Words: Ashley Rigg
Published: 25th September 2008
Lead auction site to address agent concerns
Recently launched lead auction site,
LeadsandAgents.com has promised to put early teething problems behind it as it steps up its trade marketing efforts this autumn. The business, which launched in late July this year, was criticized recently after an administrative error left a number of poorly qualified leads being sold on the site.
All agents affected have now been compensated and LeadsandAgents.com has put in place a number of safeguards to minimize the chances of it happening again in future. Co-founder Matthew Talmage says they’ve learnt a number of important lessons in their first seven weeks of operation. “We’ve improved our checking systems and importantly we’ve changed the way we reward our staff, as our initial targets were encouraging a focus on quantity not quality. We’ve also added a notes field [that details the telephone conversation with the prospect] so that agents can see their requirements more precisely before making a bid.”
New lead alert service
One innovation that has gone down well is their lead alert service which sends agents an email every time a lead is loaded onto the system that meets their exact requirements. Agents can select by country, region and buyer type and requires no payment or credit card details to sign up. “It’s one of the most popular features of the site,” says Talmage.
Lead price transparency
The business model is interesting as it should give a strong indication of what leads are really worth by country and region. Where buyers are scarce and agents plentiful, prices should be high and vice versa. Average prices have hovered around the £13 mark according to Talmage but many leads have sold for £5 while the highest went for £32.50 in Brazil.
Early days
Overall, Talmage says he’s pleased with the start they have had but he admits it’s early days. Nigel Bailey from Red Sea Developments, who recently tried the site, concurs. “The concept is great but it is really too early to judge. It’s new, so everyone is still learning,” he says.