"This year’s survey results show that sales and letting agents want to see how PropTech can help their agency improve productivity and develop new revenue streams to prepare for the challenges of the future"
- Dr Neil Cobbold - Reapit
Estate and letting agents remain confident about their long-term future, despite economic challenges and the largest wave of housing legislation seen in decades.
The first Reapit Property Outlook Report 2025 surveyed sales and lettings professionals nationwide. It found that 76.3% of those questioned intend to stay in the industry for at least five more years. This figure marks a rise from 66.1% reported in the previous year’s Rental Confidence Index, which was published under the now-merged PayProp brand.
The survey highlights resilience in both lettings and residential sales sectors, even as agents face rising costs, purchase affordability pressures, and buyer concerns such as reduced stamp duty relief.
Dr Neil Cobbold, commercial director at Reapit (pictured), said, “The challenges are well-documented, whether through legislation, tax changes or the economy, but our poll reveals that agents are continuing to show remarkable resilience.
“This year’s survey results show that sales and letting agents want to see how PropTech can help their agency improve productivity and develop new revenue streams to prepare for the challenges of the future.”
Navigating regulatory change
Reapit’s nationwide survey also explored agents’ views amid ongoing regulatory reform. This includes the upcoming Renters’ Rights Bill, new energy performance certificate (EPC) requirements, stamp duty changes, and leasehold system reforms.
New regulations (59.7%) and new legislation (52.0%) were cited as the top concerns among agents, with profitability closely following.
In sales, agents are adjusting to the April stamp duty changes that lowered the nil rate band from £250,000 to £125,000. Combined with higher interest rates and affordability pressures, over half of respondents pointed to these as significant barriers. Still, 43% described their local sales market as stable, and 38.3% said it was performing well, partly driven by activity ahead of the tax changes.
Technology adoption supporting growth
Agents are increasingly turning to PropTech and automation to boost efficiency and protect margins. The report revealed:
61.6% agree that PropTech is a worthwhile investment, with automation increasing in over half of agencies during the past year
34.2% use technology specifically to improve productivity
Sales agents identified conveyancing delays (60.2%), high competition (49.2%), and realistic asking prices (46.1%) as top challenges, viewing digital tools and process improvements as key solutions
Cobbold said, “In both sales and lettings, the drive to adopt smarter technology isn’t just about reducing admin.
“It’s about allowing agents to handle higher volumes, serve customers faster, and maintain strong margins, even in a challenging market.”
Growth through acquisition
The survey also showed strong interest in mergers and acquisitions. Nearly 45% of respondents said they had acquired or were considering acquiring another agency or rental book in 2024. Only 16.2% were considering selling, a decline from previous years.
Confidence in the sales market remains firm. More than 39% of agents reported optimism about the future of residential property sales, while fewer than 23% felt pessimistic, despite affordability and tax pressures.
“This confidence isn’t misplaced,” Cobbold added.
“While affordability and unduly long transaction times continue to trouble the sector, underlying demand for homes remains strong,"
“The agencies that will continue to thrive are those that position themselves not just as brokers, but as trusted advisors who can guide clients on their journey to property ownership."
He concluded, “There’s no question the operating environment is complex and there are still affordability barriers for first-time buyers and significant supply issues on the rental side,"
“But it’s also clear that agents, across both sales and lettings, are prepared to adapt. Those who embrace change will not just survive but thrive in the years ahead.”
