A new PropTech platform backed by Countrywide and Foxtons says it offers agents an opportunity to reduce admin, increase revenue and improve compliance.
Propoly describes itself as a white-labelled B2B platform that allows agents to automate and digitise tasks from the stage when a prospective tenant makes an offer on a property, right through to check-in.
It can instantly generate fully pre-populated tenancy documents such ASTs, Offer Letters, Guarantor Letters and Prescribed Information Certificates. It also tracks payments made by tenants including the holding deposit, first month’s rent and security deposits; and it allows instant referencing with open banking, which it says will help reduce agents’ referencing costs.
Agents can work with it remotely and paperless, with additional revenue secured through the sale of third party products.
The product, which has taken three years to come to fruition, has seen investment from both Countrywide and Foxtons, and Propoly has now become a Propertymark-protected industry supplier joining the likes of Reapit, Fixflo and PayProp.
A testimonial statement from Paul Chapman, Countrywide’s national head of sales and lettings, says: “We believe that the key to branches remaining profitable is having the right mix of technology, brand and great people. Being the largest UK agency business, we fully appreciate the time, admin savings, revenue opportunities and reduced compliance burden that the Propoly system offers.”
And Patrick Franco, chief operating officer at Foxtons, adds: “We invested in Propoly in 2018 because harnessing and supporting industry-leading technology is central to Foxtons’ strategy, and in the current pandemic tech is clearly more important than ever. We believe that Propoly offers an affordable, subscription-based product that can help smaller and medium sized letting agents, who don’t have the scale to develop their own technology, still adapt their business models under these challenging market conditions and help ensure they maintain safe workplaces.”
Propoly co-founder Ed Gazelle is a former trader at Goldman Sachs and asset manager at FTSE 100 property company British Land. The other co-founder, Ray Kyrson, has a background in banking, finance, technology and property.
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This is an advert right?
Wouldn't have ANYTHING to do with Foxtons no matter what!!
A corrupt organisation as has been proven in various Court cases.
Probably the same for Countrywide on the basis they will be out of business soon.
Paul, I stopped reading after the word Foxtons. My only experience with them was many years ago letting a flat to a young man in Bristol. I cannot remember why he failed but I do remember his sister ring up to tell me I was wrong because she worked for Foxtons!
Actually she was in the wrong, legally and morally and I explained that just because she worked for a firm in London did not mean that she knew better that anyone else.
They had an air of superiority in those days that still persists today. Not sure why because they have nothing to be superior about as thos court cases have shown.
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