Inman Revaluate Review: 5 Stars
I’m very pleased to share that Inman technology writer Craig Rowe wrote a Revaluate Review this week. In this review, Revaluate earned 5 of 5 stars. Awesome. Here’s a reprint of his article as originally published, but behind a paywall.
Disclaimer: Revaluate has been invited to present on the inman stage as recently as this January, was a finalist for the inman innovators award in 2017 and paid to exhibit at Inman events in the past, but currently has no financial relationship.
Revaluate is your partner in lead quality: Tech Review Update
Database clean-ups, verification services and local insights about likely moves help Revaluate maintain your CRM
BYCRAIG C. ROWEStaff Writer
This article was updated May 2, 2024.
Revaluate is a database auditing and seller insights solution.
Platform(s): Browser
Ideal for: All agents, teams of all sizes; agents working with younger, web-savvy clients
Initial review: Nov. 2015
Update: May 2024
Top selling points:
- Database/CRM clean-up
- AI-based Likely to Move scoring
- Location/address confirmation
- Consistent data quality monitoring
- Easy integration
Top concern(s):
A clean database isn’t enough to win new business, but it is every business’s best start. Agents and brokerages need to understand their audience and create a marketing strategy to capture it.
What you should know
Revaluate is an application for improving an agent’s database of contacts, leads, vendors and clients. It’s designed to plug into the backend of whatever CRM one uses to offer a blanket audit of records, highlighting missing addresses, bad email accounts, broken names and just about any form of bad input that’s responsible for email campaign bounce-backs, undelivered “New Listing!” postcards and any other form of ignored or ROI-less outreach.
Revaluate also uses predictive analytics to watch your database for activity that may signal a person is getting ready to put their home on the market, probably its flagship offering, proven right one in five times. This exceptionally valuable feature can only work if the person’s address is up-to-date, and ensuring that’s the case is another component of the software, able to marry email addresses with a house number and zip code.
User databases get assigned a score and intuitive breakdown of complete records vs. incomplete, total records, missing names, invalid addressees and other characteristics that define quality marketing data.
The company debuted as a service to rank neighborhood livability, paving the way for the likes of Local Logic and LocalizeOS, as well as other services harnessing socioeconomic and demographic studies for the benefit of the consumer by way of the agent. It’s all valuable stuff.
Down the road, though, the company realized that there are multiple ways to strain its data and launched its “Likely-to-Move” scoring, now a prominent part of Revaluate’s core competency.
In a recent demo conversation, Revaluate’s CEO Chris Drayer told me that upon sign-up, 93 percent of customer databases begin with a less-than-passing letter grade — an F. Give further thought to how most databases are collected, and it’s easy to understand why that’s the case.
The Revaluate Review Conversation
One example is the use of “squeeze pages” and other permission-based forms of data collection — basically, those pop-up forms that require a name and email address to see more listing photos. (Please stop withholding information from the public.) These are easy to break with a bullshit name or shoddy email account which, incredibly, typically remains uncorrected in a CRM.
Leads that come from paid list providers rarely offer a lot of validation, nor do open house forms that can also be easily side-stepped. And let’s not forget names and numbers that can be purchased from literal criminals who have found a way to profit from repurposing discarded phone books. And the longer these leads fester in your database, the more likely you are to waste money on marketing.
New FCC anti-SPAM rules are directly targeting paid lead services, essentially preventing them from selling the same batch of leads multiple times. The relationship between sender and recipient has to be organic and one-to-one. This is going to impact a number of industry lead providers when it kicks in July 2024.
This means Zillow, Realtor.com and other search-based lead provider. Major email providers are already practicing such standards. This means the more often you email a bad address or a person who doesn’t want to hear from you, the more likely you are to earn yourself a scarlet letter S as in SPAMMER.
The Edge
Revaulate also gets a little edgy in that it has a feature that reveals lost commission volume as a result of infrequent outreach or poor data quality. Using the same AI-backed functionality that determines a person’s moving potential, the application digs up those in your database who bought or sold with another agent. The good news is that is part of a running list that shows the potential resting in your data and also highlights when it was you who earned the commission.
This information can also be viewed in a map experience. This pinpoints closed sales in and around your market from people in your database.
Know that not every lost sale is because your data was bad. It just happens; it’s part of the game.
Still, earning back a couple of those lost deals isn’t that hard. Be consistent, be personal and damnit, be relevant.
Which all starts with knowing who’s in your database. On that note, new leads aren’t all that prevalent right now. The logical thing to do is focus on the ones you already have.
