Zoopla says valuation leads are up 42% in just a month thanks to the launch of its new ‘My Home’ marketing campaign.
The property portal reports that there has also been a 12% uplift in visitors tracking a home and home values sessions are up 370%.
With high sales volumes impacting the supply of homes for sale, and Zoopla’s latest House Price Index revealing that stock levels are down nearly 30% in April, the aim of My Home and Zoopla’s marketing campaign is to turn the 42% of UK households who are starting to think about selling into active sellers.
During the campaign, Zoopla has highlighted the important role agents have to play in nudging homeowners to sell, with its inaugural Hidden Equity survey finding that the average homeowner undervalues their property by an average of £46,305.
Zoopla says that by educating homeowners on the true value of their property by providing an expert market valuation and personalised guidance, agents can support homeowners on how best to sell their home.
Andy Marshall, Zoopla’s chief commercial officer, said: “We’re delighted to see the strong results My Home is already driving for our customers, particularly when it comes to valuation leads, which we know are gold dust for any agent.
“Our multi-million pound investment is all about supporting agents to capitalise on the buoyant market and the initial results show we’re off to a great start with agents already reaping the benefits.”
Comments (9)
As soon as a property is created or updated in WordPress, the request will be sent to Zoopla so that the data displayed to the user and the site will always be synchronized in real time. I’ve been using these features for a very long time. My project uses the full functionality of all the time https://qyto.jp/bonus/ . I understand why there was a growth of clients, their developers make high-quality architecture, so the speed is high
I wonder how many agents use RM, OTM, Zoopla and other agents data as a pre-market appraisal valuation tool …. just about everyone worth their salt over the years.
Zoopla have never managed to get their ‘Valuation Tool’ correct and after all this time they still haven’t found someone in ‘IT’ who knows what they are programming and the discrepancy in valuations can cause many a headache for agents. Time Zoopla dropped the idea, it doesn’t work.
the problem with advertising platforms getting to **** (male chicken) sure about their marketing claims is when they cross the line.
Zoopla holding out to have expert knowledge on property prices takes them from an advertising platform to liable for the information they provide and which might be relied upon by a consumer.
“We know what your home is really worth” is fairly clear, definitive, reassuring and certain, they are claiming to know. Although Zoopla are not an agent telling consumers they really know and providing a means to look up a definitive valuation crosses the line and makes them liable for the random number they’ve generated.
I have 3 properties I use to test valuation systems. 2 that I own and one that doesn’t exist, results – £330k versus a recent agent valuation of £650k ask up to £700k. £750k (high confidence) versus £300k likely and the one that is no longer there is still worth £500,000
I will be really surprised if that claim is not subject to an ASA ruling
As an agent I often test these instant val tools that crop up on agents’ Facebook pages.
Over the past weeks using my flat which local agents who know me well estimate value between £375 – £395K, I have had figures of £150 – £165k, £185 – £190k and another just over £200k. Only 1 agent has followed up with a call, she was surprised that their tool was so far out and wanted to come and see for herself at which time I came clean as to who I am and that I was just testing the system; her remark then was that it normally goes the other way and vastly over values! The other 2 agents didn’t even bother to make contact??
Where agents have random number generators there is always the view that they are the ice-breaker to start a conversation and immediately have empathy with a prospective vendor simply by agreeing how rubbish the valuation systems are.
Anyone offering any advice on value ought to be aware of the risks associated with duty of care and skill. In a market moving as fast as it has been, under valuation is a real possibility.
“Zoopla knows what a property is worth”
Erm… no you don’t.
I am thinking of removing our “Online Valuation Tool” to the point that when you click on the service, a message appears saying; “We would rather not let the computer guess your property price! so if you are thinking of putting your property on the market call us and let a human give you the very best advice! – If you are not moving, and just curious, call or email us for a desk top valuation (no visit required), which is proven to be more accurate than a computer guessing”
Oh, the “how much is my property worth” tool. More issues caused than its worth.
Roll back 10 or 15 years and Zoopla used to promote the same thing when switching brand from Findaproperty. Agents arrive at sellers to give valuation, to then be greeted with being told they were wrong on the value, as Zoopla says its worth X.
Just run a similar exercise on my address, could not be more wrong.
When will the portals learn. All us estate agents want you to do is list our properties and allow buyers to enquire through you. Let us do the valuations, offer mortgages, etc Is this too much to ask? After all you do charge us too much.
Was the “value” of your home £46305 more than you were expecting by any chance, bestandfinal51…?
Ha!
Not quite, but it is the best on the street!