by Deirdre LePera, director of business development
In the era of big data, it’s challenging to know what resources real estate professionals can rely on for accurate predictive insights. A site may boast heavy traffic numbers, but that doesn’t necessarily indicate the motivation of its audience. Another may have the right audience, but incomplete lead capture mechanisms that leave sales professionals with little to go on for their initial outreach.
Because information sources are infinite, many real estate professionals lack time to decipher multiple data points. Increasingly, they rely on comprehensive lead capture systems to pool seemingly unrelated bits of information to create a singularly complete picture of who a potential customer is and what that customer wants.
One of the growing platforms on the scene is offrs.com. Using big data and predictive analytics, offrs.com uses its algorithm to indicate which homeowners are most likely to sell. When measured against actual sales in a test market, the seller lead tool calculated a 70 percent accuracy rate over a 12-month period.
Sound too good to be true? That’s what Hal Bennett, a sales professional at RE/MAX Professionals in Tacoma, Wash., thought. After viewing a Facebook ad for the service, he decided to find out about the company. Bennett is part of the Bennett Properties NW sales team with his wife, Kari. They invested in an offrs.com territory almost three months ago.
Most offrs.com territories average 2,000 homes with a projected 5 percent annual turnover rate, equating to roughly 100 home sales. Given the accuracy of offrs.com algorithm, the company predicts that 70 out of the 100 homes sales in any given territory. Bennett stated, “Based on the stats, I should be able to generate ten additional sales per territory.”
Bennett notes that data produced out of each territory isn’t inexpensive, but the return on investment is there based on the quality of leads received. Part of that quality comes from the initial qualification calls made by the offrs.com staff. Their job is to reach out to prospective sellers and see if their data matches the goals of the homeowner. Bennett tested the offrs.com support team on his home and found them to be efficient on the call and respectful of his time.
Establishing a connection with the homeowner, on the sales associate’s behalf, is enhanced with viable property data, contact information and social insights when available. For Bennett, the leads his team has received so far are solid. He’s found that his interactions with offrs.com leads are positive noting, “When someone is looking to sell, [he or she is] happy to talk to you.“