Why Estate Agents should embrace PropTech

May 30, 2017

It’s an exciting time for the property industry right now. Every day, PropTech takes another step forward in revolutionising the property industry. More start-ups are established, more deals are made and with innovative solutions always in the pipeline, we’re entering an era where PropTech will be the face of property. PropTech is no longer on the verge of a breakout, it’s here and it’s in full swing.

But despite the easy and efficient use of PropTech, there remains a reluctance to embrace technology in the property industry as a whole. Understandably so, anyone who has built a successful agency on the back of using traditional methods will be very wary of change, but there’s a big problem with that. The world has moved on and time waits for no one, the need to accept and embrace PropTech has never been more apparent.

Here’s why estate agents should embrace the change:

Clients, agents and landlords

PropTech products have revolutionised the way the property industry works. The rise of Rightmove and Zoopla have changed the way properties are bought with now a staggering 80% of all home buyers searching online, a real indicator of how times have changed and why we need to embrace change and adapt to meet clients requirements.

Transactions such as buying, renting or managing a property can cause friction between clients, agents and landlords. This is where PropTech comes to the fore, with software like Fixflo and Goodlord playing a prominent role in soothing frayed nerves. The latter, a cloud-based platform aiming to improve efficiency for agents by processing contracts, credit references and payments through one app, reducing the time it normally takes to rent a property from a couple weeks to just a couple days. The former is a smart, web-based software for managed rental properties that enables tenants to report their maintenance issues online, as well as assisting landlords and property managers in delivering repairs more quickly and efficiently.

It’s all about increasing efficiency and making the most of the technology at our disposal.

PropTech products everywhere

There are vast array of technologies that agents can now use. Ranging from presentation technologies for 3D walkthroughs and 3D floorplans, to marketing strategies like SEO (Search Engine Optimisation), and social media marketing, the reality is that agents need to keep their mind open to new methods. Virtual reality is now in high demand and the expectation is that it will go on to play a prominent role in the property industry. The ability to view properties anywhere at anytime, as if you were actually there is certainly something that excites people. Marketing strategies like SEO offer agents the chance to showcase their properties to a global audience, by increasing their Website’s visibility to Search Engines. This “tech” is growing more prominent and isn’t going anywhere, so why not jump on the bandwagon?

Here to help rather than hinder

Has PropTech disrupted the property market? Yes. Does “disrupt” mean it has impacted negatively? No. Rather than having a negative impact, it’s been a breath of fresh air. PropTech is allowing us to do things in a better and more cohesive way, which is something worth looking at.

Utilising technology to its full potential will help you stand out from other agents and with so many more possibilities in the PropTech arena, the future is certainly bright. Embracing it will not only help your agency grow but it will improve efficiency. If you want different results, you have to try different approaches and if you are unsure on how to do that, feel free to contact us. We will be more than happy to nudge you in the right direction.

The digital age is in full force, so let’s take advantage of it!

Blog by: Ola Bello olabello@hotmail.co.uk

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

First-Time Buyers Prioritising ‘Forever Homes’

A third of first-time buyer purchases are semi-detached properties, as young people turn to ‘forever homes’   Barclays mortgage data shows semi-detached properties rose in popularity in August, accounting for 33.5 per cent of first-time buyer purchases Four in 10 Barclays first-time buyer customers chose mortgages allowing them to complete their repayments over a 30+…
Read More →
Estate Agent Talk

Closing the gap on client relationships and recommendations

New research from iamproperty has highlighted the growing disconnect between what buyers and sellers want from their agent and what they experience, which could be killing recommendations from happy clients. iamproperty’s quarterly consumer survey revealed that only a third of respondents (32%)¹ would recommend their agent following their experience. With many agents relying on recommendations…
Read More →
Estate Agent Talk

Northern Ireland to expect over 25,000 new home movers

Belfast-based estate agency John Minnis has revealed that Northern Ireland is to welcome an estimated 25,000- 30,000 new arrivals from the UK and Europe over the next five years, as migration to the region reaches its highest levels in more than a decade. Recent figures show that 11,700 people relocated from other parts of the…
Read More →
Breaking News

Red tape and rising costs stifling new-build availability across the capital

The latest analysis from London estate agent, Benham and Reeves, has revealed how protracted building timelines are preventing the capital’s housebuilders from delivering the level of new-build housing stock required to meet demand, with new homes currently accounting for just 7.5% of all properties listed for sale across London. Benham and Reeves analysed the latest…
Read More →
Estate Agent Talk

UK’s new wave of ‘second cities’ offers strongest yield growth for property investors

The latest research from West One Loans has found that whilst investors may continue to favour the nation’s key cities such as London, Birmingham, and Manchester, a new wave of ‘second cities’ is delivering the strongest growth in rental yields. These emerging markets are offering investors the chance to achieve attractive returns, driven by rising…
Read More →
Estate Agent Talk

Decline in change of use further constricting housing supply

Jonathan Samuels, CEO of Octane Capital, believes that a decline in conversion projects could ultimately prevent the Government from hitting its ambitious housing delivery targets, as the firm’s latest analysis has revealed that the number of homes created through change of use has fallen sharply in the last five years. Octane Capital analysed official Government…
Read More →