Two graduates have launched a proptech company that uses artificial intelligence to engage with visitors on estate agent websites, aiming to convert browsing activity into qualified leads.
Sam Sykes and Tom Heath founded Yield after identifying what they describe as low conversion rates on agent websites. The pair stated that the majority of website visitors do not make contact with agents, despite generating significant traffic.
Website conversion challenge
According to the founders’ website, the company addresses what they characterise as a timing issue: potential clients browsing properties outside business hours without the ability to engage immediately.
“Visitors browsing at 9pm, comparing options at 2am, ready to enquire on Christmas Day. But no-one there to have the conversation,” the company’s website states.
The software uses AI to initiate conversations with website visitors, collecting information about potential buyers and sellers. Heath noted that estate agents typically have limited data about the thousands of people who visit their websites.
Data collection and lead generation
The system provides agents with chat transcripts following interactions with website visitors. According to the company, agents receive 17-18 data points about individuals who have engaged with the AI tool on their websites.
Yield also aims to generate leads for related services including valuations, mortgages, conveyancing and property management.
The company reports that 50 estate agency clients have signed up to the service. Yield is offering free trials to prospective customers in the estate agency sector.
The launch comes as the property industry continues to explore AI applications for customer engagement and operational efficiency, with various proptech firms developing tools to address conversion rates and lead qualification challenges.
