Just one in 25 property portal sales leads turns into an offer, it has been revealed by property software firm Reapit.
Its research among 1,000 agents shows that of all the internet leads supplied by the portals during the first six months of this year that turned into offers, 5,269 came from Rightmove, 1,330 from Zoopla and 225 from OnTheMarket.
Reapit also says a third of online lettings enquiries and a quarter of sales enquiries received from tenants and buyers by agents are ignored by them.
These figures are improvements on last year’s report. The number of leads ignored by agents has decreased by 3% for lettings and 4% for sales enquiries since last year.
Reapit says the main reason leads are ignored is that over half of online enquiries to lettings and sales agents are made outside business hours and then not actioned when offices re-open.
Peak times for out-of-hours enquiries are during peak weekday evening TV viewing times when Zoopla, Rightmove and PrimeLocation advertise, Sunday afternoons and – for between five and seven percent of leads, during the wee small hours between midnight and 6am.
“The lead conversion ratios are a key metric for every agent to establish for their own portal leads when considering a return on investment from their spend on the ever-increasing prices and options offered for marketing properties,” says Reapit director Simon Whale.
“Many of the statistics in this research demonstrate that the way in which agents serve clients at first point of contact needs to be modernised.
“Not only do many enquiries go unanswered until normal working hours, but many more never actually result in successful contact.”