BREAKING PROPERTY NEWS – 17/05/2022
Daily bite-sized proptech and property news in partnership with Proptech-X.
PRESS RELEASE: BriefYourMarket partnerships take lead generation to next level
Generating and nurturing leads is the backbone of estate agency. According to Richard Combellack, Chief Commercial Officer at BriefYourMarket, this is exactly what BriefYourMarket is about, finding and nurturing new leads via a variety of marketing communications using email, social media and print.
He adds that the acquisition of Yomdel and KnowYourMarket a year ago has enabled the business to take its lead generation and nurturing service to the next level. “Along with using email and social media to generate leads, Yomdel takes it a stage further by creating, and nurturing leads via an agent’s website, booking valuations and appointments straight into the agent’s CRM or diary. Considering that statistically around 55% never make it into an agent’s CRM, having a system in place that ensures each lead is followed up is essential,” says Combellack.
“Where KnowYourMarket comes in is measuring every human touch point a client has with a prospect once the lead has been secured. It is market research made up of mystery shopping, along with some customer feedback to analyse a client’s processes in order to tweak, improve, train and refine for the future. It is about understanding what happens to a lead within your business and then being able to make adjustments to ensure your business is able to improve on its conversion rate. It looks as aspects such as whether your team replies to form fills quickly, mention everything they should on the phone, provide a warm welcome to visitors in branch and keep in communication throughout the process. This feedback will help agents to improve their processes and win more business going forward,” Combellack comments.
He adds that, as an estate agency, understanding your market position and how it is perceived by clients is crucial. This data allows businesses to set objectives that help them achieve higher levels of success and growth in their market. “Having data and statistics about how your customers perceive your business gives you the insight you need to make the right changes to improve your customer experience and convert more leads. If a business is spending money on obtaining leads, it is important that the right processes are in place to ensure that investment is not wasted, and the leads are given every chance to convert,” he notes.
According to Combellack, BriefYourMarket, Yomdel and KnowYourMarket, cover the entire property purchase process when it comes to generating and nurturing leads. He adds that the nurtur.group acquisition earlier this year further adds to this offering. “In addition to the services we provide, we now have links to Starberry who build websites for estate agents, The Guild of Property Professionals who have an array of products that help independent agents convert better, and Fine & Country that helps agents provide the level of service that higher-priced properties demand. As a collective group, we now have everything an estate agent needs to improve every aspect of their business in order to generate and nurture leads, and grow,” he concludes.
PRESS RELEASE: Proptech platform Home Made unveils game-changing embedded finance feature for private landlords
- New fintech feature, Property Wallet, will deliver a better way to let by eliminating expensive upfront fees and is capable of processing payments in the hundreds of millions of pounds.
- London-based proptech promises significant cost savings versus traditional lettings agents, a monthly payment model, and better financial management for private landlords.
LONDON — 17 May 2022 – Property technology platform Home Made has today announced a new embedded finance offering for private landlords, known as Property Wallet. The new feature gives landlords the option of spreading their property marketing and management fees over the course of a tenancy on a monthly subscription basis. This unique offering could also facilitate cost savings of up to 40% compared with the expensive one-off fees charged by traditional lettings agents.
Under the traditional model, private landlords are required to pay thousands upfront at a time when their cash flow is most restricted, due to cleaning, maintenance, and standing costs (such as utility bills and Council Tax) while the property is vacant. Instead, Property Wallet allows private landlords to spread the associated costs of letting across the duration of a tenancy, all while offering the ability to manage property financials through an integrated marketing dashboard.
The news follows Home Made’s recent expansion into Dublin, Ireland after success across the UK in London, Manchester, Liverpool, and Bristol and solves multiple pain points for private landlords.
Property Wallet builds on innovations in the proptech and fintech sectors, providing the supporting infrastructure for tenancy transactions, property management, and the people involved throughout every stage of the lettings journey. Home Made’s monthly recurring revenue model and the subsequent savings made by private landlords can then also be passed on to renters, making the landscape more affordable for all.
Every tenancy will have its own dedicated bank account, enabling tenants to pay their rent into Property Wallet. Once received, the proptech platform calculates what the landlord is due and what needs to be withheld to cover expenses. This will streamline the process of financial reporting for the landlord and give clearer visibility of their property’s performance.
Landlords can log in and see every transaction to know where their money is going and can access all of Home Made’s current functionality as part of its existing dashboard, which Property Wallet integrates into. This includes access to marketing data insights and complete transparency over the lettings process through the asset management cycle.
Founder of Home Made, Asaf Navot, said: “Property Wallet was developed as a natural extension to our existing service and ongoing success in addressing landlords’ and renters’ major pain points. The data we have on the UK rental market clearly showed that private landlords needed a feature like this to help them relieve the pressure on their cash flows and improve the efficiency with which they manage and optimise their finances, so we built a solution. Over time, we will be able to help them optimise their financial performance to take advantage of seasonal spikes, market trends, and consumer behaviours, growing their revenues and passing these savings onto renters.
“Property Wallet is a feature inspired by landlords, created for landlords, and we’re really excited to bring it to market. We have had phenomenal success in the build-to-rent sector to date with our data-driven, tech-enabled offering, and have worked with the majority of Europe’s major property funds including Greystar, GetLiving, and Grainger. With this exciting new feature, we plan to have a similarly transformative impact for private landlords, all while creating a better rental landscape.”
George Dimopoulos, Partner and Co-Founder at VentureFriends, one of Home Made’s leading investors, added: “Property Wallet is a truly innovative solution to some of the lettings industry’s biggest pain points. When Asaf and the team pitched this feature to us, we instantly decided to support its development. Home Made’s utilisation of data is undoubtedly what sets it apart from traditional letting agents as the team uses smart, evidence-based insights to design tech-driven services that make life easier for landlords and tenants by identifying and fixing market issues.”
Home Made is currently engaging around 250,000 tenants, works with more than 5,000 private landlords, and markets more than 60,000 BTR properties across the UK, and soon, Ireland.
If you have a view – please let us all know by emailing me at [email protected] – Andrew Stanton Executive Editor – moving property and proptech forward.