Self-employed and downsized agents can thrive with all-in-one technology

The rising number of agents going it alone and firms which have downsized due to the pandemic can operate just as effectively as large, established brands by tapping into a range of automation solutions, according to software provider Rex.

With agents battling rising workloads due to the stamp duty holiday and adapting to the new normal, choosing to automate the right processes can not only save time but take care of monotonous and mindless administrative tasks.

A reduction in administrative work can improve staff morale and provide agents with more time to focus on the personal aspects of estate agency, which remain key to the provision of great customer service.

Rex adds that for agents just starting out or existing firms looking to cut costs, slick tech processes can help them to save money on recruitment and earn more commission through higher transaction numbers.

Helping downsizing agencies to manage workload

Over the last year, many agencies have reduced headcounts, paused expansion plans, closed branches or taken advantage of the government’s furlough scheme.

Increased consolidation and less emphasis on expansion from agents has coincided with a very busy time for the market due to the impact of the stamp duty holiday and more people looking to move home as a result of the pandemic.

“If an agency has downsized, it can certainly use automation to augment its staff and continue operating with a lower headcount,” says Anton Babkov, CEO of Rex.

For example, automating the creation of lists for follow-up activities can help agents to build long-term relationships with their clients by reminding them when to reach out and providing a template of exactly what to send.

For self-employed agents or smaller firms with a reduced headcount, manually nurturing a large database to a high and consistent level is unrealistic.

“We don’t believe in automation for the sake of automation. It is possible to over-automate, and remove the potential for important agent-applicant and agent-vendor exchanges,” adds Babkov.

He says a prime example of this is removing agents from the viewing booking process, which eliminates the potential to discuss a buyer’s property goals and needs – an extremely valuable part of the process.

Moreover, removing the ability for agents to personally provide vendor feedback is another example of over-automation which dilutes the role of an agent and reduces the ability to maintain a productive relationship with clients.

Self-employed agents can get up and running with the right tech

There has also been a rise in the number of agents pursuing the self-employed model in recent years. This trend has been expedited by the pandemic as the work from home boom continues and people look for increased professional flexibility alongside a greater work/life balance.

“Going out on your own an attractive option to many established agents, as well as those entering the property sector for the first time,” Babkov continues.

“However, the self-employed model comes with a range of challenges, including startup costs, getting up and running quickly and mirroring the infrastructure of a high street agency when working from home.”

He says that using the best CRM with an emphasis on automation can help startup agencies to hit the ground running and limit the need for support staff in the early stages.

Another example of effective automation for startup and established agencies alike is using a matching engine to provide buyers with a list of properties that match their interests, as well as notifying them when a new property which meets their specific requirements goes live.

Meanwhile, using a CRM which has integrations with platforms such as DocuSign and HelloSign can reduce paperwork for agents and keep transactions moving faster.

“One of the main priorities for self-employed agents and those just starting out will be keeping as much money in their back pocket as possible,” adds Babkov.

“Using a CRM which facilitates effective automation can keep staff costs down while agents build their portfolio of clients and book of properties.”

“With more time to talk to people and build relationships, as well as impressing consumers with an efficient, technology-led service, these agents can put themselves in the best position to gain market share from competitors,” he concludes.