Referrals to be paid on foreign currency leads

PropertyIndex, one of the latest players in the property portal industry, is setting up its own foreign currency trading team with the launch of Currency Index.  The site says the move has been prompted by the poor deals often offered by established currency brokers.

The new business will also be launching a referral scheme for its client base of over 900 agents and developers, meaning that agents marketing overseas property for sale will get a fee for leads.

Currency Index will be led by the newly-appointed managing director, Robin Haynes.

“The industry has been crying out for a development like this. For the first time, agents and developers will be able to maximise the value of their leads in an industry which has typically underestimated the value of referrals,” said Haynes.

“Traditionally, brokers simply pay a commission on the sales which result from foreign currency leads. However, the launch of Currency Index means that, in addition to overseas agents and developers earning a commission on referrals, they will also receive a cost per lead payment.”

Lee Bramzell, managing director of PropertyIndex, said: “PropertyIndex generates hundreds of foreign currency leads every month which a brokerage firm would typically only pay about £2.50 to £3 for. Not only will we be offering our clients a better deal through our generous commission structure, but we will also be providing an advance on this commission through our cost per lead proposition.”