The effective use of data can help an agent build trust, improve communication and market property more effectively
The real estate industry is a tough one and the top agents are the ones who are always looking at ways to differentiate themselves from the competition. The effective use of data can help an agent build trust, improve communication and market property more effectively. A major national property portal such as Private Property constantly mines data and conducts research to identify opportunities and best practices. They are then able to equip agents to improve their performance.
The website recently released two pieces of insight with the intention of helping agents to perform better.
CONTENT IS KING
Private Property ranks listings on the site according to the amount of information provided. More information results in a higher position and better visibility. Analysis found that the vast majority of listings on the site scored between 40 and 50 out of a potential 100. Additional content such as a video tour or published address resulted in those listings receiving four times as many leads and views as an entry level score. This insight clearly shows agents the value of creating content-rich listings to improve engagement.
AGENT RESPONSE AND ENGAGEMENT
A recent survey conducted by Private Property identified issues around stock availability and agent response rates. The survey found that more than half of the agents contacted did not respond to leads via email and a quarter did not respond to calls. This is useful information for dealer principals and agents looking to improve their performance, as missed leads could represent a significant amount of lost business and a tarnished reputation. The survey also found that 35% of the properties listed on the site were no longer available. Unavailable stock being listed for sale results in irate buyers and reputational damage for the agent and agency.
As the scale of digital marketing grows so the opportunity to generate meaningful, real-time market insight is also expanding – it’s an exciting future.
Words Simon Bray
Simon Bray is the CEO of Private Property, as well as being a software designer, online marketer and avid surfer. He has a passion for technology and a deep understanding of the industry.