Friday, 18 December 2015 11:21

Predictive data set to be real estate’s “new black”

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ActivePipe, an Australian-developed real-estate technology start-up, looks set to make “predictive data” real estate’s new global catchword.

ActivePipe commenced in 2015 and is a subscription based software system that automates communications to the customer on the agent’s behalf, its predictive algorithms alerting agents to which of their contacts are imminent buyers or sellers.

It allows agents to profile the property interests of their individual contacts and tailor communications accordingly. It tells agents who to call, when to call and why they should call. Significantly for the ultra-competitive real estate industry, it arms agents with valuable background knowledge and insights into customer preferences.

The unique technology is set to launch in the US$23 trillion American residential real estate market and the £5 trillion UK residential real estate market in early 2016. 
 
This comes after ActivePipe was adopted by over 50 real estate networks, with agents reporting significant increases in sales and listings directly as a result of implementing the technology.


   
The system plugs into existing CRMs, provides real-time analysis to agents about which contacts are highly active, the properties they are interacting with, and the likelihood of them becoming imminent buyers and/or sellers. This allows agents to efficiently manage one-on-one communications with contacts that are active and ready to transact.
 
ActivePipe CEO Ashley Farrugia set out developing the software in 2008, after several agents failed to return his calls when he was on the market for an investment property.
 
“CRM systems are brilliant and essential tools for managing large numbers of contacts, but they are effectively data museums - they reflect what has happened - not what will happen. We deliver data discovery and predictive intelligence to the agent’s data,” Farrugia said.
 
“It’s not a case of technology disrupting an industry -  rather it’s about technology making an industry aware of a problem it did not know it had, and unleashing the awesome efficiencies and opportunities available through data discovery,” he said.
 
Farrugia said apart from providing visibility into the behavioural intent of customers, ActivePipe also delivered a bandwidth multiplier that could enable an agent to go from managing 500 contacts to 5000. 
 
“The system firstly communicates and helps to maintain a relationship with the customer, but also, it means an agent doesn’t need to make 100 hundred calls a day to find one person that may be looking into the market,” he said.

FEATURES OF ACTIVEPIPE INCLUDE:

  • ‘Engagement Intelligence’- ActivePipe harnesses engagement data and refines future property communications specific to each person’s interests.
  • ActivePipe’s predictive algorithms accurately predict intending buyers and sellers of property.
  • ActivePipe automatically notices when a client’s search criteria has changed, and adjusts the information being sent to suit the new criteria.
  • Profiling surveys of users.
  • Online feedback is automatically solicited based on property inspections.
  • Fully automated communications.
  • Standardised branding and messaging across all communications – fully device responsive.
  • ActivePipe’s communications directly drive all engagement activities directly to the client’s website.
  • New listings are communicated to a branch’s data base often before they appear on real estate portals, providing an agent’s contacts with unique timing benefits.
  • Open rates and engagement levels around 60+.

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Ray Shaw

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Ray Shaw ray@im.com.au  has a passion for IT ever since building his first computer in 1980. He is a qualified journalist, hosted a consumer IT based radio program on ABC radio for 10 years, has developed world leading software for the events industry and is smart enough to no longer own a retail computer store!

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