Another month, another online-only lettings agent that misunderstand what makes money in rental real estate.
Unlike airlines, gyms and transit services, there is no upsell or margin in online agency. Certainly not without hiring many, many people to call landlords (like Foxtons do).
EasyProperty has the brand recognition, so at the very least will get a false positive of demand for its services.
Like Upad, OpenRent and Rentify before it, EasyProperty has to compete with the higher margin services of 18,000+ branches full of staff selling to absentee landlords.
Landlords who self-manage, are typically who these online agents attract. And many a tenant will testify that these landlords don't like to spend a penny more than they are forced to.
Good luck EasyProperty. Looking forward to your pivot press release.
This story was first reported on Estate Agent Today: