Lead Accelerator helps agents convert the best prospects
Equifax has launched a new solution to assist real estate agents to identify and develop the best prospects.
Lead Accelerator uses three key elements to help agents become the first contact for prospective homebuyers including insights into their wealth, homeownership status, and keenness to buy.
The firm cites NAR data which shows that 7 in 10 homebuyers will work with the first real estate agent that connects with them.
"If 79% of Millennials use their phones at least three hours a day, you can guarantee they will expect a technology-driven home buying experience that is fast and intuitive. In order to meet this demand, real estate agents need sophisticated data and analytic tools at their disposal to move at lightning speed," said Tyler Sawyer, vice president of rental and real estate, Equifax.
3 key modules
The solution’s three key modules are:
- The Personal Wealth module provides real estate agents with anonymized insights of a lead they have not previously met in addition to an overview of the lead's likely financial capacity and estimated household income. Also, the Personal Wealth module includes visibility into the household economics, further helping real estate agents differentiate leads, match offers and deliver relevant marketing messages.
- The Property Value module uncovers property data to determine whether a lead is likely an existing property owner or a prospective first-time home buyer. For existing property owners, additional data is provided relative to property value, time-in-home, home equity and other property attributes indicating a buyer's estimated financial health.
- The Propensity Score module identifies the likelihood that a lead will purchase a home within the next six months. Likewise, real estate agents can prioritize similar looking leads based on those most likely to convert and determine a preferred approach to contact.
"Lead Accelerator enables real estate agents to qualify leads faster using data to make prioritization decisions; utilize the propensity score to help understand a lead's transaction likelihood; and convert more leads to closed deals by identifying and prioritizing top lead clusters, connecting the right buyer to the right home," added Sawyer.
