A new model for property listings is well overdue. There are simply too many disparate portals at the moment, charging agents left, right, and centre. And this approach just isn’t sustainable in today’s volatile and competitive marketplace.
But help is at hand, and a game-changing new intelligent search engine is now being launched. Just what estate agents have been calling out for, the engine lists all properties, in real time, by every estate agent across the UK. A hugely exciting development, the search engine - which is the property equivalent of Google - is set to transform property marketing as we know it; helping estate and letting agents to boost profits and reduce their monthly costs.
The new search engine was formed in collaboration between two successful PropTechs: v360 Limited, the company behind leading property marketing specialist Houseviz, and Indian company Proptyle Limited. v360 Limited was originally conceived at the Manchester incubator building at Manchester University some 10 years ago.
To take the development to the next level, and roll it out to other English speaking countries, the partnership behind the engine is now seeking investment from interested individuals and agents via a special purpose vehicle - Housstech Limited - that will have EIS/SEIS status.
Helping estate agents
The ground-breaking search engine - which automatically links to listings on estate agent websites using an intelligent search bot - will be free to use. And because it is a search engine rather than a portal, it does this by using information that is freely available in the public domain. So there are no copyright issues and the engine doesn’t infringe on any existing portal or website. It has been strenuously and legally checked to ensure total compliance.
As listings are pulled directly from agent websites, estate agents will no longer have to pay third-party portals to list their properties. There is no need for the agent to register to be included in the search, or to upload and integrate listings manually.
Crucially, this approach will help estate agents to reduce their monthly advertising and administrative spend while offering increased web traffic and lead generation by directly connecting property hunters and vendors to agents. Ultimately, giving control of their websites back to the agents.
Helping buyers & vendors
What’s more, the engine is set to deliver a better user experience all round, by providing buyers with the ability to search and register for alerts on residential properties by complex parameters and keywords, which will unique to the market. And, because it pulls through and automatically updates listings, at multiple times during the day, this pioneering new model will only deliver accurate and active results.
With details of every agent across the UK, vendors can search for an estate agent, with transparent information on what they offer (e.g. virtual tours, immersive photography, etc.), and how other buyers have rated their service.
How does it work?
While existing portals are killing agents by charging exorbitant fees to list their properties, the new engine turns this model on its head. So, rather than charging estate agents to list, the engine makes revenue by charging a modest fee for access to a range of additional, and entirely optional, integrated property marketing services from Houseviz. Services that are very much in demand from consumers but rarely mentioned by the agent.
This approach will help those agents who deliver excellent customer service to thrive, upsell, and in turn, help the industry as a whole to improve.
“There are so many disparate web sites springing up that agents and consumers are totally confused in what direction to take. And until now, any new solutions rely on data being submitted which is just a new way of doing the same thing. The search engine approach does something truly different, and is akin to Google in terms of functionality which is really exciting. I’m looking forward to seeing it transform the market.”
Leading property consultant, and seasoned pro in the sector
How can you get involved?
The search engine is currently in the later stages of development and is now seeking investment from interested individuals and agents. In particular, we are keen to talk to web developers, agents, and other corporates who want to get involved, take this landmark model to the next level, and roll it out to other English speaking countries. All enquiries should be made to Peter Fernandes, at firstname.lastname@example.org.