Estate agency owners are being advised to begin planning for 2027 immediately, with a focus on developing written strategies. The residential property market is described as challenging, with issues such as stock remaining on the market, ongoing fee pressure, and extended transaction times from valuation to completion.
In the lettings sector, the Renters' Rights Act is reportedly reshaping the operational model as it becomes established. Agencies are urged to scrutinise every cost, asking what return it provides, and to consider cutting expenses that do not demonstrate value. This approach aims to free up funds for effective investment.
The advice also highlights the importance of staff training, suggesting that untrained employees can be the most expensive line item for an agency. Budgeting for training is seen as an investment that can lead to valuers securing instructions at appropriate fees, negotiators maintaining sales, and property managers understanding new lettings regulations.