27/03/2022
It's no secret that every year lettings agencies find it more difficult to earn and that their margins are decreasing. There are several reasons for this, including changes in legislation, a pandemic, and competition from large players. This, however, is only half the trouble. The pandemic has only spurred this trend and today it is possible to finalise any transaction without getting up from the couch, provided there is a stable wifi connection. Sounds like very bad news for traditional agencies who may not be on the same wavelength as modern property-tech companies.
Meanwhile, there is no time to despair! The times of change are known to bring new opportunities. What if you look at the current changes from a different angle?
If you can't beat 'em, join' em!
Well, firstly, not all newcomers to the market have the task of taking a bite from your piece of the pie. On the contrary, recently a lot of services have appeared - ones which aim to make life easier for professional ‘real estate gamblers.’
Secondly, a number of new services are aimed at neither fighting or helping, but at symbiosis, when both a professional agency and a new service do something together, benefiting not only themselves but also clients, be they landlords or tenants. This is a rare combination where everyone wins. It's too good to be true, but it still happens today. There are many examples: convenient payments and control over utility bills, services for legal support, insurance, deposit schemes, property care, and so on.
When we came up with Wectory, we wanted to make a service that everyone benefits from. Our team has accumulated all of the necessary experience for this. We ourselves are landlords, tenants, bankers, programmers and have experience in the field of lettings. We have blended many positive components together and generated a service that benefits everyone.
Wectory is a service that pays rent in advance and guarantees rental income. Your landlords receive up to a year’s worth of rental payments right away along with rent guarantee insurance, is this not an ideal offer?! You make your customers happy and in turn, they value cooperating with you. In addition, you have something to hook new customers and welcome them to your agency, as Wectory would serve as your secret weapon! It doesn’t stop there, as you also earn a super decent commission on every trade!
We are preparing to launch our Agent Reward Program and invite the first 100 agencies to cooperate. We will offer our first partners great and exclusive commission conditions.
Please note that our capital is planned and we, despite our desire, will not be able to accept more than 100 partners for the time being.
You can apply for participation in the program and learn more about the terms of service at
Upfront funding to landlords, in exchange for a service fee. Wectory manages the current rental income from a landlord under a tenancy agreement which has already been put in place. Wectory also helps tenants make and manage payments via the application.