Rightmove moves deeper into the world of agent lettings
Firms using its service can now receive enhanced leads about a tenant’s circumstances, manage enquiries and order a fully managed reference in one-click.
Rightmove has launched the first rollout phase of its fully integrated end-to-end lettings solution for agents which links each stage of the rental journey from leads to keys.
Agents can now receive leads enhanced with additional information about a tenant’s circumstances, manage enquiries and order a fully managed reference in one-click. They will also be able to progress a tenancy all the way through to the tenant collecting the keys in one place on Rightmove Plus.
APPLICANTS
Applicants are asked when they would like to move into the property, who they are planning to move in with and their desired length of tenancy amongst other qualifying questions.
Once a tenant is chosen for the property agents can progress each aspect of the tenancy without leaving the platform. Agents can receive holding deposits, sign tenancy agreements, receive move-in monies whilst remaining compliant with the latest legislation all within Rightmove Plus.
Rachel Horton, Group Lettings Director at Nottinghamshire-based Richard Watkinson, says: “Rightmove’s solution does everything we need it to do.
I’ve been particularly impressed with the service levels from the tenant referencing team – the team are proactive and capable of dealing with any unusual circumstances, and we also have a direct contact to talk to if we need to.”
And Ria Laitmer, Manager at Clarkes Properties in Dorset, adds: “Being able to send compliance documents in one go and having an audit trail to look back on makes everything so much easier.
The process of referencing a tenant for our landlords has also never been easier with direct contact from the team to applicants.”
PORTFOLIOS
Christian Balshen, Rightmove’s Head of Lettings, says: “Agents have talked to us about how they can use this additional time to renew existing tenancies, speak to their landlords about things like energy performance regulation and in some cases help their existing landlords to expand their portfolios.
“We’re in a position to be able to help agents save time and improve efficiencies at each stage of the rental process from leads to moving a tenant into the property, whilst helping to ensure both themselves and their landlords remain compliant with fast-changing legislation.”
Back in 2021 when LSL had thoughts of acquiring Countrywide PLC (they have since done a 180 and gone down a franchise route for LSL) I was quoted in the Daily Telegraph … ‘‘Stanton says that Countrywide’s failure to embrace the so-called ‘proptech’ revolution has left it a “financially wounded dinosaur” and that any merger with LSL is really a hostile takeover, with LSL setting the terms.’
I also was quoted as saying, ‘‘For now, the majority of property sales in the UK involve an agent. However, analyst Andrew Stanton warns: “Estate agencies of the future will be based on captured data and analytics which provide a clear narrative of what the customer likes and wants.”
He adds: “A personalised, tech-based service – with connection across digital platforms and smart phones – means there will be less need for hundreds of branches”.
Well post-Covid and with the push from the property consumer things have spun on, and due to the intransigence of agents as an industry to digitally transform their practices, we at Proptech-PR a consultancy for Proptech founders have seen the swing to founders who have valuable Saas services looking to the big three as a distributor.
The existential problem for portals is, they are a digital marketing play, if they start to do the services of agents, will agents not think that is their revenue being taken away. In my mind and I spoke about it on a recent UKPA webinar, there will ultimately be just one platform where all things property are done, I think probably owned by banks, just as in the 1980’s they bought agencies to get into the mortgage market nexus.
I know I bang on about it, but after six years of having over 120 Proptech clients, meeting 827 founders, advising a large number of c-suites, raising 2.1M of funding and selling 118M of companies, whilst agents may feel it is business as usual there is a tsuanami of digital change out there in all industries, it is a ‘digital eats dinosaur world’ and agents need to decide which side of the line they are on.