Weekly News Roundup: YOTI, Propertymark, Airbnb & More

A roundup of the week’s top proptech and real estate news stories in partnership with Estate Agent Networking.

On the 8th July, YOTI will be hosting a webinar outlining where the property industry is going. Robin Tombs, CEO of Yoti, and real estate tech luminary Gary Barker will be there alongside yours truly, Andrew Stanton. It will be a session of really useful insight into what is going on; insight, humour and all your friends. See you there.

Here’s the registration link. Listen in between 11.00 and 12.00 on 8th July.

YOTI event on Proptech News

Is Airbnb killing the private rental sector?

According to a report in the Guardian recently, findings suggest that although there were only 62 properties in the Cornwall area listed on Rightmove for rent, Airbnb by contrast had over 10,000 listings for accommodation in the same area.

So, two things at play here. Firstly, holidaymakers seem to be the higher payer for accommodation. Secondly, for those living locally, it is almost impossible to get rented accommodation. Where then does that leave Airbnb?

Nathan Emerson, CEO of Propertymark, unveils new CRM and “digital future”

Propertymark has just unveiled its new CRM, enhancing its ability to service its member clients. It is looking closely at the way technology will knit together with the needs of the modern property professional.

In my opinion, Nathan Emerson has put Propertymark on a new and enlightened digital pathway that will enhance value for its membership. His inclusive and attentive policy, together with his insight into the traditional agency and the needs of agents to adapt to a less analogue age (where clients are digital natives expecting service at a faster rate and via multi-channels) is winning hearts and minds.

SearchSmartly raises £1.25m in funding

Based in Shoreditch, London, SearchSmartly is a solution built with artificial intelligence which looks to help the property consumer “do property” in a quicker more intelligent way, has just received a sizeable amount of funding.

Empowering the UX for end-users has always been at the heart of the SearchSmartly proposition, a deeper dive into what the client really wants, means better searching, enhanced matching of tenant or buyer with property, and wins for all.

CMA turns up the heat on new home leasehold scandal

After two years of setting up an investigation, the Competition and Markets Authority (CMA) looked closely into the widespread practice of making some new homes subject to a leasehold agreement, where charges could be racked up making some properties unsaleable, seeing owners facing huge bills they had not expected. Persimmon has now broken cover and said it will remedy the situation.

It will give buyers the option to buy the leasehold interest so they are in charge, and remove clauses that are considered unfair. The CMA has made it clear that if other NHBs don’t fall in line they can expect to be prosecuted.

Many buyers bought properties oblivious to what the leasehold provision tied them into, and many of the freeholders became freeholders to the leases as they were a good financial return. One wonders if the solicitors who did the original conveyancing will get caught up in this debacle.

Instructions down by 25%

In the latest analysis of homes coming to the market, compared to the same period instructions are down by 25%. This may be the Euros, end of SDLT holiday, or holidays themselves. At this rate, a slowing of new stock to the market, traditionally in late July, might mean that the steam is, at last, coming out of the market.

Andrew Stanton is the founder of Proptech-PR and Proptech-X. He grows proptech companies using his influence from decades of industry experience and is a consultant to some of the biggest names in global real estate, advising on sales and acquisitions, market positioning, and operations.

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