Lockhop utilizes a bounty system that incentivizes buyer's agents to show homes by offering financial rewards for each qualified showing, thereby increasing property visibility. This approach addresses the challenge of low showing rates by driving more traffic to listings and providing valuable feedback for pricing and marketing adjustments.
Funding
Funding not disclosed
Founders
Product
Problem
Real estate listing agents often struggle to attract buyer's agents to show their properties, resulting in low showing rates and hindering the opportunity to gather feedback for pricing and marketing adjustments. This lack of visibility can lead to longer listing times and potential price reductions.
Solution
Lockhop is a platform that incentivizes buyer's agents to show properties by offering financial rewards, called "bounties," for each qualified showing. Listing agents can set these bounties to increase the visibility of their listings and drive more traffic. Buyer's agents earn these bounties by booking showings through the platform, completing the showing, and submitting feedback. This system provides listing agents with valuable insights to adjust pricing and refine marketing strategies, while also providing buyer's agents with an opportunity to earn additional income.
Target Audience
Lockhop primarily targets real estate listing agents looking to increase property visibility and buyer's agents seeking to earn additional income through property showings.
Features
- Bounty system to incentivize buyer's agents to show properties.
- Platform for listing agents to set and manage bounties.
- Booking system for buyer's agents to schedule showings.
- Feedback submission process for buyer's agents to provide insights on properties.
- Listing performance analytics for listing agents to track showing activity and feedback.
- Subscription service for buyer's agents to receive daily updates on bounties in their area.