MODULE 5 – REAL ESTATE TECHNOLOGY Big Data For many years businesses, internet service providers, website managers, search engines and software developers have been collecting vast amounts of data from users. This data has shown clear behavioral patterns in online consumers and over time has come to be labeled “Big Data”. Everything from buyer behaviors to the probability of selling a home has been collected by companies. ▪
Predictive Models
Utilizing tools offered to real estate agents with this big data information can equip an agent to target certain types of sellers, buyers, or other potential clients. Imagine being able to get a report on the most probable home sellers in a neighborhood and what best tactics would affect a business opportunity based on the homeowner’s online activity. Instead of blanket and blind farming efforts among 200 people in a neighborhood, a skilled agent can use information from predictive models and focus on the two most likely sellers in a neighborhood and a much more precise manner. New marketing services are emerging within the industry that are monitoring all the homes in Canada and looking for patterns and “red flags” that will indicate when a home seller is preparing to sell, when buyers are ready to buy and what the best approaches are to convert those individuals intoclients.
Big Data ▪ ▪ ▪ ▪
Business is moving to a mobile and paperless environment. Apps are software elements that perform certain tasks. Most real estate software now has companion apps for mobile access. App libraries can keep agents and their team organized and working more efficiently.
Customer Relationship Manager ▪ ▪ ▪ ▪
Internet-based. Allows for the creation and management of marketing and information content for consumers online. Can be used as an adjunct tool for consumer and client management. Often as “calls-to-action”, forms, posts, and pages to assist the agent with soliciting new business and managing current client engagements.
BrokerLogiQ | Real Estate Professional Assistant Course | 41
