June 3, 2013
Online consumers have cultivated some horrific mindsets as it relates to instant gratification. When we make a purchase on Amazon, for example, we are rewarded with an instantaneous email reply from the company.
This mentality fails to carry over into all aspects of the online world, though, specifically in the real estate sector. Property buyers want to have their interests heard immediately, but real estate agents are busy people and spend the majority of the day driving around and showing properties.
So Sebastian Traeger and Rusty Klophaus co-founded FiveStreet to solve what they identify as the “five-minute problem” for real estate agents.
“Agents typically have about five minutes to respond to an online lead before the interested party walks,” explains Traeger. “At the end of the day, we thought, there has to be a technological solution to this problem.”
When a lead comes in, FiveStreet instantly notifies and responds to both the interested buyer and agent. From the buyer’s perspective, they are happy to see the personalized text and email within the five-minute window.
The agent gets a bit more from FiveStreet’s capability, since it was designed specifically for them. Agents are provided conversational points on the property and the interested party through publicly available financial data, social networking profiles, and property statuses.
Agents, then, have the option to either accept or pass on the lead. If they are otherwise preoccupied, they can forward it to another team member, allowing their company or agency an opportunity to reap the benefit of the customer.
FiveStreet is simple; it only takes about 15 minutes to set up and requires effectively zero training. The agent consolidates all of their leads, regardless of the site of origin, to be notified immediately when a potential buyer shows interest in a property.
Websites like Zillow, Trulia, or Homes.com can all be aggregated so agents do not have to check each one individually. FiveStreet was also designed for seamless mobility with no app downloads, since it utilizes text messaging and emails.
“You just do not see many people utilizing print ads for real estate options anymore,” explains Traeger.
Traeger and Klophaus took their concept into the community and got their hands dirty, effectively winning their first 100 clients via hand-to-hand combat. By maintaining a narrow focus on the five-minute problem, the FiveStreet team will be able to help countless real estate agents.
And the FiveStreet website sums it up succinctly and beautifully: “Your leads will think you work round the clock.”
FiveStreet was featured at Tech Cocktail’s DC Mixer & Startup Showcase on May 15th.
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