Online estate agents Yopa reported a 38% increase in revenues during the second half of 2019.
The online agent, which took seventh place on Rightmove last month for the highest number of listings, reported a 40% decrease in costs year-on-year with a “record low” customer acquisition cost.
Yopa also reported a 43% increase in income per listing, and agent tenure increased by 29%.
Agent earnings also increased by 74%, and the firm said over 9,000 new buyers registered with the agent last month.
Grenville Turner, Yopa chairman, said “We’re delighted to see that the strides we took in the second half of 2019 are turning into real results.
“Relaunching our Pay Later product whilst gearing up our No Sale No Fee bundles gave our customers the greatest possible choice in terms of fair fees and helped us improve our share of listings.”
He added: “By introducing a bespoke mortgage proposition, Scout Financial Services, improving engagement with our legal services and successfully implementing key Contact Centre tech, helping us have more conversations with more customers more often, we have surpassed personal bests for revenues from both instructions and ancillaries.”
Turner said Yopa’s performance in January was also “very encouraging”, and added: “It’s pleasing to see that revenues for our business partners and Yopa itself are ratcheting up whilst we continue to deliver an award-winning service to our customers.
“Further, our business partner base is both increasing in tenure and expanding, and agent earnings are up 74% year-on-year.”