estate Agent Networking Breaking News

RETAIL SALES ONLINE INCREASING FROM 20% LAST FEBRUARY TO 36% THIS FEBRUARY

As reported in the Times, the amount of the complete spend in retail increased to 36% via online shopping an increase of 16%, from the 20% headline figure last February.

Whilst real estate or estate agency may not see itself as in the retail sector, it is clear with over one third of people buying online, that a digital strategy is required by all agents. Many rely on portals to ‘sell or let’ their inventory, but many forget that their own website is their most efficient shop window, especially during lockdown.

SHAWBROOK BANK TO LAUNCH NEW PLATFORM TO FACILITATE SPEEDIER LOANS

A forward-thinking mortgage lender has been busy during lockdown doubling down on the problem of how to speed up the process of giving a thumbs up or down on a mortgage for a rental property. It claims this can be done in just two days, and is based of course on the latest technology and AVM – automated valuation model.

AVM’s have been around for two decades, but all of a sudden, they are becoming a really huge noise in the proptech sector. As the lending sector – forced by the inability to have surveys during lockdown, realises their latent value. Especially as advances in modelling and AI has moved on dramatically in the past four years. Soon we may have a property listed at 400K that is a 400K property, which means a mortgage could be pre-arranged.

That would cut out the ‘friction’ at offer stage and speed the buying in process. Speaking as an ex- agent of 30 years who spent decades answering calls from surveyors ‘looking for comps’ for a three-bed semi they are ‘valuing’, I think that an automated system based on a large data set is maybe far better than this approach.

FINANCIAL CONDUCT AUTHORITY LAUNCHES NEW INIATIVE

The FCA are encouraging people to inform them of wrongdoing, promising protection for those who blow that whistle. This will of course cover anyone in the real estate ecosystem. The FCA have of late been called out over their low rate of dealing with problems in regulated companies.

HOWSY LOOKING FOR FURTHER CROWD FUNDING TO KEEP AFLOAT

Howsy the lettings platform are looking for a further cash injection, and have apparently announced that they still do not think they will be at break-even for another two years. I am fully supportive of all enterprises that look to automate analogue systems.

But speaking as a founder of Proptech-PR a privately funded start up that launched in May 2020 during lockdown, who used my own cash, paid myself back all my start-up capital about £50,000 after five months – and now have a business that makes 55.7% gross profit pre-tax a month, I scratch my head why will it take nearly a decade for Howsy to ‘possibly’ break even? Maybe we should get on a call?

FIFTH OF LISTED PROPERTY NOW END OF CHAIN ON PORTALS

There has been an uptick to over 20% of the number of properties now being offered for sale, which are ‘no upward chain’. This may be a mix of landlord’s looking to sell stock and upgrade or get out of the market, but it also may mean that with high sale prices being achieved, a new sector of seller is coming to market. Those who will take a buyer then look to rent and but at a later date.

 

If you have a view – please let us all know by emailing me at editor@stagingsite.estateagentnetworking.co.uk – Andrew Stanton Executive Editor – moving property and proptech forward.

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate. Want to contact me directly regarding one of my articles or maybe you'd like a chat about future articles? Email me via editor@stagingsite.estateagentnetworking.co.uk

You May Also Enjoy

Breaking News

Breaking Property News – 28/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   tlyfe the tenant App gets huge marketing boost from national team tour from the Openbrix team As many will know tlyfe, powered by OpenBrix, is the UK’s most innovative tenant lifecycle app, taking the stress out of the move in process and helping to…
Read More
Breaking News

Over Four Out Of Five Tenants Unaware Of The Renters Reform Bill

OVER four out of five tenants remain unaware of the Renters (Reform) Bill and its contents, according to new research. The data comes from a representative survey of over 2,000 private renters conducted by the TDS Charitable Foundation, which works to advance education about housing rights and obligations in the private rented sector. The Bill…
Read More
Estate Agent Talk

What is Property Damage in a Personal Injury Case?

Property damage refers to any damage that affects things instead of a person. This might include damage to your car, house, etc. As such, it is not regarded as a personal injury case. However, when an individual is injured when the accident occurs, the affected person can file a personal injury claim. A typical example…
Read More
Love or Hate Rightmove
Breaking News

Rightmove comment on new 99% first-time buyer mortgage product

Matt Smith, Rightmove’s mortgage expert said: “It’s encouraging to see lenders continuing to try to innovate in the mortgage market, even after the government abandoned its own plans to encourage lower deposit mortgages in the Spring Budget. This new product has the potential to help some first-time buyers who fit the affordability criteria, but are struggling…
Read More
Breaking News

Breaking Property News – 27/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Coadjute ahead of the game as they are already licensed to provide digital TA6 Forms to property stakeholders This week, the Law Society announced its TA6 Form will now include Material Information as per the the National Trading Standards Estate and Letting Agency Team…
Read More
Breaking News

Breaking Property News – 26/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Sharing Success: The Guild Conference and Awards celebrate Member achievements The QEII Centre in Westminster, London, was abuzz with excitement on Friday, 22 March 2024, as The Guild of Property Professionals hosted its highly anticipated annual Guild Conference and Awards. Under the theme ‘Sharing…
Read More