Big data is dramatically changing the effectiveness of cold calling by real estate agents by identifying those property owners who are most likely to list their homes.
A new product called SmartList combines the best in property data from CoreLogic with Australia’s best consumer behaviour insights data from Quantium. It identifies the insights and behaviours that signal that a property owner is likely to want to sell in the near future.
The end result is a list of properties and contact details of owners that are up to five times more likely to list their property within the next three months than just randomly cold calling, or dropping brochures into every letterbox within a street.
“SmartList is not a magic bullet, but it’s a great example of how big data analytics can help real estate agents,” says CoreLogic’s head of property services marketing, Kylie Davis.
SmartList is purchased at a postcode level with each data set available exclusively to one agency per postcode.
Doug Driscoll, the CEO of Starr Partners, a boutique agency in western Sydney, said his team had successfully used SmartList to boost their listings in a tight market.
“SmartList is a great tool, delivering a list of addresses that allows us to quickly reach out to potential new clients, saving us time and allowing us to be more targeted in our prospecting,” Doug said.
“With SmartList, we know the people on the list have a high rate to sell within a short time frame. This gives my agents a greater sense of urgency and, in part, a greater sense of confidence as well. Rather than having what I call ‘spray and pray’ approach, it is more ‘lady-like’ and they know they’re probably going to get more of a yes than no response.”
When using SmartList, Kylie says it’s important to have someone who knows how to ingest potential listings and merge them into your own CRM. “This will allow agents to see relationships already exist and when overlaps occur.”
“A combination of great insights into who to target, combined with good processes and relationship building, and great insights is what SmartList is all about,” Kylie said.
“It can help you direct your energy in a way that delivers the most success And this in turn saves you significant money, time and energy while getting you better results than before. What’s not to love about big data?”