Advice/Tips for Letting Agents and Landlords on how best to navigate the next few months as restrictions ease and tennant priorities change, with a nod to using property tech to ease the admin.
Forecasting ahead using data; Use your own/industry data to gain an understanding of the current lettings market, as restrictions continue to be eased. More tenant movement, increased property prices and a widespread transition to working from home requires new strategic thinking to remain competitive, catering for a market shaped heavily by the last 18 months.
Improve efficiency using technology: With a busier market comes more time- consuming admin. The pandemic has paved the way for a new era of tech-led solutions in the property sector, such as virtual viewings, move assistants and refined digital referencing, resulting in more effective processes that have elevated the sector and pulled it into the 21st century. Make the most of these new services to make things easier for you and your clients.
Communicate effectively with everyone involved: When the market becomes busier, it’s easy to let the small things slide. But maintaining clear and honest communication between agents, landlords and tenants will make things run more smoothly, whilst maintaining a level of confidence in the service you’re providing. Agents are judged on their performance from beginning to end of the renting process, and it doesn’t always have to be a stressful one.
Utilise tools to develop new revenue streams: Property technology not only allows for the previously mundane and time consuming due diligence to become effort free, but it’s also an opportunity to find new revenue streams. Integrated service packages and Home Move Assistants are a new way for agents and landlords to earn a commission when renting out properties, whilst improving the process for tenants. Do some research into how you could be benefitting from these types of new opportunities.
Advocate for change: Properties are letting and selling faster than ever before, and this won't change for a while. We need to see some legislation changes to make it more attractive for buy-to-let landlords to begin investing again, as without them there isn't a market. Make sure to speak up about what’s needed for the industry, and lead by example by sharing and endorsing messages and campaigns you support across your social media and online content.
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