A digital marketing agency has developed a tool which it claims will help estate and letting agents to increase their stock levels.
Angels Media, publisher of Estate Agent Today, Letting Agent Today and service provider to the property industry, has developed the Value My Property (VMP) Tool which aims to convert website traffic into genuine vendor and landlord leads.
The VMP tool sits on an agent's website as an iframe and offers visitors - potential vendors and landlords - the opportunity to receive a free instant valuation of their property in exchange for their contact details, thus converting them into a lead to follow up on.
According to Angels Media, the tool reaches its valuations from a variety of reliable sources including 20 million sold price records and 18 million estate agency listing records.
The agency has also reported that for every 1,000 visits to the VMP tool on an agent's site, 260 of these visitors convert into leads - an average conversion rate of 26%.
The tool originates from www.valuemyproperty.co.uk, a consumer-facing website which generates 1200 potential vendor enquiries each month.
This claim comes at a particularly pertinent time after the NAEA's Managing Director Mark Hayward recently said that the number of buyers significantly outweighs the number of properties currently up for sale on the market.
The regulatory body's May research shows that the supply of homes for sale has dropped by 27 per cent since this time last year, although Hayward suggested that there may be an influx of panic sellers' in the coming months as consumers fear the impact of MMR and potential interest rate rises.
Commenting on the success of the tool, Karl Knipe of Kings Group, said: It's fantastic that the VMP sits on our site and generates leads for us to follow. Not only that, a number of people have told us they repeatedly visit our site to check the values of different properties.
Tom Harrington, Director of online estate agent House Tree, believes that consumers' need for instant real time information is something all agents should be considering when designing their websites.
The instant valuation tool provides users with a useful valuation range for their property, it is a fantastic way of capturing potential vendor details from your website traffic that would otherwise be lost if you fail to keep your visitors engaged, he said.
Our conversations with agents over the last six months all come to the same conclusion: they don't need buyers and tenants but they do need vendors and landlords, said Angels Media's CEO Nat Daniels.
This is where the Value My Property tool comes in. No matter how many people are visiting your site, if you have no way of converting this traffic into leads then ultimately it is pointless, he added.
Angels Media are also selling telephone qualified vendor and landlord leads generated from www.valuemyproperty.co.uk
To find out more how the Value My Property tool could dramatically increase the conversion of traffic to your website, please contact Craig Vile on: 0208 663 4963, or email craig.vile@angelsmedia.co.uk
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