North East lettings agency KIS Lettings expects to see turnover rise above £1m for the first time after expanding into sales.
The South Shields-based business said it will use technology to revolutionise the way people buy and sell homes in a move which will also create three new jobs, taking the headcount to 15. KIS currently manages properties for over 700 landlords from branches in South Shields, North Shields, Sunderland and Welwyn Garden City and was named Letting Agent of the Year at the 2013 national Landlord and Letting Awards.
Now it is planning to use a new piece of software technology which promises to transform the process of house buying.
Founder and managing director Ajay Jagota said: “Only recently have economic conditions become right for KIS to bring our successful approach to renting to the residential sales market. Property prices in the North East were still falling as late as last year – but more recent figures from the Office of National Statistics show a 4.2% rise.
“That might not be as high as other parts of the country but it definitely suggests the property market is on the up.
“People are still buying and selling houses like they did in the thirties and forties and that system is out of date and it needs to change.”
The software technology will allow people buying and selling them to see in real time how their sale is progressing, which applications have been approved, milestones reached and checks completed – as well as helping them stay on top of the huge amounts of paperwork involved.
Jagota added: “Anyone who has bought a house will tell you the euphoria of having your offer accepted quickly fades into the frustration of ringing up your solicitor every couple of days to ask why you can’t move in yet. Our software will hopefully go a long way towards ending that. The technology builds on the online dashboard we already used, which gives our landlords complete transparency with regards to their accounts and much better communication.”