Posts with tag: high street letting agent

30% Believe that Using High Street Letting Agent to Rent Property is Outdated

Published On: October 23, 2017 at 8:13 am

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Categories: Property News

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Over 30% (31%) of UK adults believe that using high street letting agents to rent a property is outdated and burdened by reams of paperwork, according to a study of 2,000 adults by virtual letting agency LetBritain.

30% Believe that Using High Street Letting Agent to Rent Property is Outdated

30% Believe that Using High Street Letting Agent to Rent Property is Outdated

The research revealed that 25% of adults prefer to use online-only services, such as Gumtree or Spareroom.com, to source and secure a rental property, with 32% of landlords and tenants not having the time to use services that require them to visit a physical premise within working hours.

And its not only the lettings sector that is frustrated by the archaic processes still being used by high street businesses.

Half of consumers (51%) say that they rely on online solutions for the vast majority of their products and services, while 45% favour online services over ones that require them to go to physical premises.

A high proportion of adults (29%) refuse to use a business if they have no online service altogether.

The research shows that Londoners are the most technologically demanding, with 62% opting for online solutions and a majority (51%) consciously avoiding businesses that do not offer online services.

Looking to the future, 57% of UK adults – that’s 29.3m people – believe that online or app-based competitors will replace businesses with no online presence in ten years’ time, by 2027.

The CEO of LetBritain, Fareed Nabir, comments: “Over the past decade, online solutions have drastically transformed the way we conduct business. Today’s research clearly shows that consumers not only expect but now demand that companies provide their services online. And, on that point, the rental market is clearly falling short, with too many high street real estate agents failing to embrace digital solutions, relying on cumbersome offline processes. For businesses in the rental market, the choice is simple – integrate and embrace online solutions, or run the risk of being outpaced by changing consumer demand.”

Are you putting digital processes in place to cater to online demand from tenants?

Will Online Letting Agents Destroy High Street Firms?

Published On: September 18, 2015 at 3:48 pm

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Categories: Landlord News

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Online letting agents may be on the rise, but do they operate much differently to high street firms and do they pose a threat to traditional services?

Industry expert Rayhan Rafiq Omar, of the Real Estate Pundit, says low-price online agents are “now the mainstay of DIY landlords – those who self-manage.”

He says that Upad and OpenRent are the largest in terms of listings on Rightmove and Zoopla.

However, he has uncovered many differences between agents, finding that some put most of their listings on Zoopla.

For example, he revealed that OpenRent has 1,062 listings on Zoopla but just 677 on Rightmove, and Purplebricks has 3,740 on Zoopla with only 277 on Rightmove.

Omar adds: “Online agents are filling Rightmove and Zoopla’s coffers and not truly differentiating.

“Why won’t any of these agents kill off or disrupt traditional agents? They aren’t adding value.”1

He has ranked online agents, with his figures updated on 14th September:

Position

Agent Listings on Rightmove

Listings on Zoopla

1 Upad 703 667
2 OpenRent 677 1,062
3 Urban.co.uk 357 837
4 Visum 311 222
5 Purplebricks 277 3,740
6 easyProperty 246 293
7 Rentify 166 366
8 HouseSimple 129 1,598
9 Makeurmove 126 127
10 My Online Estate Agent 116 0
11 The Online Letting Agents 101 0
12 Lettingaproperty.com 97 0
13 I Am The Agent 61 0
14 Gordon’s The Online Estate Agent 37 0
15 Online Agent UK 27 0
16 Igloo 21 0
17 Tepilo 17 0
18 House Network 15 0
19 LoveYourPostcode 8 0
20 Home Online UK 7 0
21 9yds 6 0
22 Your Online Letting Agents 3 0
23 FindAHomeOnline.co.uk 2 0
24 eMoov 1 0

1 http://www.realpundit.com/home/2014/who-is-the-best-online-letting-agent