A diagnostic service has been launched for estate, lettings and block management agencies to measure their efficacy.

Called The Property Agency Benchmark, it’s operated by consultancies Oliver and House of Marque and it scores participating agencies across five stages against a fixed standard, then puts a figure on what’s slow, what’s underused, and what fixing it is worth.

It asks five questions: could this run faster, could the team do more with the hours they’ve already got, are enough of the leads coming in actually converting into instructions and revenue, and is every line on the P&L still earning its place. 

The figures behind the benchmark say this matters to all agencies but especially those anticipating new investment such as a new CRM, a new piece of technology, or a system change.

Agents pay £1,000 to £1,250 for the assessment, with that price defrayed by any future paid-for services commissioned.

“Every agency we’ve ever looked at is paying for at least one thing that isn’t earning its place, a tool, a subscription, a process nobody questions anymore” says Adam Graver, co-founder of House of Marque. 

“The Benchmark doesn’t guess which ones need to go. It shows you, in writing; our average audit at House of Marque saves agencies £8,000 straight away as well as helping make decisions on what to do with the elements that stay a part of the mix.”

Sam Olliver, founder of Olliverr, adds: “A growing agency is a double-edged sword. More instructions, more revenue, a business worth more than it was last year. 

“The catch is that the way of working that got it here is rarely the one that carries it through the next stage. What was manageable when the business was smaller becomes a strain as the workload grows, unless processes, systems and automation are working together underneath it, so the team aren’t overwhelmed and clients get the same service as you grow.”