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Everyone agrees that proptech is here to stay. What’s less unanimous is which solutions are right for individual agents and the way they conduct their business.
The proliferation of proptech can make life confusing for buyers, sellers and agents. Some believe certain solutions could create lazy agents who rely too heavily on the technology to do the job for them or even replace them to some degree. That is a valid concern and, in certain circumstances, could be the case.
It all depends on how the proptech is designed and what problems it seeks to solve. If the sales process is radically changed or control is taken from the agent, then there’s no doubt the tech could take over the process, replacing a core activity of the agent and, inevitably, creating a greater reliance on proptech rather than the people side of property.
And, let’s face it, property is all about people.
What if advances in proptech could be leveraged by agents to actually enhance an existing process rather than replace it?
Agents have a tough job trying to manage the expectations of buyers and sellers and must employ all their skills as negotiators to get the two parties to meet somewhere in the middle.
One of the biggest pain points in the buying and selling journey is this offer process. Research shows that stress peaks where the three paths converge between buyer, agent and vendor. Agents receive offers from potential buyers in many ways – in person, via phone, email, SMS, social media and more. It’s very fragmented, which can create confusion and contribute to stress.
A new solution designed to solve this problem and enhance the offer flow is Propps’ white-labelled ‘Make An Offer’ innovation, a digital management platform that streamlines and standardises the offer process so that agents have all the offers not only in one place but in a consistent format.
White-labelled means it adopts the agent’s branding. There’s no disconnect for customers. It integrates seamlessly into an agent’s website and provides a consistent gateway for buyers to make an offer when directed there by the agent.
This not only allows buyers to make either binding or non-binding offers 24/7, in a non-stressful environment that suits them, it also means agents do not have to physically collate the offers. Agents can stick to what they do best and what they are experienced in, which is managing those offers, negotiating with all parties and achieving the best possible price for their clients, rather than having to focus on the paperwork.
The ‘Make An Offer’ function is a simple proptech solution which generates a subtle ease in workflow whilst improving the relevance and stickiness of an agent’s website by making it a one-stop shop. It doesn’t reinvent the real estate wheel, it makes it spin more smoothly.
Embracing technology to verify buyer ID and simplify offer management via a user-friendly digital dashboard helps agents become more efficient in the way they deal with offers, providing them with an increased capacity to handle more offers on more properties.
Vendors also benefit because agents can supply them with all offers coming through, like-for-like, making it easier for the agent and vendor to compare and make clear decisions. Buyers benefit because they can put their best foot forward whenever they like and be guided through the offer process.
The Propps ‘Make An Offer’ function is a prime example of proptech not seeking to fundamentally change the process but rather, to amplify the value delivered by an agent both through the buyer qualification stage as well as the offer and negotiation, through to presenting offers to vendors.
It’s also a prime example of proptech simplifying rather than complicating the experience for everyone in the property journey, including buyer, vendor and agent.
So, could this technology promote lazy agents? Increased efficiency does not equal laziness.
Instead of encouraging laziness it facilitates sharpened focus. Incorporated properly into the property ecosystem, the right proptech solutions allow agents to work smarter rather than harder, elevating the role agents play at the points in the process where the value-add they provide is most influential.
To explore how Propps can compliment your Agency, click here.
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