Zoopla has launched a portal that enables estate agents to track property sales and potentially provide an extra revenue stream.
Its Progression Portal provides real-time updates for 15 stages of the sales process including mortgage offer issued and legal completion as well as enabling agents to view all pipeline business.
Each stage is tracked automatically and is back office integrated with on panel conveyancers which can be referred at the point of instruction.
A new-homes version of the portal launched 15 months ago and has reduced cancellations by a quarter and reduced the time to exchange by 37%.
Agents can pocket a mortgage referral fee of up to £400 if they pass buyers or viewers to portal partner Mojo Mortgages – currently sourcing deals for 95% of applicants. And there is also a £100 referral fee is clients use the portal’s conveyancing panel.
Andy Marshall (pictured) Zoopla’s chief commercial officer, says: “Lack of supply continues to be an ongoing challenge for estate agents and this will support our customers by not only freeing up time for them to focus on new business – but also giving them the opportunity to generate more revenue for their business.”
Peter Ambrose, managing director of property law firm The Partnership, adds: “Having worked with their housebuilder clients over the last 18 months we’re excited to see this technology extend into the resale sector – let no one be in any doubt, this is the future of property transactions and it’s here and working today.”