BLOG: ‘Why agents must help landlords buy more properties’

MyPropTech Co-Founder Ashley Osborne says that for most agents, the surest way to increase revenue streams will be for their existing landlords to increase their portfolios.

Ashley Osborne, My PropTech

The property market is broken. Inflation is at a 40-year high, mortgage rates are up by their fastest rate in history, there is a cost-of-living crisis and housing has never been so unaffordable.

At the same time industry bodies are warning that the supply of new housing could drop to 80-year lows, putting upward pressure on prices and rents.

CHRONIC

It’s no secret that chronic issues in the housing market have created a blame game.

Developers blame government for bureaucracy and lack of clarity; governments blame developers for land banking and profiteering. First-time buyers blame investors for pricing them out of the market and investors say punitive taxation rules mean they must keep pushing rents.

For estate agents it doesn’t matter who’s at fault. The reality will be a falling number of transactions. Estate agents will be far more reliant on income provided from letting and management services.

But for the average property manager winning a new instruction from a competitor is next to impossible.

For most agents, the surest way to increase revenue streams will be for their existing landlords to buy more property. But how can agents do that?

proptech

Our proptech platform is designed to help landlords and their agents better understand their existing portfolio and identify unrealised value, providing landlords with an instant understanding of their financial performance including the net return of a property or portfolio after tax.

It identifies properties which are underperforming, highlights where costs can be managed and crucially, highlights equity available for re-investment.

It allows estate agents and property managers to take a more proactive role with their clients.

By helping landlords identify where equity can be released to buy again and take advantage of favourable market conditions, agents will increase their ‘book’ of property under management.

RE-INVEST

Or platform also makes it easier and cheaper for landlords to re-invest equity successfully through a suite of investment tools such as live, independent research – which allows agents and investors to access independent real-time market data.

Property analysers also enable members to determine whether an investment makes sense while our proprietary algorithm aggregates investors creating an economy of scale which they simply cannot create alone.

Aside from a few ‘big names’, most PropTech companies fall by the wayside because they try to solve problems that don’t exist or have too niche a focus.

We have a collaborative approach.  By offering discounted subscriptions that agents can pass on to their clients and attractive referral fees when their clients buy property we create a win-win scenario for property agents and their clients.

Ashley Osborne is Chief Executive and Co-Founder of MyPropTech.


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