Experts
StreetEasy
The goal on this project was to evolve our agent lead generation platform from pay per lead to a success fee model. Agents qualified for the new platform, based on their relevant deal experience within a specific building.
The end result was to facilitate high quality connections between the consumer and agent, which would align StreetEasy with their success, reward StreetEasy for matching them and ensure a great experience. This project included updates to the agent’s tools, new alerts and notifications, marketing material for promoting the new features, as well as updates to the contact box used by consumers.
Role:
UX / UI Design
Marketing Collateral
Other team members:
PM
Strategy
Dev Team
Marketing Team
Platform:
Web
App (Future)
Goal
Onboard 30 brokerages in the first four months while positively impacting the consumer's experience with the agent.
Where we were vs. where we are going
The pay per lead model required agents to pay upfront for the leads they were receiving.
Learnings:
- Contacts were limited to building page traffic
- Low deal eligibility eroded perceived “prestige” of the program
- High-demand from current agents for ad exposure on listing pages
- Tools were only available on desktop
With the success fee model we wanted to track conversion at each stage of the funnel (connected, appointments, offers, transaction) and give agents more opportunities to share their experience and get connected with buyers.
- Agent provides StreetEasy with relevant deal experience
- Agent can opt-in to advertising as an expert on relevant listings pages
- Consumers can connect with the most relevant agent(s) on a listing
- Consumers can provide feedback on the agent / experience at the right time(s)
- StreetEasy can track leads delivered and lead status to transaction
- StreetEasy gets paid when a transaction occurs
The program required the agent’s brokerage to first opt-in. At various stages of onboarding, agents were served targeted messages based on their level of access - brokerage needs to opt-in, brokerage is opted-in, but agent still needs to opt-in and brokerage and agent have both opted-in.
The Agent's Journey
Work done for agents also impacted the consumer’s contact experience.
We tested options where a specific agent was not displayed on the contact box but ultimately went with a version that allowed the consumer to choose - NYC buyers are demanding and like choice. They actively selected an agent 25% of the time when 2 or more agents were presented on the contact box.
Conclusion
- CSAT showed consumers were more satisfied with the agent pairing through the program
- Agents were not thrilled with the prospective cost but feelings were softened once they increased their lead to appointment conversion
"A buyer’s agent with experience in the building is compelling to both the buyer’s agent and the listing agent. As a listing agent, I love it when I’m working with an expert in the building."
"In 3 weeks, I’ve turned a handful of inquiries into 1 sale and 3 new clients. The process in co-ops is very discerning, and I give buyers a level of comfort."
Next Steps
- Automate sold listings identification
- Communication to brokerages to facilitate payment
- Account status and the ability to flag / suspend accounts
- Prioritize agents displayed based on customer satisfaction and performance
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