“Without proper data analytics, companies are blind and deaf, wandering out on the web like deer on a freeway.” – Geoffrey Moore
There is one thing for sure, the use and access to immediate information has changed the way homeowners have approached selling their homes. The question is whether, as a Mortgage Broker or Realtor has your approach evolved as well?
There are plenty of companies out in the market that offer to give you lists of potential sellers, but these lists’ accuracy leaves much to be desired. You can feel a bit like a Gold Rush-era prospector sifting through the silt with a pan to try to find that one nugget of Gold. I wrote a bit about this in my previous blogpost; Sifting Through Online Leads to Discover the Gold! Your time is far too valuable to waste time hoping to find that speck of Gold. These lists’ cleanliness is a challenge that is not often addressed by companies selling “leads” when in actuality, it’s more like they are selling “lists.” Zoominfo wrote a spot on blog post, the 35+ Statistics About Dirty Data, that addresses the consequences of inaccurate data.
In 2018 an article in Housingwire put the cost of a Zillow lead anywhere between $20 to $220 per lead. Industry expert Mike Delprete put the cost of leads at $55 per lead. If all you are getting is an unverified list of potential sellers, you may be better off throwing a coin in a fountain and making a wish. It’s not just the leads’ cost; in most lists, over 40% of the leads contain insufficient data. Inaccurate or fake phone numbers or email addresses, even phony names, result in most Realtors giving up out of frustration.
For a simple example – if you spent $2,000 for 50 Zillow leads and 40% are bad that means you paid $800 of that money for leads that aren’t worth anything. Further to the point, if 2% convert (or 1 lead – which is about the industry average) that puts your cost per listing/buyer at $2,000.
This situation has forced many Professionals to turn back to their sphere of influence and reach back to those they’ve done business with within the past. But how do you know whether your past customers are ready to sell? The process of manually narrowing down those lists can be time-consuming, and your time equals money.
You can stop buying lists that go nowhere, produce no results, and leave you discouraged, feeling as if you’ve wasted your money. It brings to mind the spot-on quote by Author and HubSpot Marketing Scientist Dan Zarrella – “Marketing without data is like driving with your eyes closed.” I would add to this that analysis of this data is the equivalent of turning on the windshield wipers to clear the view even further and see the road ahead.
So, what I’m saying is it’s not all hopeless. There is light at the end of the tunnel; with the introduction of Artificial Intelligence data analysis, it’s possible to refine these purchased lists or your sphere lists to find the Gold that is definitely out there.
At Likely.AI, we recently launched our revolutionary database audit tool. The reaction has been astounding, with Realtors and Mortgage Brokers benefiting from the refinement of their lists. Imagine being able to take your sphere of influence list and upload them into our patented refinement tool to determine the likelihood of finding Gold without doing all the work.
With our Database Audit tool, it’s painless. Using our Artificial Intelligence engine, you can mine your existing database for consumers that are likely to sell. We’ve made the process simple, confidential (we don’t share your client data), and useful. But don’t just take our word for it, see how our partner, Cody Gibson, owner of United Home Group, benefited from this solution
How does it work? It’s easy:
- Drag & Drop your contact database (address, city, state, zip… are required for each contact)
- Receive a text within an hour once your audited contact database is ready
Try it out for yourself. Find out how valuable your contact database is with our FREE Database Deal Finder Report – just upload your CONTACT DATABASE HERE. It could not be simpler.
As always, we are believers in this fantastic industry. We are an invested partner in your success and trust that 2021 will be a stellar year.
If you have questions about the Database Audit solution or other services and data provided by Likely.AI, please contact us for more information.
At Likely.AI, we have spent the past few years perfecting the analysis and delivery of Likely Sellers. Our mission is to become the real estate ecosystem’s Artificial Intelligence modeling partner. Using our unique machine learning models, we deliver vetted and validated leads (aka Likely Seller) that have a higher likelihood of becoming a deal than others in the industry. We believe so much in our models’ accuracy that we are willing to put our money where our mouth is. With only a nominal license fee to cover some of our costs, we instead tie our revenue model to a closing percentage. In other words, our success is predicated on your success. We don’t make money unless you make money. Thus, allowing you the real estate professional, to maximize your profits by partnering with Likely.AI, who will can and will provide you with Likely Sellers in your market.
From predictive modeling and complicated algorithms to deep learning and artificial intelligence, Likely.AI is a new-age lead generation tool that is changing lead quality expectations by identifying consumers’ likely real estate decisions before their decisions have been made. To learn more, you can contact Likely.AI HERE.