A PropTech firm says agencies adopting livestream viewing could win more instructions and save thousands of pounds, all the while abiding by Covid-safe protocols.
Joel Smith of Gavl – a livestream platform which allows agents to stage interactive open house viewing events – says the savings come through not requiring expensive staff and business time for physical viewings.
“Recruitment can be an expensive process which doesn’t always pay-off. Livestream viewings significantly reduce agents’ workload which means business owners don’t have to expand their teams in an uncertain market if they don’t want to. The money saved can be spent on looking after existing staff, improving customer service and the associated costs of adapting to the new normal” he says.
The additional instructions can come from an agency promoting live-streaming as a USP to prospective customers.
Matt Nicol, managing director of three-branch agency Nicol & Co, says that on average his agency now agrees tenancies after 1.1 viewings, down from 14 before adopting livestream technology.
“Despite all that 2020 threw at us, we have some good moments to reflect on and finding Gavl is certainly one of them” says Nicol. “While our portfolio has grown, we haven’t needed to recruit because we’ve actually managed to cut the workload for the team.”
Joel Smith says day-to-day efficiency also shoots up as the time previously spent travelling to viewings – many of which were pointless – can now be used more effectively by agents to progress transactions and generate new business.
“The majority of agents will be much happier not to keep travelling to viewings over and over again so there are opportunities to improve team morale and productivity” adds Smith.
A further bonus in the current Coronavirus period is extra safety.
For prospective buyers and tenants, a livestream viewing means they don’t have to leave home and are not wasting their time travelling to a property that is not suitable for them.
“By organising just one livestream viewing appointment instead of 10 to 25 viewings, agents can allow all interested parties to view properties at the times which generally suit them most such as evenings and lunchtimes” Smith continues.
“This means they can view more properties and the chances of missing out on their desired property through not viewing it quickly enough are reduced as there is a level playing field for all applicants.”
He adds that instead of just one or two people attending a physical viewing, an applicant’s friends and family can attend a livestream event which can help them to make a decision.
For sellers and landlords, one of the main benefits is only having to open up their property for viewings once or twice rather than 10 to 20 times.
This post has originally been featured in Letting Agent Today.