A Boom in Real Estate Tech
Helping People Sell Homes
It keeps happening.
Tech startups keep disrupting the status quo of the real estate market. The best of these companies are simplifying life for buyers and brokers, agents and sellers. Mindbox has teamed up with many of these startups and our favorite partner might be HVL.
Here’s HVL’s story in a nutshell:
Before they put their home on the market, people want to know what it’s worth. They also want to find real estate agents who can sell their home for the best price. See footnote 1.
The creators of HVL saw a way to connect these people:
Step 1: Develop SaaS that helps real estate agents create websites that estimate the value of a seller’s home.
Step 2: When sellers come across these websites, offer to trade a free estimate for their contact info .
HVL put this idea to the test, and quickly attracted hundreds of users. Jackpot.
How Far Could This Thing Go?
The prototype obviously worked, but the founders of HVL knew it wouldn’t scale. They wanted to rebuild the software with a lean but muscular codebase that could keep up with the potential of their idea. They also wanted to make it easier for users to sign up.
This made sense: Easier signups meant more signups.
And so, they reached out to Mindbox.
Constant Improvement, Constant Growth.
We decided to develop the new code for HVL in iterations. This way, the company could transition users to the new interface whenever they felt comfortable.
HVL noticed that way too many users left their trial when the software asked them to enter a domain. They must have been thinking, How is this free?
Once we started providing a free subdomain to everyone that signed up, people stuck around.
Seven months into version two, real estate agents were staying with their trials of HVL thirty-five percent more often, and that number continued to grow.
We felt like we were fueling an idea that was about to find its moment.
What did agents want? Simplicity. Once we stopped asking them to enter a subdomain, trial completions went up thirty-five percent.
Smile, Eye Contact, Handshake.
With the new version of the app in full effect, we set out to build a new marketing site. How could we help real estate agents to quickly see the value of HVL? What could we do to streamline the process of signing up?
We crafted a new landing page that favored You over Us. In other words, all of our language cast the agents as the hero of this story. The HVL software was the helper. To reach out for help, users could sign up with an email and a password in one step. We’re talking five seconds.
HVL continued A/B testing to refine the interface. The new site generated ten percent more leads. During the first seven months of version two, over a thousand people had signed up. These results were a milestone, but the founders of HVL saw an opportunity to go further.
Reuse and Reinvent
The founders realized that tons of people needed killer websites for generating leads. Their market began with real estate, but it branched out in so many directions. Now, they’re working to test that theory.
Wait. We love this part. This is the big thing that this project makes clear:
Now that HVL has developed their software, delving into new industries will cost a fraction of the price.
When you write code, you’re not just building a single website or app. You’re creating an asset that you can use over and over.
Let’s talk about the assets we can build together to invest in the future of your business.