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Human or Robot?

There’s been an interesting sequence of events happening over the last few weeks. It’s even more interesting when you discover what we have been doing since 2009. #1 – I read a hugely interesting article by Peter Knight of the Property Academy, which talked about getting customer service right and then implementing technology to enhance it. Putting the humans first and then enhancing their performance with technology. #2 – David Pollock recently talked about the difficulties in recruiting the right candidate for agency. His advice was to “implement processes that compensate for the lack of qualified talent” available. #3 – Ed Mead, published an article quoting some data that we had previously released based on research by Oxford University, that quoted an article in the Sunday Times by Nicholas Hellen. This listed 226 occupations that were ripe for automation. Third in that list, with a 97.29% chance of automation, was …

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Estate Agent Tips

Know your client’s credit score

Whether you’re a letting agent, estate agent or landlord, getting to know your client’s credit score is becoming more and more important. It’s vital you apply the following knowledge to conduct a successful credit check, so you can make an informative decision about whether to take on the tenant or (in some cases) work with the potential buyer. We’ve provided a simple Q and A for your guidance, alongside a useful visual guide published by our contacts at Sainsbury’s Bank. What defines your tenant’s credit score? There are a number of factors that define your tenant’s credit score, mainly being associated with their credit history. A record of late or missed payments or ongoing debt will portray a lower/negative score while a positive finance record will score higher/positive. How do I calculate a credit score? As visualised in Sainsbury’s Bank’s guide below, credit scores are calculated between two types of …

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Estate Agent Tips

Attracting those first time buyers

There’s many ways to sell to first time buyers in today’s property market. The most powerful way to sell is by implementing social media as your marketing tool. Many people in the 18 to 30 bracket are active on social media, don’t be afraid to stand out and utilise every platform to attract them. Think about sharing useful resources first time buyers may need, trending news in the local community or showing your human side by interacting with them on a personal basis, whilst becoming their virtual friend. By doing this, many first time buyers will begin to trust you and possibly consider buying a house for the first time. As well as this, consider marketing each individual property and utilise their selling points. Use photography to advertise how a first time buyer may use the property to their advantage. For example, don’t be afraid to sell the living room …

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Prop Tech

When’s the best time to innovate?

As we continue into recovery it’s useful to refer to the economic clock which describes four recovery steps. So far we’ve been moving through ‘hesitant and uneven’ recovery where we typically experience one step back for every two forward. As a result, most of us have been noticing the good news/bad news mix in the market. Taking the view that we will ultimately move through recovery, we need to prepare well if we’re to maximise the potential of the next boom. New products and services will be vital, which means innovation must become a priority. But when is the best time to innovate? Do you innovate at the start of a recession? Halfway through? Or at the end? Should you innovate halfway through recovery or at the top of the market? When to innovate? We believe the absolute best time to innovate is right now. At the end of any …

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Tenant Fee Ban

Explaining The Tenant Fee Ban

With the fee ban set to come in on the 1st June 2019, everything from the fees you charge to deposits is set to change. Below we’ve outlined some key things you need to know. Security Deposits These must be capped at 5 weeks rent where annual rent is below £50,000. Pet deposits are banned but increased rent can be charged provided this is advertised in the property advert that an increase in rent will apply should the tenant have pets. Pest control can come out of the security deposit but cannot be charged as an admin fee to tenants during the tenancy. Holding Deposits A deposit can only be withheld should the: Tenant pull out Fails Right To Rent Provides false or misleading statements (If the tenant actively lies about earnings or CCJs, this lie must be able to be proved via a tenant application with declaration.) The agreement …

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Property Marketing

Is Your Team Social?

Think how your team comes across on social media. Firstly, your Facebook page gives you the opportunity to showcase every staff member by adding them as team members. They’ll then appear in the “About” section of your page, giving your brand a personal touch. As well as this, get each staff member to contribute to your Facebook marketing on a daily basis by posting relevant information about your brand, the current property market or the local community. Facebook isn’t the only platform you can showcase your team, Instagram also allows you to show your human side. Think about creating individual Instagram accounts for your staff to post images and videos on. Encourage them to film LIVE videos when they’re about to view a property or take part in an activity related to your business. When it comes to thinking of new and innovative content, get all your team involved in …

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