The estate agency industry has historically been one that relies on personal relationships and in-person interactions to buy and sell properties. However, with the rise of digital technologies, businesses are increasingly turning to digital tools to improve their efficiency and profitability.
Digital offer systems such as those provided by companies like beagel.io, a Microsoft supported startup, are becoming an increasingly important tool for estate agencies. Beagel.io is an open API stack technology that powers digital real estate offers, connecting buyers, sellers, agents, and their teams live 24/7. As a result, it can streamline the offer process and provide a central platform for communication and documentation, which can help businesses reduce the time and resources required to manage transactions and improve their profitability.
Healy Hynes, CEO of beagel.io, says "Digital offers are the future of estate agency efficiency and profitability. By automating the offer process and providing a central platform for communication and documentation, businesses can reduce the time and resources required to manage transactions, which can translate into improved profitability."
In addition to improving profitability, digital tools also improve efficiency. A study by Deloitte found that companies that adopt digital tools such as automation, data analytics, and cloud computing can improve their productivity by up to 33%.
By providing customers with more information and access to make offer online, businesses can reduce the time and resources required to sell properties, freeing up staff time for other tasks like filling deal pipelines.
According to the NAEA, the average UK estate agency branch employs between 2 and 5 agents, and Statista reports that over 1.2 million residential properties were sold in 2020. Given the competitive nature of the industry commissions per branch can vary widely, however, assuming an average of £222,775, and a productivity improvement of 33% as suggested by Deloitte's study, a UK estate agency could expect to see an increase in turnover of up to £73,400 per year.
Digital tools such as beagel.io can also help smaller estate agencies compete against larger, more resource-rich competitors. By providing a streamlined, efficient platform for managing transactions, these tools can help businesses offer a higher level of service to customers, which can translate into increased customer satisfaction and retention.
Digital offers such as those provided by beagel.io are becoming an increasingly important tool for UK estate agencies looking to improve efficiency and profitability. By automating the offer process and providing a central platform for communication and documentation, businesses can reduce the time and resources required to manage transactions and improve their bottom line. As Healy Hynes notes, "Digital offers are the future of estate agency efficiency and profitability”
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