During uncertain markets, lower property values disincentivize sellers. As a real estate agent, these downturns can lend way to fewer prospects and deals, resulting in a sizable dip in earnings. Between the low sales volume and the smaller commissions, the outlook can feel dismal. In turn, savvy real estate agents are leveraging AI technology to identify motivated seller leads within their local markets. Here’s how.
Deciphering the Data
Before exploring the power of event-driven data to build highly-targeted lead lists, let’s decipher what the data actually means. As an example, we’ll consider consistently hot real estate markets like San Diego, California, or Tampa, Florida.
During favorable economic times, sellers in these markets have streamlined access to liquidity and cash from a sizable base of buyers. When finances become tighter due to weaker economic performance, however, prospective buyer numbers dwindle. In turn, home owners are less likely to sell due to the lower valuation.
As a result, event-driven leads makeup a larger proportion of sellers, becoming more valuable to real estate agents.
Why Event-Driven Leads?
During both hot and cold real estate markets, some homeowners will always need to sell. Whether they are forced to downsize after poor investment performance, relocate due to shifting job markets, or sell simply because they inherited a home with unmanageable taxes or mortgage payments, these sellers exist in every local market.
While real estate agents may not need to rely on event-driven leads during hot markets, the opposite is true when demand takes a tumble. By identifying who these sellers are before they express their desire to sell, agents can gain a major competitive advantage.
Gaining Access to the Data
For real estate agents, simply knowing that motivated seller leads exist within their local market is not enough. Only through a specific list of prospects can agents make the most out of down markets. While running an outreach campaign that targets these types of sellers may seem like a viable strategy, there are simply too many possible factors motivating the home sale for this to be effective.
Instead, real estate agents are utilizing predictive analytics platforms for targeted results. In turn, they can navigate uncertain economies without eroding their earning potential.
While there is no predicting where tomorrow’s markets may lead, real estate agents can continue to make headway with confidence using the right technologies. As innovators in event-driven lead technology, our team at Catalyze AI invites real estate agents nationwide to explore our platform through a complimentary demo. Thank you for reading!