Harnessing the Power of User Analytics to Beat Your Real Estate Competitors

May 8, 2024

The real estate game has been like a wild rollercoaster ride for agents and their real estate brokerage. Picture this - agents twiddling their thumbs waiting for a call or a text like a game of real estate roulette. They spend a quick 30 minutes hearing out a buyer's wishlist, only to sit back and watch the client swipe through online listings like a pro. The chase continues as agents hustle to set up property visits, all while both sides juggle a whirlwind of changing preferences. It's like trying to hit a moving target!

The interesting thing is that it does not have to be this way. Big data and predictive analytics are everywhere in our daily lives and are constantly providing a more streamlined experience. Think about major companies like Amazon, Spotify, and Netflix. They are constantly curtailing their content to you based on your needs, wants, and recent behaviors. Even more thrilling is how these companies begin to see changes in your behaviors and adapt quickly to them. Couple this with the new uses for AI and it is almost like these companies are telling you what you want or need before you even know! 

86% of homebuyers between the ages of 33 to 42 found their home on a mobile device or tablet. - 2023 NAR Home Buyers and Sellers Generational Trends  

Let's talk real estate, shall we? Why can't agents and brokers dive into the tech game to jazz up their client experiences? The snag? The current setup is a bit of a jigsaw puzzle. Most house hunts go down on big platforms like Zillow and Redfin, but these sites aren't exactly sharing all the client deets with the agents (shh, it's a money-making secret!). So, here we are, real estate agents twiddling thumbs until clients reach out to US. But imagine this: what if there was a pocket-friendly, affordable, tech wizard that gave a Zillow-like search, but with agents in the driver's seat? Picture this tech tracking every client move, tossing it into a nifty analytics pot for agents to spot trends and swoop in on those changing client whims?

Well, real estate professionals are in luck as many new prop-tech companies provide such technology. While many website companies can provide a basic web search experience with analytics, the issue is most clients will not use these antiquated and outdated systems. One of the most interesting players currently is HomeStack, which focuses on building branded real estate app for agents, teams, and brokers. HomeStack’s real estate apps differ because they provide a mobile search experience that can provide your clients on par with the major portals. But the real magic happens on the back end through the data gathering and analytics that the system captures on every single client that uses it. Imagine having the insights to see everything your clients are doing inside your app and then using it to provide an experience that no other agent can! Think of the power of noticing your client is looking for properties in a new city that they never mentioned. In the past, you would need to wait for them to bring this up to you and then pivot (react). With this type of insight, you can beat them to the punch and recommend expanding their search to this new city…you look like a mind reader and real estate genius! There is no greater power when building relationships than being intuitive to your client's needs and knowing what they want before they do. However, unless you are a true clairvoyant you will need some technology to help you with that. Good thing there are some great options out there!

- Clarke Kress, CFO & Director of Finance Admin, LinkedIn

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