Proptech firm says average Q3 deal value up 83%

Letting agents are increasingly demanding more flexible systems that are easier to set up themselves and operate more flexibly, rather legacy and custom-built systems that require developers to implement changes, according to new figures from Alto.

The company says it has seen a significant shift in adoption, with the number of agencies switching to Alto from major rival systems more than doubling, up 130%. Its Q3 2026 results show that average deal value rose 83% year-on-year.

This was driven by larger agencies signing up, with Alto winning 171% more of its largest deals between January and September than in the same period last year. Revenue from those deals was up 228%.

New sales rose 9% on Q2, and September sales were up 11% year on year.

Redstone Lettings and Management, King & Partners, and Middleton Estates are among those who moved to Alto in Q3.

A need for more automation

Norfolk agency King & Partners moved to Alto in Q3 after eight years on its previous system. “The legislation and the changes coming into the industry mean we need to be more automated,” says Chris Tonroe, a director of King & Partners. “We need a lot more help with the back-office work now, and that meant looking at a system that could keep up.”

Riccardo Iannucci-Dawson, CEO of Alto, says custom built systems quickly became outdated. “Big agencies have spent years paying to have systems built around them, and those systems never kept up.

“That’s not what modern agencies want any more, and I don’t blame them. They want to set the system up the way they work, and use AI for real jobs, like chasing a sale or matching a buyer, inside the system their people already use.

He claims that Alto ‘works like an AI operating system for the whole agency’.