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Tenant Fees Bill reaches the House of Lords

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Facing the fees ban head on

Friday 07 September 2018

Propertymark Industry Supplier, Reapit, help agencies find ways to grow their business, regardless of the myriad of challenges they face, such as legislative changes, interest rate hikes, political instability and increasing digital demands of customers.

The upcoming fees ban, and the impact it could have on the bottom line of letting agencies, is certainly one of the biggest current challenges that agencies must deal with. The good news however, is that there are in fact opportunities for agencies to grow despite the expected impact of the ban.

Estate Agency Challenges

For Bradleys, one of the largest independent estate agency businesses in the country with 33 offices and 220 employees across Devon, Cornwall and Somerset, their biggest challenge came at the beginning of the 2007 market crash. The agency never fully recovered to the sales transaction volumes that they enjoyed in 2005 and 2006. Like so many other agents, their business was forced to adapt to a tough market; they needed to find ways of working more efficiently and more cost-effectively.

As Bradleys delved into the performance of their business, they realised that they could potentially save costs by pooling resources and centralising some of their operations. But simply reducing staff and offices alone could impede growth. Instead, they focused on enabling their employees to work more productively and improve cross-office collaboration, so they took the decision to unify their businesses and offices through a single cloud-based software platform.

Integrated Solutions

Using Reapit’s RPS platform and working closely with the Reapit team to customise it for the perfect fit, Bradleys were able to integrate their estate agency CRM, lettings CRM, property management and client accounts software into one database, while also connecting all 33 offices to a single software solution to unlock unprecedented collaboration and improve consistency with central departments.

Lyndon Bent, Commercial Director at Bradleys commented "There are a number of different examples of integrations that make our business very efficient and, therefore, profitable from the point of view of the time saved. Now that we have a system like RPS that is completely interconnected across our branches, it means that we’ve been able to adopt a huge amount of centralisation.”

On their remarkable results whereby they more than doubled their property book, Bent added: "We have been scaling our business and we were probably going to have to employ another two or three people, but by taking on Reapit Accounts we’ve been able to not do that and manage our lettings business very effectively from one location…RPS allowed us to increase our managed property book from 700 to 1800 properties."

Increased Growth

Using Reapit’s proven RPS platform, Bradleys have put their growth on repeat by running their business efficiently and driving more opportunities from their data with ease. Their property management portfolio has increased by more than 150%, client accounts now operate with an efficiency that supports their growth, and continue to win major awards for their customer service, despite having a reduced headcount in each of office.

Never content to rest on their laurels, the Reapit team continue their work with Bradleys to ensure they proactively support all Bradleys’ future growth goals. Because as the adage goes, fortune favours the prepared. 

To find out how Bradleys realised such significant growth, watch the full interview.