The Guild of Property Professionals is to give its members a tool which, it claims, will show existing owners’ propensity to move - something it describes as the Holy Grail of the industry.
The Guild says 76 per cent, making the ability to determine which owners are likely to place their homes on the market in the next 12 months a valuable commodity, especially if agents are able to communicate with them before they take the plunge.
“Having data that helps agents target their prospecting to the most likely movers will give them an advantage over their competition by putting them in front of a potential vendor before any other agent. The Propensity to Move targets homeowners and the top 10 per cent of properties across the country where there is most likely to be a move” explains Iain McKenzie, chief executive of The Guild.
He claims the new tool, to be available from next month, has a 79.3 per cent success rate in predicting customers to market.
The current service identifies the addresses of a competitor's properties; it then monitors these properties in real-time and identifies points at which those vendors are most likely to be unhappy with their current agent.
The system then generates intelligent and targeted letters, each related to the vendor's individual situation and frustrations.
McKenzie adds: “The upgrade and inclusion of the new data will mean that the [tool] will not just be targeting listings already on the market, but also properties that are yet to be brought to market, providing further opportunities to gain instructions and grow their market share.”
He notes that in addition to the data upgrade, a new monthly communication option will also be included as part of the new off-market trigger allowing agents to send a softer message to those properties most likely to list, such as up-to-date market insight or information showcasing a member’s brand and expertise.