The Real Disruption in Property: It's Not Price, It's AI
In the latest episode of Viking Chats, Kristjan Byfield sat down with Russell Quirk, a man synonymous with property disruption and bold opinions, to dissect the shifting sands of the UK residential property industry. While many still believe that disruption means slashing fees, Quirk argues that true innovation today lies in AI, customer service, and the credibility of digital presence.
Disruption Isn’t About Price Anymore
In his early days disrupting the market with eMoov, Russell Quirk thought lowering costs would revolutionise estate agency. Inspired by the rise of Amazon and lastminute.com, eMoov chased market share through cheaper fees. And it worked, to a point. Online agencies gained around 8% of market share, but never truly broke the traditional model.
"Better and cheaper" was the mantra for many startups. But as Quirk puts it, this thinking is outdated. Disruption today is not about price, it’s about service, convenience, and most importantly, technology. Consider Tesla or Five Guys, neither are cheap, yet both disrupted established industries by offering better quality and unique customer experiences.
AI Is the Game Changer
The elephant in the room? AI. While some in the property industry are still unaware, or unwilling, to embrace it, Quirk warns that those ignoring AI won't survive. In a recent InventoryBase survey, 51% of agents said they had never used AI and never planned to. According to Quirk, "Those agents will be closed in five years."
AI isn't just about automating tasks. It's redefining how consumers search, select, and engage with property professionals. Generative search tools like ChatGPT and Grok don’t rely on SEO tricks or domain authority. They seek trustworthy, nuanced information based on user-specific needs. Agents without digital credibility or up-to-date content will be invisible in this new search paradigm.
Portals Under Pressure
Traditional portals, Rightmove, Zoopla, OnTheMarket, built their empires on marketing dominance. But AI is upending their relevance. "AI doesn't care about brand prominence. It cares about quality, accuracy, and relevance," Quirk asserts.
Search will no longer be "listings-first." Instead, it will be contextual: "I need a three-bedroom home near a good school with ballroom dancing clubs nearby." If your website lacks that detail, or if your listing is flagged incorrectly as a flat instead of a house, you won't appear in results.
The shift demands a total rethink. Agents must invest in accurate, rich content and ensure their digital footprints extend beyond their own sites. Social media, local PR, and backlinks matter more than ever. Digital PR is no longer optional; it's critical.
Brand vs. Person: The Rise of the Self-Employed Agent
Quirk notes a subtle but powerful shift underway: brands are becoming secondary to people. Self-employed models like eXp, TAUK, and Hortons empower agents to build personal brands with strong service ethics. For many consumers, trust lies with the individual, not the corporate name.
This isn't disruption for disruption's sake. It's a return to a more human model. One person guides a client through every step of the journey. And in an industry where "people buy from people," that continuity matters.
Lettings: Still Transactional, But Changing
Lettings remains more transactional than sales. The emotional stakes are lower, and often, the brand plays a larger role than the individual agent. However, AI and technology will still reshape how properties are found and managed.
Quirk sees a future where only the most agile survive. Those who lean on portals and high-street visibility alone are in trouble. The winners? Agents who master AI, optimise digital presence, and offer clients genuinely better service.
Conveyancing: The Next Frontier of Disruption
While AI is revolutionising agency, conveyancing remains stuck in the past. Quirk and Kristjan lament the glacial pace, high fall-through rates, and resistance to tech adoption. The process is expensive, stressful, and often unnecessary complex.
The solution? A tech-enabled, premium service model. Instead of commoditising conveyancing with bargain-bin prices, why not charge more for guaranteed speed, responsiveness, and certainty? As Kristjan noted from a recent Spanish property sale, a competent lawyer charging more provided far greater value than any cut-rate UK conveyancer.
AI can assist in streamlining document reviews, standardising replies to enquiries, and flagging risks, but only if the legal profession embraces it. Right now, Quirk sees little evidence of that happening.
What Should Agents Do Now?
Get AI-literate: Whether through TLDR newsletters, product integrations, or hands-on experimentation, start learning how AI tools can enhance your operations.
Invest in your digital footprint: Keep your website updated, link it to active social feeds, and build third-party endorsements via digital PR.
Be visible to AI: Forget domain authority, AI wants rich, trustworthy data. Make sure your listings and web pages include the nuanced details buyers search for.
Prioritise value over cost: Clients are willing to pay more for better service. Embrace premium offerings in agency and conveyancing alike.
Prepare for a portal-light future: The era of being discovered only through Rightmove is ending. Future clients will find you through generative AI, not PPC.
Conclusion
Disruption in property isn't about shaving off pounds from your fee. It's about evolving with how consumers think, search, and trust. From AI-powered search to agent-led branding and streamlined conveyancing, the industry is at a turning point.
The question isn't whether disruption is coming. It's whether you'll be part of it, or left behind by it.
