With the recent advent of AI, certainly into everyday life, it was perhaps only a matter of time before the real estate industry “bought in” too.
Ray White literally bought into the technology a couple of years ago with a $3 million investment in proptech software NurtureCloud, which uses “propensity modelling” to help agents predict which homeowners could be on the verge of listing.
It has other CRM uses too but it’s its Smart Call List – generated from that propensity modelling – that’s been a real game changer when it comes to prospecting for Ray White Burleigh Group.
“No one likes cold calling – no one likes making them, and no one likes receiving them,” RWBG Principal Tiger Malan says.
“NurtureCloud, however, takes a lot of the guesswork out of prospecting – that Smart Call List it generates gives us a fairly accurate idea as to who is thinking about selling.
“We can then use that intel to reach out at that precise moment and have a far more constructive conversation with them about what to do next.
“In my experience, they actually appreciate us making contact, so it’s a win win for both parties.
‘The response we often hear is, ‘thank God you called, you got me at a good time’.
“Ultimately, it’s about achieving a great price for someone’s property – either their principal place of residence or investment – and this very much helps with that.”
The NurtureCloud technology effectively reverse engineers the selling process by working out who is, in fact, looking to buy.
So, if a homeowner on the Gold Coast starts to search listings anywhere in Australia, a notification is sent to RWBG to perhaps give them a ring and simply ask them what they plan to do with their property here.
Of course, the technology only gives some insight into what a potential vendor might be thinking, but more often than not, it makes for a much more pleasant cold call and one that’s likely to be well received.
NurtureCloud General Manager Courtney Martin says the selling process, and sellers, are actually quite predictable.
“There’s always markers, or “sparks” that someone is about to put their home on the market – in fact, 67 of them – and their search activity is one of those,” she says.
“If someone is looking at a number of listings in a certain area, it probably means they’re looking to buy there; and if they’re looking to buy in that area, it might mean they’ll need to sell their existing home to facilitate that move.
“Previously, agents would cold call a property owner with absolutely no clue as to if they’re even thinking about selling, and if they aren’t, awkwardness usually ensues.
“It’s a quantity over quality approach – ring enough people, no matter how many knock backs you get, and you’ll eventually find someone who is looking to sell; but it’s a very unnecessary way to go about it.
“NurtureCloud flips all that.
“For agents who have avidly adopted the NurtureCloud system, we’re predicting one in two listings that come to market in their Smart Call List 90 days before they do – it’s a powerful tool for agents whilst improving the customer experience for future vendors.”
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