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Fivewalls is a website that matches homebuyers and sellers with local agents.
Platforms: Browser-based; mobile-optimized
Ideal For: Established agents needing to supplement or augment lead generation
Top selling points
- Lead quality
- Appeal to web-savvy buyers and sellers
- Agent ranking
Top concerns
- Success ultimately depends on fivewalls’ ability to pull in consumers
- Currently only active in a few Canadian markets
What you should know
Fivewalls is a simple way for interested consumers of real estate to track down a highly rated local agent with specialties specific to their needs.
Users are asked to complete a short “quiz” on why they’re buying or selling, or if they want an agent for both.
Buyers
Fivewalls wants to know what their buyer users are looking for in an agent, such as city-wide knowledge, guidance and advice, negotiating skills, award winning service, multi-bid expertise, or high transaction performance.
It then asks for a timeframe, property type preferences and, of course, price range.
Sellers
When selling, customers are asked questions about estimated home worth and what marketing tactics they’ll expect, such as open houses, staging, professional photography, magazines or internet marketing.
Market info
Finally, fivewalls’ location search uses a text-entry lookup, meaning its database is loaded with specific neighborhoods and hot ZIP codes.
The answers to these questions correlate with the backgrounds of agent members.
Quality matchmaking
Fivewalls then ranks the best agents in its system according to how tightly a consumer’s need overlaps with an agent’s expertise.
Those agents making the grade are provided with a thorough profile page that highlights transaction records and customer testimonials accompanied by their fivewalls ranking.
Fivewalls takes special care to ensure their members are exceptionally qualified.
Fivewalls also films a short video bio for the agent.
Only those agents with an average rating of 4 stars can remain in the mix for recommendation, which is earned initially after membership by asking previous clients for their opinions on service.
Fivewalls takes special care to ensure their members are exceptionally qualified to meet the needs of their customers.
As a result, the company is growing very deliberately, having launched this month in Toronto after debuting in 2015 in Quelph, Ontario.
The company is paid a 25 percent referral fee when a sale closes. Plans call for an annual membership fee to begin in 2018.
Have a technology product you would like to discuss? Email Craig Rowe.
