Real estate firms rapidly adopting new lead gen tool

Remodeling network Porch has unveiled a second tool that brokerages, website providers and listing search services can use to augment listings with renovation project history reports, and squeeze more leads out of real estate websites.

A number of leading real estate companies have already adopted the widget, highlighting the appeal of the latest lead-capture feature to become available to real estate websites. AddressReport is another property report provider that recently fashioned a lead generation product for real estate firms.

Prospective buyers that visit listing pages equipped with Porch’s new widget may click the add-on to pull up a Porch report detailing the listing’s remodeling project history.

Companies that embed the widget on their websites can gate the property report behind a form that requires a user to enter their contact information. They can also add their branding or a real estate agent’s branding to the reports.

The integration “creates the ability to drive meaningfully more leads” through a real estate search website, said Porch CEO Matt Ehrlichman.

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How Real Estate Uses Big Data to Track Clients

To target prospective clients, tech-savvy agents are buying data subscriptions and teaming with startups

Jon Hoefling, left, with his listing agent Brett Jennings in Mr. Hoefling’s home in Morgan Hill, Calif. Jason Henry for The Wall Street Journal Jon Hoefling, left, with his listing agent Brett Jennings in Mr. Hoefling’s home in Morgan Hill, Calif.
Jason Henry for The Wall Street Journal
Photo: Jason Henry for The Wall Street Journal

Sitting in bed at 1:40 a.m. one morning last November, Jon Hoefling was thinking about selling his 4,300-square-foot home in Morgan Hill, Calif. While browsing Facebook on his phone, he clicked on a real-estate ad offering to estimate his home’s value. His future listing agent, who paid for the ad, was waiting.

Mr. Hoefling, the 50-year-old owner of an office-furniture resale company, had been targeted for the ad—along with 1,500 others in California’s Silicon Valley area—by an algorithm that identified him as a likely home seller. The telltale signs: Mr. Hoefling has lived in the home for more than 15 years, and his home’s market value is high for the area. Most important, his youngest son will soon leave for college. Empty nesters might as well wear a bull’s-eye.

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