THE TRENDS, CHALLENGES AND OPPORTUNITIES THAT SHAPED THE MARKET FOR ESTATE AGENTS IN 2024

The need for speed

This year, swift completion timelines have continued to be a top priority for consumers. Our research found that 71% of consumers are looking for a faster process from start to finish. The news that the Stamp Duty Land Tax (SDLT) threshold will drop to ￡125,000 from ￡250,000 or ￡300,000 from ￡425,000 for first-time buyers has only accelerated this, with many feeling the pressure to buy and sell before April 2025 and take advantage of the current rates.

In this blog we explain the impact of the Autumn Budget announcement on the market, including more people than ever turning to Auction in the months before and after.

To further satisfy the need for speed, we recently launched Premium Conveyancing. The newest service within movebutler gives you a route to speedier, smoother, and more successful Private Treaty sales by ensuring properties are exchange-ready faster. It helps to reduce transaction timescales by five weeks on average, with a typical completion being delivered in 79 days.

The importance of Material Information for consumers

While consumers don’t think about Material Information with the same compliance lens that agents do, they are keen to move quickly, avoid fall throughs, and make informed decisions - all things that upfront Material Information can facilitate.

Our research found that 92% agree that having Material Information provided upfront would greatly improve the home moving experience.

Read more about what consumers think about Material Information in our blog.

The increasing popularity of Auction

Auction sales grew month-on-month in 2024, and our Partner Agents have sold 10,267 properties from 1st January to 30th November 2024 through iamproperty– an increase of 15% on the same period last year.

Holly Price, eXp UK, is just one of our Partner Agents who has reaped the benefits of Auction this year. Being able to offer clients an alternative method of sale has worked particularly well, especially when trying to win new business. Read more about Holly’s 2024 Auction success here.

The role of AI

Advancements in technology continued to add value to the buying and selling process in 2024. While personable interactions will always remain at the heart of the property industry, it is important to embrace new technology in 2025, such as Artificial Intelligence (AI), as an invaluable tool to enhance efficiency, transparency, and client engagement.

iamproperty’s Marketing Toolkit uses AI to match and clean data ready to present to agents, with additional AI enhancements set to launch this year, including letter-writing using ChatGPT and a predictive market feature. Find out more here.

iamproperty’s 2024 highlights

2024 was one for the history books at iamproperty. We celebrated our 15th Birthday in October, launched new solutions and developed additional enhancements to support our Partner Agents' needs. Our latest launch Premium Conveyancing is an enhanced conveyancing option within our movebutler solution and will directly support Private Treaty sales. We continued to achieve record-breaking results month-on-month, with over 3,100 properties sold via Auction in September - November alone.

We have lots of exciting things in the pipeline for 2025, aiming to top the brilliant successes of this year. Want to be part of it? Find out how you can become a Partner Agent here.

Accelerate your success in 2025

Stay in the know with the latest insights and updates on the residential property landscape, as well as what’s happening at iamproperty, over on our LinkedIn Group, Solutions for Next Gen Agents.