Homeowners who repeatedly return to an estate agent’s proposal are around twice as likely to instruct as those who view it just once, according to data from Acaboom.
The finding is among a series of insights revealed by Acaboom founder Brian Farrell (main picture) in a new video interview with Kerfuffle founder Simon Whale (main picture, top left) examining how agents can improve their follow-up after a market appraisal.
During the interview, Farrell discusses Acaboom’s Behavioural Intelligence technology, developments to its Priority Prospects tool and its AI Concierge, as well as seven years of data showing how homeowners interact with agents’ proposals.
Farrell says the data shows an agent has a 12.5% chance of winning an instruction when a homeowner never views the proposal, rising to 14.5% following one view and around 18% after two.
FOLLOW-UP SIGNALS
Three views are associated with roughly double the likelihood of an instruction compared with a homeowner who views the proposal once.
The figures are based on Acaboom’s analysis of seven years of interaction data, including when proposals were sent, how often homeowners viewed them and whether an instruction was subsequently won or lost.
They have not been independently audited and demonstrate an association between engagement and instructions rather than establishing that additional proposal views cause homeowners to instruct.
In his interview with Whale, Farrell explains how behavioural data can give agents a better understanding of what happens after the valuation appointment and help determine the most appropriate follow-up.
Acaboom’s Behavioural Intelligence brings together signals including which parts of a proposal a homeowner reads and the questions they ask.
WHO TO CALL
Farrell also discusses how Priority Prospects uses AI analysis alongside its existing lead-scoring approach to identify homeowners who may warrant follow-up, while recognising signals that interest may have cooled.
The company’s AI Concierge sits within the homeowner’s proposal and can answer questions using information supplied by the agent, including around fees, marketing and why they should choose that particular agency.
Farrell explains during the interview that the questions homeowners ask can also expose gaps in an agency’s presentation, allowing agents to refine their proposal templates and information.
The full video interview between Farrell and Whale examines how agents can use the technology and behavioural data to make post-valuation follow-up more relevant and identify the prospects most likely to require attention.
Watch HERE.
