Zoopla has unveiled a new sales progression portal for its real estate agent members, enabling them to track sales and earn more revenue.
It provides real-time updates to agents covering 15 key milestones during the sales transaction process, including when a mortgage offer is issued and when the legal process has been completed. It also provides agents with visibility for all sales in their pipeline.
Zoopla released the product to address agents’ problem that progressing and chasing transactions takes around 60% of their time.
The product uses technology to track milestones by integrating with conveyancers’ back-office systems. Agents can refer conveyancers when they are instructed to market a property, so they can provide accurate information at the outset, enabling agents to take control of the chain and improve the process.
Zoopla’s housebuilder customers have been able to receive a new home version of the progression portal for the last 15 months. Zoopla claims this has reduced cancellations by 24% and the time to exchange by 37%.
The progression portal also potentially lifts and diversifies revenue for agents through its partnership with Mojo Mortgages, which offers referrals of up to £400 to agents who refer a buyer or viewer to the broker, which currently sources deals for 95% of all applicants. Agents can also earn £100 by referring a buyer or viewer to the progression portal’s network of conveyancers.
“With the lack of supply continuing to be an ongoing challenge for estate agents, this new innovation will support our customers by not only freeing up time for them to focus on new business – but also giving them the opportunity to generate more revenue for their business,” said Andy Marshall, Zoopla CCO.