Massive drop in physical viewings thanks to PropTech ...

There’s been a drop of no less than 16,000 in the number of physical viewings over the past year thanks to just one PropTech product, its creators claim.

Estate and letting agents using livestream viewing app Gavl have had to carry out 16,000 fewer physical viewings since it launched in the UK in May 2020.

These have instead been replaced by 1,430 livestream open house viewings with an average attendance of 11 at each event.

"Converting 16,000 physical appointments into 1,430 livestream viewings has saved agents a huge amount of time across the whole viewing process from qualification and travelling, through to answering questions and gathering buyer feedback" says the PropTech company’s chief executive Joel Smith.

The company cites a Kent agency, the 15-branch Miles & Barr, which has used the tool to reduce lettings viewings.

"We have managed to substantially reduce the number of viewings per let which in turn has had a positive effect on the quality of service that viewers have had following the livestream. We were undertaking approximately 20 to 25 viewings per day, this has now been reduced to less than 10 per day. These physical appointments are therefore far more productive and customer service-friendly” according to Miles & Barr director Simon Thompson.

"We have been able to reallocate viewing staff to other roles to support and grow the business. As such, not only has it helped save money, it has also allowed us to be more productive in generating more business" he adds.

Gavl claims that staff time is saved not just during the viewings but also in travel to and from properties.

As importantly, according to Smith, there is also less time spent on qualifying applicants and weeding out time-wasters.

"Qualification of applicants needn't take hours nor be an admin-heavy process. Livestream open house events allow agents to pinpoint the most serious buyers or tenants quickly and then focus their resources on progressing the transaction with these applicants" says Smith.

Gavl's research shows that 11 per cent of consumers attending livestream viewings are prospective sellers, while a further six per cent are landlords.