How much time do you think your team spends on one property: valuing it and marketing it, then arranging and attending viewings? Now multiply that time by the number of listings you have. Consider how it feels to know that only half of those properties will actually sell, and for the other half, all that effort has been for nothing.
The scary truth is that, on average, only 55.5% of listed properties sell. Your team is spending a considerable amount of time chasing dead ends with no payoff. What if we could boost your completion odds? Our expert analysts have developed a tool to do just that.
We’ve got a sixth sense for what sells!
SellScore, is a lead scoring tool for estate agents that assigns a percentage score to every property in the UK, predicting its likelihood of selling. SellScore helps you work smarter to increase your completion rate by matching your team’s effort to a property’s actual potential. You can prioritise your team’s workload and focus their attention on your best bets. Cut hours spent chasing low-potential listings and go big with the properties that are most likely to hit completion.
The tool can also help you determine which fee structure you use. For those properties that are most likely to sell, the traditional ‘no sale, no fee’ pricing model works perfectly. For those listings that will struggle to sell, you can charge upfront marketing fees to protect your agency’s time and costs. Have more transparent conversations with vendors and justify higher fees for tougher listings. More effort means a higher cost to protect your time and resources.
When an enquiry comes in, check the property’s saleability score and decide what resource, if any, you put into managing the lead. You may even decide that the risk of taking on the listing is just too great. Remember that the number of listings is just a vanity metric for success. It means nothing if you don’t sell the property and generate commission.
Ultimately, with SellScore at your fingertips, you can boost your agency’s revenue by closing more and saving time and effort that would have otherwise been wasted on tricky-to-sell properties.
We know the score!
SellScore is built using our whole-of-market coverage of UK residential properties and is informed by our DOMUS database that holds over 360 attributes of UK homes. This is combined with nine years of robust AI machine learning. So, it’s built on real data and powered by AI – an impressive union!
The model has assessed thousands of metrics across four main categories:
- Person: Financial profile and demographic banding
- Location: Local risks and notable issues
- Property attributes: Risk factors that may influence a sale
- Market data: Local sales trends
In essence, SellScore takes into account factors such as life event data, including the length of occupancy and the owner’s life stage. It also looks at property-specific features such as risk factors. The location of the property is also considered, such as the likelihood of a fall through and the supply and demand ratio of the area. All this, combined with market data, shapes the SellScore model.
Let’s settle the score
Just how robust is SellScore?
Well, we tested SellScore on what actually happened in the property market over the last 12 months. Within the top 30% of properties most likely to sell, SellScore successfully predicted 86% of all sales.
Aside from lead scoring, you could also use SellScore for marketing to potential vendors. By doing so, you would only need to target 30% of all the properties in your area to communicate with 86% of the people who would sell their house. This is 2.9 times better than blanket targeting.
Score big, delivered your way
We’ve made it easy for you to access SellScore and can deliver the tool in the following ways:
- API Integration – We can plug SellScore directly into your CRM or call centre management software for smooth automation
- Batch Data Feeds – We can provide secure delivery of line-by-line address data via our secure FTP site.
- Online Search Tool – You can access scores instantly for any property in the UK
For the self-employed agent, you could access the SellScore on our Search tool. Find out before valuation if the property is going to be a tricky sell, then amend your fee structure accordingly. For the larger agents with outbound sales teams, you can make your CRM work harder and improve its efficiency with lead scoring. Prioritise your team’s workload by finding out which properties have a higher chance of selling. Skip the hard-to-sell homes and go straight to the best bets! Halve your effort and double your revenue. We can make top-level recommendations on how to use SellScore to make it more practical for your agency.
Forecasting a win
SellScore can also be combined with our AI predictive model, Forecast. So not only can you identify properties most likely to sell, but also combine this with properties most likely to instruct in the next two months. This gives you more precise targeting, lower marketing costs, higher lead conversion, and instructions that get you paid.
Final thoughts
Some homes fly off the shelf, others drain your time, your team and your margins. With SellScore, you’ll know which properties are a winner or a gamble upfront. It isn’t even just about increasing your revenue; when you take on a listing and can’t sell it, you frustrate vendors, and your word of mouth suffers.
Not every home is worth your time. SellScore helps you spot the red flags before you waste bundles of time and marketing revenue. Stop listing blind – this is the scorecard that every agent needs. We score the homes, you sell them!
Now you know the score, are you ready to sign up? Boost your estate agent market share! Give our Head of Sales, Alex Vernon-Smith, a call to discuss how SellScore can increase your completion rate.
