Watch: what is the future of lettings sector PropTech?

In a video interview for Letting Agent Today, Neil Cobbold, Chief Sales Officer of PayProp, speaks to property professional Chris Buckler about PropTech in the lettings sector and the changes agents have had to make over the last 18 months.

He gives his views on the pandemic and the idea that the lettings industry has traditionally been slow to adapt technology.

He says that the pandemic has opened agents' eyes to what can be done with technology and that they don't always need to be with the customer.

According to Cobbold, the impact of the pandemic has challenged agents to stay interconnected with clients, while back-end PropTech innovations around payments, referencing and how to keep and store information have helped them to adapt.

He adds that the PropTech industry itself has become more open and there has been a realisation that it is here to make the lettings industry better together.

Buckler asks Cobbold where PropTech is going for agents who feel they have been 'side-swiped' by change. The PropTech and lettings expert explains that agents no longer need to see the value in what they do in the transaction. Instead, PropTech eliminates the transactional element, allowing agents to showcase their knowledge of the local market and what people want.

He adds that with the industry set to be regulated in the coming years, agents should act now to become as professional as possible, upskilling staff and investing in people.

You can watch the interview in full here: