It may be time for you to leverage predictive analytics if...
1. You've spent 10 hours on FB to researching baby announcements.
2. Your farming efforts are single-handedly keeping your print vendor in business, but you have yet to receive one response or real estate seller lead from your direct mailers.
3. You send monthly postcards to your farm and selling prospects, but when you go to doorknock, at least one homeowner thinks you’re doorknocking to recruit new members for a cult.
4. You finally received a response from one of your direct mail postcards... but it was a notice from the post office saying the homeowner had just moved.
5. Another agent, by way of predictive analytics, has identified you as a prospect for downsizing because your income has dropped. Yikes.
6. Your next-door neighbor just listed with someone else. You didn't know they were thinking of moving.
7. You spent $500 on a designer who created social media ads that Facebook immediately rejected
8. When you called an “executor of the estate” contact from your probate list, the deceased cheerily answered the phone.
What is predictive analytics, and how can it work for you?
Predictive analytics mines massive data sets to find patterns in human behavior. You see predictive analytics used all the time in your everyday life. When Amazon recommends items at checkout, or Target’s receipt offers you a coupon for your next purchase -- that’s predictive analytics in action. Those companies are predicting, based on your past buying behavior, location and many more details, what else you may want or need to buy in the future.
When it comes to real estate, SmartTargeting is a product that analyzes local data sets to determine the selling triggers for your market area. Once the predictive analytics engine has determined local seller signals and patterns, our proprietary algorithm predicts the homeowners and homes most likely to sell near you.
While every agent may be able to contact expired listings, or run a massive farming campaign to draw out potential sellers, predictive analytics helps you narrow your focus to only the most likely sellers. You save time and money -- and you never again have to stalk a FSBO for a new listing.
What do I do once I have the list of sellers?
Data can only get you so far, and we know it’s critical that you engage with your likely home sellers one-to-one. SmartTargeting is a full listing solution that offers automated marketing and smart follow-up technology so you can start closing the gap on your seller prospects on day one. Our marketing platform includes online ads and social media ads, handwritten letters and direct mail postcards, and email nurture campaigns to keep them interested after you’ve “captured” a new lead on our agent-branded landing pages. You can also use our smart follow-up technology and CheckIn app to schedule personal interactions with your top listing targets.