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PropTech product for independent agents claims to slash 'lost business'

The Federation of Independent Agents trade group has unveiled a new automated nurture product available exclusively to members - and it claims to slash the volume of lost business.

FIA founder Graham Lock says: “This year approximately 64 per cent of property buyers re-listed their home with a different agent to the one they originally bought from. We wanted to find a simple, automated solution that vastly reduces this rate.

“We researched the supplier market for an existing product but couldn’t find exactly what we wanted, so we built it ourselves. It has taken several months but well worth the wait.”

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Lock says the PropTech product may be seen as ‘long-tail nurturing’ due to the time it takes between home moves. But he insists the ‘halo’ benefits could drive short and medium term business from the likes of re- mortgage enquiries and referrals.

The product allows agents to put buyers into an automated system that will send out regular SMS messages as well as branded and interactive greeting cards on the buyers’ anniversary. 

By using QR codes the agent is able to provide a personalised experience to each buyer which will include the option of an agent-branded local market snapshot powered by Homesearch. 

The agent can also nurture buyers who may be interested in re-mortgaging, providing further revenue opportunities.

The product will be unveiled at the FIA conference on December 17.

Lock says member agents will enjoy 200 free sales nurtures as part of their existing membership.

“This will enable our member agents to remain connected to their buyers for years to come, whilst adding valuable local insights and updates along the way. They’ll never forget a buyers’ anniversary as the whole system is automated” he claims.

“I also expect new vendor referrals to increase on the basis that the agent will be on the minds of homeowners as they maintain a long term valuable relationship and therefore happy to spread the good word.”

Lock adds that recent new agency recruits to the FIA include Gilbert & Rose, Mclarens, Ensum Brown, Century Residential, KMJ Property and Regal Estates.

“The FIA continues to attract top independent agents from all over the country, I’m very proud of the brands that we have in our group and look forward to adding further value as we continue with our exciting growth plans” concludes Lock.

  • Where Is The  Monii Money

    Data indicates that people move on average every 20.8 years (longer in London and shorter in Kent!). There's long-tail and there's long-tail...

    Would be good to know how the FIA actually tested the viability of this product and what the demonstratable improvement on the "64%" (and where did that number come from?) was.

    It's a clever idea though. A software marketing product that is unchallengeable in terms of having to demonstrate a return on investment. A salespersons dream!

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