ProspectNow Uses Predictive Analytics to Identify Properties Most Likely to Be Listed for Sale
- Commercial Real Estate
- CREtech Blog
Predictive analytics have become the latest trend in a number of industries, and the real estate industry is no different. ProspectNow is building on that trend by offer a predictive analytics platform that filters millions of buildings to identify those properties that are most likely to be listed for sale within the next 12 months. Detailed property information, including building info, phone numbers, and 30 million commercial tenants, is provided via the platform. Suitable for anyone who is marketing to property owners or businesses, ProspectNow is used by investors, brokers, insurance ISPs, and even contractors, such as solar companies and roofers.
The ProspectNow platform differs from other real estate databases in that it guides users to the properties with the greatest chances of being listed or refinanced. With the information provided by the platform, users can obtain contact details for key decision makers. As a result, real estate professionals can obtain more listings while exerting less effort. The company reports an approximate increase of 100 percent in the number of potential listings by focusing on the properties tagged by ProspectNow as likely sellers.
How the ProspectNow Platform Works
By analyzing thousands of properties that sell each week, ProspectNow builds a profile around the characteristics of those properties that have sold. That profile is then applied to properties that have not yet sold using a predictive model. This strategy results in a list of properties that are believed to have a much greater probability of being listed for sale within the next 12 months, thus helping remove the guesswork in determining which properties real estate professionals should be targeting for their marketing efforts.
The ProspectNow database includes all property types, including commercial, residential, retail, industrial, and office. Also encompassing approximately 30 million business owners and tenants around the country, this database is among the most comprehensive of its kind. The information contained in ProspectNow’s database is updated every 30 days.
Giving Real Estate Agents Access to Critical Information at the Right Time
According to ProspectNow, this information is all considered public domain, as every county maintains a record of this information for every building within its boundaries. Unfortunately, many real estate professionals face obstacles in uncovering this information from county records. This is where ProspectNow is able to help. The company performs all of the research and provides this difficult-to-uncover information in an easy-to-use format. The result is one of the most effective tools currently available to help real estate agents generate more listings.
As online prospecting becomes increasingly competitive, real estate agents must utilize every available tool to get ahead of the competition. ProspectNow is giving real estate agents the competitive edge they need to quickly identify property owners who are most likely to list their properties for sale within the next year. As such, real estate agents can focus their marketing efforts where they matter the most and avoid wasting valuable time and resources.