Real estate technology disrupts lead generation for mortgages

by Julia Corderoy31 Mar 2016
A tech platform designed for the real estate industry is now helping mortgage brokers with lead generation after a successful pilot with a leading mortgage broker network.

The Australian-developed marketing automation platform, ActivePipe, is a relationship automation and predictive data platform that was originally tailored towards the real estate industry and released in mid-2014. To date, the software claims it has been taken up by over 70 real estate networks across the country.

The platform works by using behavioural and interactive-based algorithms to identify which of an agent’s clients are ready to buy and sell.

However, the software is now targeting mortgage brokers as a lead generator. ActivePipe’s new mortgage lead generation module provides mortgage brokers with direct mortgage consultation requests. 
ActivePipe CEO Ashley Farrugia says the software allows brokers to take advantage of many cross-marketing opportunities.
“ActivePipe provides real estate communication recipients with ‘one-click’ opportunities for re-mortgaging or facility capacity analysis, along with cross-channel marketing opportunities such as insurance and vehicle finance,” he said.
“Obviously, the best time to promote mortgages is while someone is actively looking in the property market.”
The results of a recent pilot of ActivePipe with Loan Market brokers has exceeded expectations, Farrugia said.
“Within a three-month period, ActivePipe generated over 3,500 mortgage leads and delivered over 550 mortgage consultant bookings for LoanMarket. This was based on only 20% of the group’s real estate offices being on our platform over that period.
“What’s more, the cost of our lead generation for mortgage brokers is significantly less than 10% of the typical industry cost of between $500- $1,000 per lead.”
Ray White Group national technology manager, Jason Alford, says he has received overwhelmingly favourable feedback from the offices that had participated in the three month ActivePipe pilot. Loan Market is a part of the White family group of companies, which includes Ray White. 
Following the successful pilot of ActivePipe, Alford says they are now planning to roll-out the software across the group’s entire network of 1,000 offices spanning Australia and New Zealand by the end of the year.