Agents new and old, know that online listing portals like Rightmove and Zoopla are the only way to source leads for properties. Year on year the cost of these portals continues to increase. Making the portals more profitable while making it harder for the more local agencies to keep up. The question arises is whether it is workable to continue using these services. Are there are any other alternatives that provide the same results. Is it becoming a necessary evil where the cost is becoming greater than the given outcome?
Lee Wainwright, the former CEO of Purplebricks, a veteran in the real estate industry, says, that there is no alternative to Rightmove. This is because the portal has “won consumer’s expectations” when it comes to a property listing. Even stating that “there is no alternative…there is no choice”.
Arguably, the relationship isn’t an abusive one. Industries have always faced competitive prices and Rightmove is no different. If Rightmove wasn’t charging that amount, someone else would. Though many agents in the industry still argue that the relationship is becoming more and more disconnected. Leading agents to move towards developing their digital presence. Moving towards digital advertising to push their properties and generate leads.
Developing a digital presence maintains their brand and allows differentiation from others. Where Rightmove strips the agency brand, social media allows them to drive traffic to the agency. Yet, the benefits of digital aside, property landlords are conditioned to feel that Rightmove is a must-have. If an Agent doesn’t have Rightmove, then the agent is not in a strong position to close their property. So what are the alternatives?
Try other portals
- There are many other portals out there, OnTheMarket, Zoopla SpareRoom and the works
- Of course, these come with lower but similar price points – making these alternatives just as expensive
Develop your brand on Social Media
- By developing your brand on social media you’re differentiating yourself from the competition
Monetise your open applicants
- Tap into your CRM and find similar properties to the one you already closed. Rather than getting more leads from Rightmove, utilise the leads already in your system.
- Not only is your cost of acquisition not wasted, but you also build your brand as one that finds the properties your applicant wants!
- This is where XChange can help.
How can XChange help?
On average, for each property listed, you receive about 10 leads. Out of these 10 leads, 1 closes a deal on the property and the other 9 are still looking for a property. So what do you do with these leads? Many agencies tend to leave unmatched leads in the CRM. They try to keep them engaged through periodic emails that vaguely fit their requirements. This leads to lower engagement rates and usually wasted applicants, or wasted opportunities.
Our applicant matching solution works to find you more properties for applicants that are sitting in your CRM, or vice versa. By inputting your applicant’s requirements we can match them to properties listed on our platform. This works if you have a property that is difficult to move. We can connect you to estate agents that have applicants that they need to place. Our goal is to create a platform where Independent Agents can continue to grow their businesses and we provide them the resources to be able to achieve that without needing to hire a large team.
We partner with Independent Agents and growing agencies because we believe that compared to the bigger corporations, you have the ability to close deals faster and provide the leads with better customer service than premium corporate agencies can provide.
Want to get started? See if your Agency qualifies. Contact us through this form below and we’ll give you a call.