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Real Estate Tech Tip: Put Your Data to Work

Everyone talks about how important data is to a real estate brokerage. But “data” doesn’t tell us anything without analysis.

Today we are looking at the benefits of three different real estate brokerage data sets, Agent data, Buyer and Seller data, and Transaction data.

Agent Data

Analysis of Agent data can give us insight into how efficiently a brokerage is functioning and where problems exist. Lead conversion, lead follow-up time and quantifying outreach can give a brokerage insight into the productivity of its agents. This opens up opportunities for coaching and professional development to make agents as productive as possible.

Buyer and Seller Data

Analysis of Buyer and Seller data brings its own host of benefits allowing more effective follow-up and automation. If a brokerage can automatically segment buyers and sellers into subgroups they can hone their messaging. This will make sure that the message that the user receives is tailored to them and their specific needs. When your system can talk to people about their needs automatically beautiful things happen.

Transaction Data

Analysis of transaction data can give a brokerage the exact ROI for their marketing channels through closed loop reporting. By tying a closed transaction to a specific marketing channel and doing that for all of your closed transactions a brokerage can stop guessing, about what is working and what is not, and take action.

Data is not meant to be dusty, make sure your brokerage is setup to put it to work and drive results.

 

Need help putting your real estate data to work? Like the ideas mentioned in this post but don’t know how to implement them? Our digital marketing team has you covered. Click here to learn more. 

Real Estate Tech Tip: Put Your Data to Work

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