Last Friday we were delighted to welcome Complete Prime Residential London associate director Sam Tabor to our Whitechapel offices to meet with the entire Goodlord team.
During a 30 minute discussion and Q&A session, Sam told us all about Complete’s experiences of using Goodlord along with his thoughts on the current challenges within the lettings industry.
Complete is a large, residential investment asset management specialist that is absolutely committed to top level customer service, considering this to be a key attribute in their referral-based business. When asked what Goodlord means for them, Sam explained “It’s an addition to the level of service we provide our customers, and there would be no way we would have done the numbers we did last year without Goodlord”.
Challenges for letting agents
Prior to using Goodlord, Sam and his team considered the following to be particular pain points when it came to their day-to-day duties:
- The inefficiencies and time-consuming nature of tenant referencing and administration
- A high turnover of administrative staff
- The use of manual template tenancy agreements, which frequently resulted in manual errors
- Clunky all-round processes
Sam explained that by implementing Goodlord across the agency, Complete Prime Residential London hoped to address a number of challenges that he feels face the lettings industry as a whole:
- Reduce the overall administrative workload in order to free up time for other activities more directly related to growing the business and providing world-class customer service
- Maintain a balance of getting tenants into properties quickly whilst ensuring they are tenants of high quality
- Explore alternative ways of generating extra revenue from additional services to help make up losses resulting from the tenant fee ban due to come into force in spring 2019
- Stand out from other letting agencies by providing a highly professional service that meets the significant digital expectations of modern customers
More business and better customer feedback
Now, 16 months since Complete Prime Residential London joined the Goodlord family, they are completing more lets than ever before.
“In 2016 we did 316 lets, 382 in 2017 and we predict we will do upwards of 462 in 2018, in London alone. We achieved this without having to increase the number of administrators we employ", enthuses Sam.
"Our Complete Prime Residential Manchester office, which opened in November 2016 and also uses Goodlord, has also done a staggering 367 lets through the platform since opening their doors. We wouldn’t have had such great results without Goodlord!”
The feedback from Complete Prime Residential London’s customers has been positive as well. The move to Goodlord has been seamless from a tenant perspective, and the general feeling is that the agency is now positively differentiated from others through its use of a single, digital platform for setting up tenancies. Sam also reports a significant drop in complaints, which is great to hear.
There is always room for improvement, however, and talking directly to our customers is always the best way of finding out how we can make the Goodlord platform even better. We look forward to providing improved functionality in upcoming releases and making the lives of the Complete Prime Residential London team and their tenants even easier.
The future of the lettings industry
And what of the future for the lettings industry? Despite current challenges Sam remains optimistic, particularly about the benefits that technology can bring.
“Residential sales transactions in London have slowed since the Brexit referendum and stamp duty revisions for higher value properties,” says Sam. “We do however have every confidence activity in the market will pick up when the uncertainty surrounding Brexit and the UK economic climate settles. Fortunately, The lettings market remains strong in London and the Northern Power House cities.”
“Proptech will play a vital role in the future of the industry in much the same way that technology has done for finance. We have watched with interest the disruption from the likes of Purplebricks, and we have experienced the huge benefits brought about by Goodlord’s platform. There is no doubt that further innovation is needed across all of our processes so we can keep up with the expectations of our clients and deliver exceptional customer service, but also remain competitively priced - particularly with the anticipated arrival of the tenant fee ban.”