Both lettings and estate agents have been through the proverbial wringer in recent months, with the long road towards Brexit and the implementation of the Tenant Fee Ban consistently creating uncertainty across the industry.
Despite these challenges, there are early signs of recovery in sight. Recent data from Halifax shows that house prices have continued to rise. Modest as this growth is (1.8% in the past year, and 0.3% in August), Halifax assert that the sales market has proved itself to be resilient in the face of much political and economic uncertainty.
Lettings businesses are already working closely with landlords to fairly and sustainably offset the 10-20% revenue gap lost from tenant fees. From service add-ons to cost-cutting and efficiency measures, agents have shown great ingenuity in rising to the challenge posed by the fee ban.
Arguably, estate agents are still very much exposed to risk with the the sales market slowing down, but for once there are more diverse options for the selling market’s sustainability other than just the age-old advice… time to shut up shop and go online.
As agents know well, this isn’t the first time the housing industry has seen itself on an uneven axis. With the recession and the financial crash in 2007 – agents saw a very similar scenario, with lettings arms working at an unprecedented pace to ensure their own sustainability and help support estate arms through the tough conditions. But, the market embraced the chance to evolve and what emerged from the other side was an entirely new manifestation of the industry – diverse in its nature and signalling the birth of PropTech and hybrid organisational models.
Ian Crowther, Commercial Director of Tili comments:
“This echoes exactly what we’re hearing from our property industry partners. Agents are making time to implement regulatory changes and refine their processes, but equally they’re looking for meaningful change and innovation that’ll see them thrive. Our partners want to hear the success stories, ‘who’s doing what?’ and ‘how will this help us to offset these challenges?’, where are the opportunities and how do we grab them and run with them in this challenging new climate?”
“We’re passionate about helping agents find these answers, which is why we’re delighted to return as the headline sponsor of this year’s Negotiator Conference & Expo.”
Scott Holmes, Marketing & Communications Manager of Tili comments:
“The Negotiator Conference & Expo answers the SOS call from agents perfectly, what we saw at last year’s event was an offering that delivered a holistic set of answers that benefit both multi-market groups as well as lettings only/ estate only businesses.”
“By delivering the key insight needed for successful decision-making in a changing environment as well as show-casing a curated range of relevant suppliers – agents will be hard-pressed to find another event that’ll offer this level of opportunity to help them recoup revenue, diversify their brand and sustain their position in the market.”
We’re delighted to return as the headline sponsor to this year’s Negotiator Conference & Expo, as well as lending our support to the Negotiator Awards as a gold level sponsor. We’re committed to helping our partners and potential partners find the answers needed to evolve to meet the demands of a challenging market environment, not to mention recognising the successes of those who thrive and innovate each year. Grab your tickets for these great events and we’ll see you there!