Breaking Property News – 16/10/2023
Daily bite-sized proptech and property news in partnership with Proptech-X.
Habito hits monthly profitability for the first time
PRESS RELEASE LONDON, 16 OCTOBER 2023: Digital mortgage broker Habito has achieved a massive milestone and recorded its first ever monthly profit in September.
In 2022 average monthly losses were £897,000, and for the first five months of 2023 it was £385,000. However since June there has been a relentless drive in controlling costs, whilst the business has benefited from some strong performing revenue months over the summer.
Annualised Losses are expected to be circa £2m for 2023, this is down significantly from £10.7m in 2022. Habito is on track to reach full-year profitability by the end of 2024. Habito has helped over 26,000 people understand their mortgage needs in 2023 bringing its total to close to 550,000 since launching in 2016.
“Since investing and joining Habito as CEO in May I have been blown away by the dedication and hardwork of the team. The passion for the brand and delivering stellar service for our customers is plain to see, this is ratified by our excellent 5 star Google and Trustpilot reviews. Our customers are at the heart of all we do, and we are on a mission to improve their financial well being and transform their relationship with property and mortgages,” Ying Tan, CEO of Habito said.
“I believe we are the stand-out player in mortgages and tech, and we’re firing on all cylinders to achieve our bold and big ambitions. It is a long road ahead and the market conditions are challenging but we are very much on the right trajectory.” Tan added.
Unlike many fintech firms and digital rivals, since Tans arrival Habito has firmly focused on a fast track route to profits and sustainable growth rather than expansive and loss-making growth plans.
13,000 reasons to use a Guild Agent
The Guild of Property Professionals has reached a remarkable milestone, amassing a whopping 13,000 ESTAS reviews with an impressive average customer service rating of 96.6%. This achievement underscores the network’s unwavering commitment to excellence.
Home movers who’ve engaged the services of one of the Guild agent offices, making use of The ESTAS Review platform to navigate their property transactions, have generated 13,000 verified reviews, painting a vivid picture of the network’s dedication to unparalleled customer satisfaction.
The ESTAS customer review and awards platform, the esteemed review partner of The Guild of Property Professionals, is exclusively tailored for industry professionals in the property sector. It places a spotlight on agents, conveyancers, and mortgage brokers who consistently deliver exceptional service. The Guild of Property Professionals, based on these customer reviews, clinched the prestigious title of ESTAS Agency Network of the Year both in 2021 and 2022, could these results point to another win at this year’s awards?
Iain McKenzie, CEO of The Guild of Property Professionals, expressed pride in the multitude of glowing reviews received from the clients they’ve served. “These reviews not only underscore the calibre of agents within the network but also affirm their unwavering dedication to providing top-notch customer service. For The Guild, ESTAS has played an integral role in their mission to set the gold standard in the industry for integrity and professionalism.”
He adds, “Our goal is for customers to recognise our Membership as the epitome of property professionals. When they choose a Guild agent, they can rest assured of receiving exceptional customer service. Our partnership with ESTAS reflects our steadfast commitment to continuously enhancing the customer journey. The ESTAS review and awards platform empowers agents to build consumer trust.”
Ben Marley, the Commercial Director of the ESTAS Group, emphasised the importance of enabling agents who offer exceptional service to showcase their prowess across major marketing channels. He stressed the need for prospective customers to easily identify and select property professionals who come highly recommended for their outstanding customer service and willingness to go the extra mile. “For years, ESTAS has been on a mission to assist excellent agents in showcasing their service quality, driven by the firsthand experience of the value of impartial information from real customers when selecting an agent. We are delighted in The Guild network’s robust utilisation of the platform, as the abundance of reviews at their disposal significantly simplifies the public’s decision-making process when choosing the right agent,” he comments.
In conclusion, The Guild of Property Professionals’ latest achievement in amassing 13,000 ESTAS reviews with a 96.6% customer service rating is a testament to their relentless pursuit of excellence and commitment to raising industry standards.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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