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Through the use of machine learning and artificial intelligence, an agency is hoping to improve its CRM and take the guesswork out prospecting.
A partnership between Agency HQ and Propic is creating a first in the proptech space by combining the CRM matching agency data with the power of AI and machine learning.
“By combining big data with agents’ CRM data, Reveal makes predictions about who is most likely to list their property for sale,” Jeffery Gray, CEO of Propic, said.
“Driving Reveal is a series of highly advanced proprietary algorithms that draw on data from a wide array of sources, including government, land titles, census and more.
“Designed specifically for real estate professionals, the platform turns data into actionable insights that tell agents, in natural language, which properties and consumers should be targeted.”
Mr Gray explained that through AI, the algorithm is constantly making predictions across every postcode in Australia in a single day.
“Filtering down to just the top 50 properties in each postcode, this equates to upward of 96,000 predictions every day and more than 35 million predictions annually on a national basis,” he said.
The real benefit from the programming is telling agents who they should be calling through the use of “Reveal” software.
“Reveal tells our agents who they need to speak to each day,” Mark Morrison, CEO of Agency HQ, said. “For example, if one of our agents has 10,000 people on their database, Reveal tells them the top 50 they need to contact as a priority.”
However, the software will continue to improve over time, telling agents the properties they need to focus on — those in their database as well as those not in their database.
“Importantly, it tells them why they need to call each person. For example, an agent may have spoken to someone five years ago. Now there are indications that they’re looking for an appraisal. Reveal gives these details to the agent, along with a reason to call, so they have the right information on hand when making an approach,” Mr Morrison said.
