The system allows the intermediary to bid for leads in any particular area of the country and see the bids being made by other intermediaries, allowing them to gauge the market value of that specific lead.
The system also allows the broker to see the source of the lead, meaning they can judge whether the lead has come from a reputable agent.
Vanessa Blount, head of Paaleads.com, said: “This has potentially major ramifications for the industry. I’d claim this development is ‘revolutionary’ but ultimately that will be for others to decide. However, it is irrefutable that this degree of price flexibility, combined with absolute transparency, is unique and a first for the industry.”
Paaleads is currently in negotiations with a number of other lead sources to build up a database of lead agents for brokers to acquire their leads from, with two already confirmed for launch in the near future.
It claimed because the broker can pick and choose which source they receive their leads from, firms are forced to assure good quality leads or risk receiving no intermediary business.
Blount added: “As you have the transparency of the source being clearly displayed, you know where the lead has come from and if the adviser is not happy with the process they have gone through with that source, they won’t use it again. There is no need for any kind of regulation as the transparency of this process proves the legitimacy of the lead and the source.”
David Mead, managing director at Flexible-director.net, commented: “This will enhance what is already a strong proposition from the firm. The extra transparency can only help if you are targeting a specific area, so from a mortgage intermediaries point of view, it can help you budget more carefully.”
