iamproperty has launched a new estate agency platform promising to slash software bills – potentially to zero – but agents will have to wait until their second year to cash in, and the company has yet to reveal how much business they must generate to qualify.
The new platform, called One, combines 12 property technology solutions with a credit system that rewards agents for using iamproperty’s auction, conveyancing-related and Sale Ready services.
The company says agencies could potentially eliminate their software costs altogether by generating enough business through these services.
Reflecting on its commercial model, iamproperty told EYE that agents must accumulate credits during their first year before using them to offset software costs in year two.
It has not disclosed how many transactions agents would need to complete to cover their bills.
How does the free software offer work?
An iamproperty spokesperson told EYE: “With One, you can earn credits through services such as Auction, Legal Preparation and Sale Ready. These credits build up throughout your first year and can then be used towards your software costs in year two, including CRM, Lead Generation and Market Appraisal.
“Depending on your activity, you could earn enough credits to cover your software costs entirely, meaning One could effectively pay for itself. Agents can get personal proposals and there will calculators on the iamproperty website, with live agent demonstrations.”
EYE asked what level of conveyancing, auction or Sale Ready business an agency would need to generate to eliminate its software costs.
The company did not provide a figure. Nor did it disclose standard subscription prices or the value of individual credits.
That leaves agents needing a personalised proposal to establish whether the offer would deliver meaningful savings.
Can agents still use rival providers?
EYE also asked whether agencies must commit to iamproperty’s transactional services to qualify for credits.
The company confirmed that agents remain free to use competing providers. However, only business generated through eligible iamproperty services earns credits towards One’s software costs.
The spokesperson continued: “One is designed to be flexible, so you can choose the modules that suit your agency and add more as your business needs change.
“With One, you can earn credits through iamproperty services such as Auction, Legal Preparation (using our managed panel) and Sale Ready. Activity with other providers is not restricted, but you’d only earn credits with iamproperty services.”
The arrangement gives agents a financial incentive to use iamproperty’s services, although the company says they can continue working with competitors.
Could the credit system create a conflict of interest?
EYE also questioned whether the model could create a potential conflict of interest.
Agents who earn credits by placing business with iamproperty have a financial incentive to recommend its services. That raises questions about how they balance those benefits against the needs of individual customers.
Asked how it ensures recommendations remain focused on clients’ interests, iamproperty pointed to its emphasis on consumer choice and agent training.
The spokesperson added: “iamproperty is built on years of market credibility, where service offering has always been about choice for consumers, giving everyone more options when it comes to buying and selling houses.
“And this has always been, and will always be about consumer circumstances. A lot goes into agent training, best practice guides and a success hub, all built on a circumstance checker, which helps agents to work with vendor needs and offer more choice to the end consumer.”
The company did not specifically explain how agents should disclose the credit incentives to customers or manage potential conflicts arising from them.
Twelve solutions under one roof
Beyond the credit system, One brings together tools covering lead generation, market appraisals, client management and sales progression.
The modular platform connects agency, market and customer data to help agents identify potential instructions and additional business opportunities.
iamproperty says the integrated approach could reduce the need for agencies to operate several separate software systems.
Co-founder Ben Ridgway said rising costs and pressure on fees had influenced the company’s decision to introduce the new model.
“We know profitability is a huge focus for agents right now. They’re having to work harder for every instruction and every fee, while the cost of running their businesses continues to rise,” he said.
“We wanted to challenge that. Why should software always be a cost to an agency?”
Fellow co-founder Jamie Cooke added: “What makes One different is the way everything works together. We’re not just connecting products; we’re connecting the whole journey.”
Questions remain over costs
For agencies already using iamproperty’s auction and conveyancing-related services, One could offer a way to reduce software expenditure.
But the potential savings will depend on subscription charges, credit values and the volume of eligible business generated.
Agents will also need to consider whether the financial incentives align with the services best suited to their customers.
For now, the central question remains unanswered: how much business must an estate agency generate to get its software for free?
iamproperty says personalised proposals, online calculators and live demonstrations will help agents assess the potential savings.
