If you’re an agent that likes to keep up with the news or often heads to industry events, then it’s likely you’ll have noticed an increased use of the word ‘proptech’.
PropTech, or technology for property, is often described as technology and property coming together to propel the industry forward. This seems a bit daunting but with the right PropTech tool, you wont know how you ever did without it!
Some so-called PropTech products have revolutionized the way the property industry works. Many people would argue that the best example of successful proptech are the two biggest portals in the UK & Ireland, Daft (ROI) and Rightmove (UK).
Most of us would agree that the majority of property buyers now begin their search online, via these websites. Their existence and subsequent success has therefore changed the way people buy homes in the UK and the websites have now developed into very powerful consumer tools.
But what about estate and letting agents? Done properly, property software can help estate and letting agents to get things done easier, faster and more accurately.
If you’ve never heard of PropTech, you’re probably starting to notice that managing your business currently is just with email chains, file attachments, manual follow-up, paper documents, multiple point of contacts and this just isn’t good enough anymore and your customers & tenants are demanding a more innovative and streamlined service.
Here at Property Button, for example, our simple to use cloud-based system allows agents to seamlessly run every aspect of a property’s rental cycle from one place.
By logging into our online portal, letting agents can simply input a new tenant / property details and a lease will automatically be generated for electronic signature. You can send this email for signature and your customized dashboard will keep track of it’s progress (sent, delivered, signed, received). Gone are the days of losing time on outstanding signatures for property documents and wasting valuable rental income for your landlords.
On the same note, once a lease and Tenant Consent Form has been electronically signed, those new tenants can log into their Property Button account to set up their utilities and media at the new property, all as part of the digital process. This removes all of the hassle of moving tenants in and out by opening / closing their utility accounts, switching from landlord to tenant (and vice versa) and ensures tenants and landlords receive the best possible (digital!) experience.
This digitisation and automation of business processes around move in and move out results in less costs, less errors, a digital audit trail, new revenue, less landlord churn for the agency and a streamlined experience for all.
Five years ago, this technology didn’t even exist. Now, it has become the norm after successfully identifying a genuine problem and offering a genuine solution. The use of technology in our industry is everywhere we look – some of the biggest estate agents are now adapting their offerings to provide a streamlined hybrid service.
Estate and letting agent software is also a great example of PropTech. So, next time you hear the word PropTech, you may still be skeptical but you must remember that PropTech is all around us and partnering with the right firms will help you to develop and streamline your business processes.
Property Button provides cloud-based property software for estate and letting agents. To find out we can help you to manage your team and workload effortlessly online, get in touch on: 0161 385 2034 (UK) or 01 969 6091 (ROI).