One in five ValPal leads sell on the Land Registry

by Steph Rady

Stop the press! You read that correctly, one in five ValPal leads go on to sell on the Land Registry!

Data insights show that the average sales cycle from the point of requesting an online valuation (via ValPal), to completing on the Land Registry is 220 days, while properties in the W postcode sell the fastest in just 198 days.

62 days on the market according to Rightmove, and a whopping 135 days for the finance and conveyancing process according to data from Twenty CI.

This leaves just 23 days for the seller to consider instructing an agent after their initial online valuation enquiry.

We also discovered by cross examining addresses generated in the last 2 years via the ValPal tool, with those that completed on the Land Registry in that time and found that 18.5% of all ValPal leads actually sell and complete!

What does this mean?

There are three key takeaways from the data;

1. The finance and conveyancing process significantly delays the sale
2. Sellers on average are taking just 23 days to instruct an agent after receiving an initial online valuation, meaning speed to lead is vital
3. Agents using ValPal have a one in five opportunity to convert leads into actual sales

 

What should agents do with this information?

The PUFF Strategy – Pick up the f***ing phone as our Director Craig Vile so colourfully puts it! You have a one in five opportunity with every ValPal lead you generate to make a sale, that means you need to take advantage of being the first agent the seller has reached out to.

Getting on the phone to ValPal leads within the first minute can increase your chance of conversion by up to 391%, whereas leaving leads idle for just 5 minutes can decrease the chance of conversion by a whopping 80%.

“We understand that it is not always possible to phone enquiries immediately in a busy office, or while out and about. So, to help agents with ‘speed to lead’ we’ve launched a new free upgrade to The ValPal Network called Connect. Connect instantly calls the agent when a ValPal lead is generated and immediately connects the agent to the prospective seller,” says Vile.

You can see the full data insights page on The ValPal Network’s website.

And find out more about Connect, here.

 

For more information or assistance generating leads and maximising sales, get in touch:

https://www.valpal.co.uk/contact-us

020 8663 4930

team@valpal.co.uk