Zoopla’s chief operating officer, Rich Hayes, has sent to a letter to all estate agents signed up to its customer base, which provides an overview of the property portal’s key focus areas for the remainder of the year, alongside what they are doing to drive ROI for its customers.
The move comes less than a week since the company reported a pre-tax loss in its latest financial results, further widening the gap between the property portal and industry leader Rightmove.
The Silverlake-backed firm continues to grapple with what it calls “challenging market conditions,” including the need to write down the value of Yourkeys – a platform acquired four years ago to support property developers.
The company says annual revenue fell by 7% to £84.17m, down from £90.45m in 2023. Zoopla attributed the drop to what it described as a “rationalised product set,” following the decision to phase out certain legacy advertising offerings.
Here is the letter from Rich Hayes in full:
Dear Customer,
Over the past few months, many of you have told us the same thing: what matters most is getting quality leads and a strong return on investment. That’s exactly where we’re focusing our efforts, giving you the tools to reach motivated homeowners and convert more instructions.
Here are three ways we’re helping agents like you unlock greater value:
1. More vendor leads from a growing audience
We’ve invested heavily in building the UK’s biggest audience of motivated movers who are tomorrow’s vendors. Over 120,000 new homeowners join every month, and more than 4.8 million now track their home value and potential demand with Zoopla. This means more potential sellers for you, and more vendor leads to win instructions.
2. Prospect Plus – worth £2bn in sales commission
Our new Prospect Plus product connects you directly with high-intent sellers, representing more than £2 billion in sales commission. Early adopters are seeing great results, with a 43% conversion rate from lead to instruction. Don’t miss out on your competitors winning that instruction, and join the hundreds of branches already taking advantage of Prospect Plus.
3. AI that drives more consumer engagement
We’re testing AI tools to boost visibility for your listings. Experiment results show an 80% increase in views, meaning more exposure for your brand and more enquiries that convert into leads. And this is just the start, we’ll continue rolling AI out where it delivers the most value for agents.
We’re committed to being a vital marketing partner that helps you grow your business from buyers, renters, vendors and landlords.
To find out more and see how these tools can work for your branch, please visit Zoopla for Business or speak to your account manager.
And if you’re at The Negotiator Conference and Awards in November, come and see us, we’d love to talk about the exciting journey we’re on together.
Best regards,
Rich Hayes
Chief Operating Officer
Zoopla
EYE NEWS UPDATE: Zoopla slips to pre-tax loss in ‘challenging’ year
