A proptech firm claims to have developed tech that can reduce the average cost of a property valuation lead by two thirds from £250 to £90.
Call360, which recently won a further £1.65 million from investors to grow its business, says the company’s platform enables money spent on Google searches and portal ads to be tracked, helping agents gauge the relative success of their different online marketing efforts.
On this basis, the company says agents on average overpay for valuations leads by £160 or, based on expected market activity this year, some £220 million – or around £11,500 per branch.
“The estate agency profession relies heavily on portals and other aggregators to generate property valuation leads,” says Mark Taylor, CEO of Call360 (main pic).
“But they can’t always establish the value of their online spend against results to keyword level, so they’re unable to optimise their online campaigns. As a result, agents struggle to know which lead sources are their best and worst.
“Analysing inbound calls at branch and call-centre level will massively lower the cost per instruction for an agency.”
Call360, which is party of the Esaleshub business, is one of a growing number of industry suppliers who can dice and slice online data about estate agency leads.
For example, competitor Callwell recently revealed that Rightmove generates 60% of all property portal sales leads with Zoopla generating 32% and the rest coming from OTM and the challenger portals, while start-up data app Agent Response claims only a third of lettings leads convert into enquiries.