Agents could risk falling behind without a high-quality customer experience due to upcoming change

Letting Agents looking to secure new business are facing fresh challenges, with legislative and economic changes on the way. These changes are set to cause a shift in the market, potentially prompting some landlords to exit, which would increase competition among agents for new business. On the other hand, some landlords may seize the opportunity to expand their portfolios, creating new opportunities for agents who provide an outstanding customer experience. 

Legislative and economic updates

One major change on the horizon is the Renters’ Rights Bill, which recently had its first reading in Parliament and could become law by next spring. Key proposals include: 

• The abolition of Section 21 ‘no fault’ evictions 

• The removal of fixed-term tenancies 

• A new mandatory Ombudsman for landlords 

Economically, landlords are also facing financial challenges, including high mortgage rates (despite recent reductions) and the impact of a capital gains tax cut, introduced earlier this year. 

Despite these challenges, a Paragon Bank reportBank report found that 37% of landlords are planning to grow their portfolios in 2024, demonstrating that opportunities are still there for Letting Agents ready to adapt. 

iamproperty’s viewpoint

iamproperty is encouraging Letting Agents to embrace digitisation to enhance the customer experience and navigate market fluctuations more effectively. 

Our Co-Founder Ben Ridgway said: 

“Changes can bring challenges as well as opportunities. The types of landlords who can withstand these sorts of pressures often have larger portfolios and they will be looking for an Estate Agent partner that can help them manage multiple properties with ease. Agents offering an enhanced customer experience, including a CRM that handles appointments, emphasises responsive communications and addresses maintenance issues, will support Letting Agents to thrive as expectations change. 

With the recent news that some CRM options are leaving the market, agents may now have a false belief that CRM isn’t worth investing in. We know first hand this is not the case, and it has helped many agents to offer an enhanced customer experience and win more business as a result.” 

A Lettings Agent perspective

Beth Wilson, Director of Turner Scott Ltd, shares how iamproperty CRM has accelerated the success of their business. 

“iamproperty CRM makes a big difference to our business and plays a key role in ensuring that everything runs smoothly, nothing is missed, and we are able to provide a reliable and professional service to our customers. 

“The automations within iamproperty CRM are priceless. They make our firm stand out as far as communication and professionalism goes, as things can easily be forgotten when you are spinning lots of plates, so the automation helps us to ensure this can be avoided.  

“In addition, to help with the influx in property enquiries as a result of low stock, CRM can help with setting up mass mailing and pre-qualifying leads so agents can spend time focusing on proceedable applicants.  

Another key benefit for me is that everything is in one place and the CRM is accessible from wherever we are.”  

iamproperty CRM streamlines the Sales and Lettings process by speeding up sales progression, matching properties with clients, and customising reports. It enables agents to manage their business in a way that works best for them, delivering a personalised service that delights clients.  

Learn more about iamproperty CRM here.