Predicting when consumers are ready to sell their houses could save REALTORS® both time and money.
RealAgile.com uses predictive analytics to help REALTORS® determine which consumers have a high probability of moving, according to Ed Neiman, executive vice president of marketing and sales for RealAgile. The patent is pending on the product.
“We have an innovative product that uses 270 different sources of information, from demographics, MLSs, psychographics and more to rank the highest probability of when a property owner will be ready to sell,” Neiman explained. “In our ‘MoveScore,’ we rank properties in a geographic area based on the probability it will be offered for sale within six months.
“When we go back in 18 months to test the accuracy, we find we’re capturing 40 to 60 percent of the MoveScore list,” he added. “Our product allows REALTORS® to focus on people and properties that have a high probability of moving which saves the REALTOR® time and money. Most of all, it makes them relevant to the consumer. They’re not spending a lot of marketing efforts on people who have no probability of moving at all.”
The company also allows REALTORS® to rank their own sphere of influence by taking advantage of the MoveScore analytics. “CentreScore provides a totally new way to find the potential sellers and buyers that are hidden in a REALTOR’S® sphere of influence,” Neiman said.
Bob Bohlen, a real estate coach with both Preview Properties in Brighton, MI and Signature Properties in Andover, MA, said preliminarily RealAgile looks interesting.
“While it’s in the early stages, we received a list in November, sent a mailing in December and got an eight percent response rate from the mailing, which is about 16 times more than normal,” Bohlen said. “It seems to be a good tool and if it proves as successful over the next six months as it has starting out, it could be a real asset.” He said RealAgile is one of three systems his company uses to generate leads.
Neiman, who worked in real estate for 25 years and helped start ZipRealty, said, “If you’re prospecting, cold calling, sending out postcards, you can feel very irrelevant. You talk to 256 people and you might get one lead. If you can get that down to one in 12 – then you feel more compelled to call people. Our product helps you focus your efforts.
“This technology creates a whole new way of marketing and thinking,” he added. “REALTORS® are able to focus, spend less of their budgets on marketing and get better results.”
REALTORS® are able to subscribe to this service on a monthly or bi-monthly basis.