Agentology, a lead qualification service and referral network for real estate agents, raised $4.5 million to invest in more technology and to scale its service to the country’s top agents and teams. The financing was led by Freestyle Capital, with participation from Entry Ventures Group and OurCrowd, attracting advisors including Allan Dalton, former president and CEO of Realtor.com, and Steve Rodgers, former president and CEO of Prudential California Realty.
Agents are 21 times more likely to convert cold leads into clients if they engage those leads within the first five minutes of those leads reaching out. However, most agents do not have the bandwidth to make that happen. Agentology’s engagement team responds to agents’ leads within five minutes, 24/7, via phone, text, and email, teeing up hot prospects who are a fit. Much of the $15 billion agents spend on advertising is wasted as 45 percent of the leads, on average, never receive a response; often, when they do, it’s too late — the customer has selected another agent.
Agents who use Agentology are more productive, spending less time while making more money. In addition to following up on leads immediately, Agentology can also refer leads that agents simply don’t want or cannot handle to a trusted agent in the Agentology network, enabling the Agentology agent to manage and track the entire process and then pay the referring agent a 25 percent referral fee at closing. Twenty percent of the leads that Agentology qualifies for its partner agents are referred out. From its referral network alone, Agentology is on track to close $1 billion in transaction volume in the next 12 months.
David and Avi Tal originally started Agentology as lead generation for real estate agents. At the time, they exclusively worked with top teams and agents because the company’s success was tied to agents’ performance and deal closings. They’ve attracted many of the top 10 real estate teams (ranked by REAL Trends) in almost every major market. With their proven model, they’ve already closed more than $600 million in transaction volume with their agent partners and counting. Those same top teams and agents noted that Agentology’s leads were their best-converting leads and asked Agentology if it would be willing to screen their leads from all of their other lead sources, such as Zillow and Trulia. Agentology experimented with its agents, and the process was successful for all involved. This is what ignited Agentology’s current business model.
“I spend a lot online to generate leads but don’t have the support staff to quickly respond and separate the hot prospects from the cold. Many times, I am throwing money down the drain,” said Mack Alsaidi, a top broker with Coldwell Banker. “Now, Agentology responds immediately to all my leads, screens them based on the criteria I give them, and the great ones are immediately transferred to me.”
Agentology concierges are trained to ask all of the questions real estate agents want to know about their prospects, like mortgage status, time frame, neighborhoods of interest, and motivations. “We’re not just qualifying leads. We’re enhancing them,” says David Tal, CEO.
“Ten years ago, clients met an agent face to face at their offices,” Tal said. “Today, they’re meeting agents online by filling out forms. Technology has been great for generating leads, but it’s also eroded — if not destroyed — the human connection. Agentology is bridging that gap. We’re enabling real estate agents to create a human connection with their online leads immediately. It’s a better experience for the consumer, and it’s good for business.”
Agentology has tripled in size in the past year alone, with thousands of agents using its service and referral network monthly. They claim Agentology gives them “an unfair advantage” by helping them convert a much higher percentage of their online leads, which are not always exclusive. Some agents have let go of their in-house inside sales associates and replaced them with Agentology’s service, which is a fraction of the cost of a traditional ISA. Additionally, the service’s agents are highly trained and work 24/7.
“Agentology has developed a world-class system that both produces and protects present and future relationships between real estate companies, teams, and individual agents with their buyers and sellers,” said Allan Dalton, former president and CEO of Realtor.com.
Agentology is the most powerful lead qualification service for real estate agents in the U.S. Agentology gives agents the power of having their own inside sales team to qualify and convert their cold web leads into hot prospects and help them refer and monetize the leads they don’t want or can’t handle. The company is a pioneer in the growing service category of inside sales assistants, concierges, and other lead qualification services. Agentology is working with thousands of top agents and teams and growing rapidly.
Learn more about Agentology.