A Data Driven Approach to Real Estate Databases
Revaluate primarily works with real estate agents in the US who have a Real Estate Database. Our clients range from mom-and-pop shops with small databases in rural communities to large industry-leading teams in high-dollar coastal markets with huge databases, including those from national brands like EXP to regional power players. Here’s a closer look at the data driven approach to real estate databases behind our clients’ success with Revaluate.
Our Clients Avg Database
On average, Revaluate clients have a Sphere of Influence (SOI) of around 300 contacts, with many managing a farm area of 500 or more contacts. A significant portion of these agents have purchased numerous buyer leads from portals, which typically lack seller addresses, complicating marketing efforts. Revaluate addresses this challenge by appending physical addresses to client databases, successfully matching around 50% of the leads. This enhancement results in an average client database size of 8,560 contacts, showcasing the substantial impact Revaluate has on improving data quality and marketing effectiveness for real estate professionals.
Our Clients Avg Prediction
At our core, Revaluate is a data company. Thats the focus of our Data Driven Approach to Real Estate. A year ago, we introduced the revolutionary MLS data oriented product: Report Card by Revaluate. Our clients appreciate having MLS listing data overlaid on their database. Additionally, this data also informs our AI as to accuracy. Over the past 12 months, we successfully predicted MLS listings 19% of the time. We know of no other MLS listing predictor that is more efficient.
Our work is challenging and we don’t always get it right, however, 11 of our clients’ prediction success rates were above 50% in the last year. (Revaluate accurately predicted a listing 50% of the time) Yes, this is cherry picked best case scenario data. Averages are far more meaningful. On average, Revaluate correctly predicted 28.8 transactions per client, totaling $14,976,000 in listings.
Our Clients Avg Tech Stack
On average, our current client has a CRM with an API integration into Revaluate. Most frequently we see FUB and Lofty (but Sierra, Happy Grasshopper, WiseAgent and others are growing) The API usually allows for two way communication. We pull contacts in, score them, and push the score back into the CRM. The agent/team then leverages the Revaluate Score to trigger their marketing automation in the background.
We’re Not Content With Average
What’s to come? As always, Revaluate grows based on customer feedback. We’ve already rolled out a significant dashboard upgrade and have a major announcement(s) coming by the end of the year. If you have product reviews or suggestions please send them to [email protected]
So, what should you do with this data?
If you’re a Revaluate client, analyze your Report Card data and reach out to us with questions. If you are interested in a A Data Driven Approach to Real Estate Databases, create your free account. To do so, schedule a time to chat with one of our data experts.
