Predictive Analytics Finds Ready-to-Sell Owners
What do homeowners do if they’re preparing to sell? Predictive analytics looks at lots of those variables to predict which people are most likely to sell soon.
NEW YORK – Predictive analytics – based on advanced algorithms and data-driven insights – helps real estate professionals to proactively identify homes that are more likely to come on the market.
The technology also helps agents gain an early awareness of properties that could potentially be listed soon.
By analyzing a wide range of data – including things like historical listings, market trends, demographic information and social media trends – predictive models identify patterns and signals that indicate a higher likelihood of a property becoming available.
For agents, this early market awareness provides a competitive edge, allowing them to initiate contact with potential sellers early in the process. They can focus their marketing efforts on the right properties and to be first in line for potential sellers.
Real estate professionals can also use predictive analytics to help optimize marketing efforts. Since it considers lots of data points, it can help deliver personalized experiences to potential sellers. By considering data on individual preferences, behavior patterns and past transactions, predictive models generate insights that allow professionals to better customize marketing campaigns specifically to the needs and motivations of potential sellers.
The predictive analytics approach to personalization strengthens engagement, builds trust and improves the likelihood of securing listings.
Source: Realty Biz News (07/17/2023) Gamble, Tom
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