How much are lost leads and unused tech costing your agency?

A new benchmarking service has launched to help estate, letting and block management agencies assess the cost of inefficient processes, underused technology and lost leads.

The Property Agency Benchmark has been developed jointly by property consultancy Olliverr. and marketing agency House of Marque.

The service assesses an agency across five areas, examining operational processes, technology use, marketing and lead handling before estimating the financial impact of identified inefficiencies.

It is also intended to help agencies considering investment in new CRM systems or other technology determine whether existing systems are being used effectively and assess the potential return from further investment.

Agencies taking part initially complete a questionnaire of around 20 questions, using information the businesses are expected to already hold.

Olliverr. founder Sam Olliver then assesses the operational side of the business, including how work moves through the agency, where delays occur and how effectively existing technology is being used.

House of Marque’s Adam Graver and Lucy Collinge assess the agency’s marketing, including how prospective customers find the business, its messaging and how enquiries are handled before reaching members of staff.

Participating agencies receive a combined report within 10 working days. This includes three priority actions, estimates of their potential financial impact and a projection of the effect changes could have over the following 90 days.

The process concludes with a 45-minute call involving representatives from both businesses.

The Property Agency Benchmark will cost £1,000 for the first seven agencies to use the service, increasing to £1,250 thereafter. The fee can subsequently be credited against further work commissioned from either Olliverr. or House of Marque.

“Every agency we’ve ever looked at is paying for at least one thing that isn’t earning its place, a tool, a subscription, a process nobody questions anymore,” said Adam Graver, co-founder of House of Marque. “The Benchmark doesn’t guess which ones need to go. It shows you, in writing; our average audit at House of Marque saves agencies £8,000 straight away as well as helping make decisions on what to do with the elements that stay a part of the mix.”

Sam Olliver, founder of Olliverr, commented: “A growing agency is a double-edged sword. More instructions, more revenue, a business worth more than it was last year. The catch is that the way of working that got it here is rarely the one that carries it through the next stage. What was manageable when the business was smaller becomes a strain as the workload grows, unless processes, systems and automation are working together underneath it, so the team aren’t overwhelmed and clients get the same service as you grow.”

He added: “The capacity is often already in the business, sitting in half-used tools and manual steps that should be automated. The Benchmark shows you where that opportunity is and puts a figure on it, in cost saved and revenue added, so you can grow with the team you have and keep the clients you’ve worked hard to win.”