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property inquiries
Nov 28 2023

How to manage an increasing number of property inquiries

A substantial surge in calls to leasing agents has led to staff spending more time than ever addressing phone inquiries. Agents are facing up to ten times the usual number of daily incoming calls in recent months according to Agent Rainmaker. However, these challenges can be alleviated through the adoption of technology-centric solutions.

Phones ringing incessantly:

This increase in phone calls is attributed to a shortage of available properties, with approximately 150,000 – and counting – private rental homes being sold annually, according to HM Revenue and Customs.

In 2019, an agent received an average of six inquiries per property. Now, according to Rightmove research, agents are fielding 20 calls from potential tenants for every single advertised home.

This has led prospective renters to feel stressed. Media reports indicate tenants having to bid over the asking price, relocate outside their preferred areas, or make compromises to secure a home.

A growing challenge for leasing agents:

Conversely, this surge is creating a significant additional workload for leasing agents handling the influx of inquiries.

Agents find themselves consistently answering calls, diverting time away from other crucial tasks such as engaging with new landlords, developing additional services, or supporting overall revenue and business growth. However, there are available solutions to support agents with this.

A virtual remedy:

Ideally, the government would reverse the section 24 rule, allowing landlords to be taxed on their profits rather than turnover, making property retention a viable option once again.

However, this reversal is unlikely to occur soon. Therefore, agents must proactively adapt their systems to handle the overwhelming volume of calls and applications.

Agents should explore technology solutions such as Agent Response, a system that diverts the majority of calls from the office to applications.

Companies specializing in call answering, such as Moneypenny and PropCall, can prove invaluable. Virtual Assistants can also process and triage applications, as well as manage additional administrative tasks related to the business, freeing up agents to focus on other responsibilities.

The potential advantages:

Failure to implement such technological solutions not only diverts the team from their regular duties but also increases pressure, potentially leading to staff turnover.

Implementing a simple technological solution can save the business money in the long run, fostering growth, revenue generation, and improve the work environment.

The information in this post is valid to the best of our knowledge on the date of posting. It is advised that you seek independent advice based on your individual circumstances. 

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